Formula E will gain world championship status from the FIA from the start of its seventh season in late 2020, it has been confirmed.

Since its inaugural season in 2014-15, Formula E has not been a designated world championship, but was reported to be in talks over receiving such recognition in recent months.

Following the final meeting of the World Motor Sport Council this year, it was confirmed that Formula E would become a world championship from the 2020-21 season, with an agreement being signed by FIA president Jean Todt and Formula E chairman Alejandro Agag in Paris.

The news sees Formula E become the fifth FIA world championship, along with Formula 1, the FIA World Endurance Championship, the FIA World Rally Championship, and the FIA World Rallycross Championship.

"The creation and development of Formula E have been a great adventure. I am proud that today we confirm its FIA world championship status," said FIA president Todt.

"Since we started this journey, Formula E has undoubtedly gone from strength to strength. Within a short timeframe, the series has proven itself relevant for the automotive industry with two more major car manufacturers having joined the series at the start of the current season, bringing their total number to ten.

"The commitment and professionalism of those manufacturers and their respective teams is mirrored in the quality of the driver roster which has improved with every season. Since its first race in Beijing in 2014 and with every E-Prix thereafter, Formula E has proven that the concept of cutting-edge electric racing works.

"I wholeheartedly welcome Formula E as the latest FIA world championship."

Formula E chairman Agag added: "It was always our ambition to one day become a FIA world championship. Everything we have done and delivered to this point has been working towards this particular moment in time.

"Achieving the feat and being granted with FIA world championship status adds more credibility to what is already a fully-fledged formula of racing and a spectacular sporting product. This agreement and announcement truly puts Formula E in the top tier of international single-seater racing.

"It has been a tremendous effort from many people involved and none of it would have been possible without the support of FIA President Jean Todt and the federation, as well as the dedication and commitment shown by our teams and partners.

"Now we can say we have done it. But it is only the beginning of a new chapter under the banner of the ABB FIA Formula E World Championship."