Formula E on Thursday confirmed Mexico City as the host city for round five of the ’15-16 season. The Mexico City ePrix is scheduled for March 12 and will take place at the Autodromo Hermanos Rodriguez. The renovated racetrack earlier this month made its comeback on the F1 calendar after a 23-year absence. However, Formula E will use a shortened track layout -- 2.14km vs. 4.3km used by F1. The race will be the first in the electric racing series’ short history to take place at a permanent racetrack. “If you look where this track is located it’s surrounded by the city, so it actually fits our philosophy of racing in the city,” Formula E CEO Alejandro Agag said. He added it is also much more convenient to race at a permanent track and not having to deal with street closures and building a temporary structure. “It’s the best of both worlds,” Agag said. Thursday’s announcement ends speculation about the race’s date and location. The event was initially scheduled for March 19 with the host city and country marked as “TBD” (To Be Determined). “We had the agreement with them for a while but the announcement was timed to be now,” Agag said. Mexico City joins Paris as the only two new venues on the Formula E calendar in season two. The series has tapped CIE and its subsidiary OCESA to put on the ePrix. CIE -- the largest entertainment company in Latin America -- is also the promoter of the Mexican F1 Grand Prix. Agag referred to the agreement with CIE as a long-term deal. However, he declined to talk about financial terms. The race is currently without a title sponsor, but Agag said that the series is talking to two or three brands and he expects to announce a partner in January. “It’s quite likely that there will be a title sponsor,” he said. “It will most likely be a Mexican company.” Tickets for the race will go on sale on Dec. 7 with prices starting at 350 pesos ($21).