Australian billionaire Andrew 'Twiggy' Forrest has acquired the Penske Autosport Formula E team. The West Australian mining magnate announced the buyout of the team that has competed in every season since the series' inception. The team will race as Fortescue Zero Racing and become the first to enter under an Australian license.
The move marks a new chapter for the team founded in 2007 by Jay Penske, son of motorsport legend Roger Penske. After manufacturer partner DS Automobiles departed, the team's future beyond the 2025-26 season was uncertain. But Fortescue's backing provides fresh impetus. "Forrest sees huge potential in Formula E as a technology development platform," an insider said.
Fortescue growth and energy CEO Agustin Pichot emphasised the team's ambition to do more than just participate. "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."
Pichot added that motorsport is about more than trophies. "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," he stated. Fortescue is no stranger to motorsport. In 2022, the mining company acquired Williams Advanced Engineering (WAE), the technology and engineering subsidiary of the Williams Formula 1 team, to aid its target to be carbon neutral by 2030. WAE supplies battery technology to Formula E and was renamed Fortescue Zero in 2024.
With this acquisition, Fortescue Zero Racing will be the first team to compete under an Australian license in Formula E. This strengthens Australia's presence on the global motorsport stage, following successful MotoGP and Supercars events. Formula E is entering a new era with the GEN4 platform, boasting a top speed of 335 km/h and 0-100 km/h acceleration in 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. The series recently stated its continued intention to begin in the Middle East despite several other championships moving events away from the area. With the new format and advanced technology, the arrival of Fortescue Zero Racing adds to the competition's appeal.
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. Speculation about the driver lineup is rife, but the team has made no official statement. What is clear is that Forrest and Fortescue are serious about on-track success.
For fans, this move signals that Formula E is increasingly attractive to major investors. With Fortescue's financial and technological backing, the team has the potential to become a new force. We look forward to seeing them in action next season.
Baca Juga
Fortescue Zero akuisisi tim Formula E Penske dan akan debut musim 2026/27 dengan powertrain Jaguar di era GEN4. Simak analisis lengkapnya.
Envision Formula E resmi mengumumkan Maximilian Guenther dan Zak O'Sullivan sebagai pembalap untuk era GEN4. Simak analisis lengkapnya di sini.
Fortescue Zero resmi akuisisi Team Penske untuk era Gen4 Formula E. Jaguar pasok enam mobil di grid 2026-27, Penske berganti identitas.
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