Develop plans for a world-class Electric Superprix on the streets of Birmingham, to promote the West Midlands automotive industry around the world
https://www.wmca.org.uk/media/1680/andy-streets-renewal-plan.pdf
Page 41
I think Andy is our man?
London hosted FE for a couple of seasons in Battersea Park but local opposition lead to it being dropped. I've not heard any serious proposals about it going anywhere else in the city so I think there was always a strong possibility of a different UK city getting FE hosting rights.
As for F1 in London, it's an absolute non-starter. There's been talk of that for 20+ years and it's not got any closer. I wouldn't worry about that possibility scuppering anything!