Car manufacturer, Nissan, have announced the acquisition of Formula E racing team, e.dams, taking full ownership of the team.

The purchase furthers Nissan’s long-term commitment to electrification and sustainability, additionally, the ownership and new management structure will take place immediately, with Nissan general manager of Formula E, Tommaso Volpe, also becoming the managing director of e.dams.

Commenting on the acquisition, Nissan COO, Ashwani Gupta, said: “These are exciting times for all of us at Nissan, our fans and customers everywhere.”

“We have been on the grid for over 85 years, and our desire to win continuously accelerates us forward.

“We learn as we race, and the relentless pace of technological progression that drives the Formula E championship will provide us with many opportunities to inform and develop even better cars for customers.

“The acquisition of the e.dams team not only reconfirms our long-term commitment to Formula E, but also to the exciting, high-performance world of motorsports competition as a whole.”

“But we don’t only love to compete.

“We’re also passionate about delivering innovative and exciting driving experiences while demonstrating our commitment to zero emission and sustainable solutions.

“This acquisition will further empower us in the strategic electrification objectives of our business,” he said.

Nissan general manager of Formula E, Tommaso Volpe, added: “This is an important step in our Formula E project.”

“As the pinnacle of all-electric racing, Formula E gives us an engaging global platform from which we can show customers that EVs are not only fun and thrilling, but also that Nissan continues to be at the cutting edge of EV technology.

“We were happy to enter the sport in 2018 in partnership with e.dams.

“We have had a strong and successful collaboration, and we have learnt a great deal from their long-term experience in the series.

“We have a fantastic team in place, and we are looking forward to building on our success and experience together as a team, and to beginning this new chapter in our Formula E involvement,” he said.

The announcement comes after Stan Sport acquired the Formula E broadcasting rights in February.