Fortescue Racing is a British-based Australian racing team which is set to compete in Formula E. The team, owned by mining and energy giant Fortescue, was bought out from Penske Autosport in September 2026.
History On 24 January 2022, Australian mining and energy firm Fortescue announced its purchase of Williams Advanced Engineering for £164m. In January 2023, the company was renamed WAE Technologies. In June 2024, it was rebranded again as Fortescue Zero. Fortescue Zero supplied the battery technology used in Extreme E and Formula E Gen3 cars, as well as the new-for-2025 Pit Boost, and is the service provider for Jaguar Racing since 2016.
On 18 September 2026, Andrew Forrest announced the buyout of Penske Autosport, thus adding full ownership of a team to Fortescue's Formula E portfolio. The team are set to run Jaguar powertrains and be based in Kidlington, England. Jim Wright was appointed as team principal.
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