Fortescue Zero Acquires Team Penske for Formula E's Gen4 Era

In a significant development for the electric racing landscape, Fortescue Zero has finalized its acquisition of Team Penske, paving the way for its debut as a customer team in Formula E's upcoming Gen4 season. This strategic maneuver will see Fortescue Zero integrate two Jaguar-powered vehicles into the competition, augmenting Jaguar's on-track presence to a total of six cars, alongside its factory team and Envision, signaling a robust commitment to the future of electric motorsport.
This transition marks the conclusion of Team Penske's extensive involvement in Formula E, a journey that began with the series' inception in 2014. Throughout its tenure, Penske competed under various identities, reflecting different manufacturing alliances. Its most recent incarnation, DS Penske, spanned from 2022 to 2026. However, the revelation in March concerning DS's planned exit at the close of the 2025-26 season introduced uncertainty regarding Penske's continued participation. The current announcement provides clarity on its future, confirming Fortescue Zero as its successor.
Fortescue Zero is not an unfamiliar name in the Formula E ecosystem; the Australian enterprise has been actively involved in the development and provision of a diverse array of technologies, serving as a technical collaborator for Jaguar. Gus Pichot, CEO of Fortescue's growth and energy division, articulated the company's enthusiasm: "For over a decade, Fortescue Zero has been the driving force behind revolutionary technologies that propel electric racing forward. Now, we are poised to demonstrate our competitive prowess on the circuit. Advancing from the pit lane to the starting grid represents the next phase of our motorsports narrative. Our objective is to race, to triumph, and to innovate. At Fortescue, pushing boundaries and outperforming our rivals is intrinsic to our ethos."
The identity of Fortescue's drivers for the forthcoming season remains undisclosed, particularly following Maximilian Gunther's departure from DS Penske to join Envision, and with Taylor Barnard's future yet to be determined. Ian James, the head of Jaguar – a team that secured the 2025-26 teams' championship – expressed his satisfaction, stating, "We are thrilled to welcome Fortescue Zero Racing as a new customer team for the Gen4 era of Formula E. This platform continues to be pivotal for Jaguar's leadership in electric vehicle technology advancement."
The collaboration between Jaguar and Fortescue Zero Racing not only solidifies Jaguar's footprint in the championship but also underscores a shared commitment to technological advancement. With the advent of Gen4, a new and exhilarating chapter for Formula E commences, and the prospect of six Jaguar-powered vehicles vying for points, podiums, and victories is a testament to the strength of Jaguar's Formula E initiative and the trust vested in its technological capabilities. Both parties eagerly anticipate the journey ahead, poised to collectively redefine excellence in electric motorsport.
Fortescue Zero's acquisition of Team Penske for the Gen4 Formula E season signifies a major shift in the championship's competitive landscape. This move not only solidifies Fortescue Zero's transition from a technical partner to a full-fledged racing entity but also expands Jaguar's powertrain representation on the grid. The development highlights the evolving nature of electric motorsport, emphasizing continuous innovation and strategic partnerships as key drivers for future success and technological breakthroughs.