There will always be classic racing using the combustion engine unless Petrol/Gasoline completely runs out. If we have already reached
"Peak Oil" and the world in general does not know about it, Electric racing won't happen either. No oil = No civilisation as we know it and a return to the 18th century at best. No fossil fuels, no Electricity generation. Wind farms and tidal power might save us but I think if we have reached "Peak oil" then it's too late for us.
Still time for me to get in a few track days on my Suzuki GSXR1000 in the next year hopefully.