Fortescue Zero Launches Racing and Innovation Team to Become First Australian-Owned Outfit in Formula E

Advanced engineering and green energy Fortescue Zero is expanding its footprint in motorsport, acquiring the Penske Formula E operation to launch a dedicated racing and innovation team for the upcoming 2026/27 season.

Subject to formal approval by the Fédération Internationale de l’Automobile (FIA) and Formula E Operations (FEO), the venture will make history as the first Australian-owned outfit to compete in the ABB FIA Formula E World Championship. Transitioning from a technical supplier and Official Pit Boost provider to a full constructor entrant, the team will compete utilising Jaguar’s advanced GEN4 powertrain architecture.

Outlining the rationale behind the expansion, Fortescue Growth and Energy CEO, Gus Pichot, emphasised the dual purpose of high-performance racing as an industrial incubator.

“For more than a decade Fortescue Zero has been the brains behind some of the groundbreaking technologies powering and transforming electric racing.”

“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, motorsports is more than just a chance to take home a championship trophy, it’s a platform to develop, test and hone in on the next great technologies that will transform industries beyond racing,” Pichot stated.

Welcoming the entry into the electric championship organisation, Formula E CEO, Jeff Dodds, underscored the historical alignment between the two organisations.

“Fortescue Zero has been a vital technology partner for Formula E from day one, standing alongside us since the inception of the Championship.”

“Formula E is far more than a racing series, it’s an incubator for peak performance and ground-breaking technology, and Fortescue Zero exemplifies both.

“We are excited to see the competitive edge and innovation they will bring to the GEN4 era of the ABB FIA Formula E World Championship.” Dodds noted.

The move leverages Fortescue’s extensive high-performance heritage, tracing back to its roots in Williams Advanced Engineering, to test cutting-edge battery software and electrification solutions in extreme track environments before scaling applications across global heavy industry and commercial fleets.

The arrival of the GEN4 technical regulations for the 2026/27 season introduces permanent all-wheel drive, active aerodynamics, and enhanced power outputs scaling up to 600kW in attack mode, creating a high-stakes proving ground for sustainable automotive technology.

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