An ABB FIA Formula E World Championship event that was scheduled for the July long weekend in Vancouver has been postponed.

One Stop Strategy Group Inc., the organizer of the single-seater electric vehicle motorsport championship, has “elected to exercise its rights” under Vancouver’s hosting agreement and postpones the event to an undetermined future date, the city said in a statement.

Last summer, city councillors voted unanimously in favor of hosting a multi-day Formula E event in Vancouver, along with a conference on climate change and sustainability.

Neither the city nor the OSS Group has provided a reason for postponing the event.

Asked for comment, OSS Group told CTV News the “incredibly difficult decision” to postpone was made following an “intensive review” with the city.

“Delivery of a world class event is of the utmost importance to the organization. We will be communicating with ticket holders via ATPI our ticket partner to inform their options,” the company said in an email.

The City of Vancouver said it will continue working with the OSS Group with the hopes of announcing a replacement date soon.

Organizers previously boasted the Formula E race would bring $80 million in economic value and thousands of jobs to the city.

The last time a Formula E World Championship event came to Canada was the Montreal ePrix in 2017. Montreal Mayor Valerie Plante later canceled planned Formula E events for 2018 and 2019, citing cost overruns and sponsorship troubles.

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