Fortescue Zero Racing will partner with Jaguar. Image: Jaguar Racing
Set to compete as Fortescue Zero Racing, the team will be the first to enter Formula E under an Australian license.
Fortescue executive chairman, West Australian Andrew ‘Twiggy’ Forrest, recently announced the buyout of Penske Autosport, founded in 2007 by Roger Penske’s son Jay, which had competed in every Formula E season since the series’ inception.
Following the departure of Penske’s manufacturer partner DS Automobiles, doubt was cast over the team’s future after the 2025-26 season.
Fortescue growth and energy CEO Agustin Pichot expressed the team’s goal to aid in the development and innovation of technologies for real world application.
“For more than a decade Fortescue Zero has been the brains behind some of the ground-breaking technologies powering and transforming electric racing,” Pichot said.
“Now we’re going to show the world how we can compete on the track as well. Progressing from the pit lane to the grid is the next chapter in our motorsports story.
“We’re here to race, to win and to innovate. At Fortescue, it’s in our DNA to go to the extreme, push the limits and go further and faster than our competitors.
“For us, motorsport is more than just a chance to take home a championship trophy. It’s a platform to develop, test and home in on the next great technologies that will transform industries beyond racing.”
It is unknown who will drive for the new-look team.
Youngest ever race winner Taylor Barnard’s future has not yet been confirmed, while his teammate Maximilian Gunther departed the team for British outfit Envision.
This is not the mining company’s first foray into motorsport.
In 2022, the business acquired Williams Advanced Engineering, the technology and engineering subsidiary of the Williams Formula 1 team, in an effort to aid the company achieve its target to be carbon neutral by 2030.
WAE is responsible for supplying battery technology to Formula E. In 2024, the branch was renamed to Fortescue Zero.
The team enters Formula E in an exciting period for the series. Its new GEN4 platform boasts a top speed of 335km/h, and 0-100km/h acceleration of 1.8 seconds.
Qualifying times are expected to be on average 10 seconds per lap faster than the GEN3 Evo racer.
The 2026-27 Formula E World Championship is planned to commence with the Jeddah ePrix on December 18-19, with the series recently stating its continued intention to begin in the Middle East despite several other championships moving events away from the area.