Fortescue Zero Racing
 | |
| Founded | 2026 |
|---|---|
| Founder(s) | Andrew Forrest |
| Former names | Penske Autosport |
| Base | Kidlington, England |
| Team principal(s) | Jim Wright |
| Current series | Formula E |
| Current drivers | TBA.  TBATBA. TBA |
Fortescue Zero 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.[1][2]
History
[edit]On 24 January 2022, Australian mining and energy firm Fortescue announced its purchase of Williams Advanced Engineering for £164m.[3] In January 2023, the company was renamed WAE Technologies.[4] In June 2024, it was rebranded again as Fortescue Zero.[5] 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.[6][7]
On 18 September 2026, Andrew Forrest announced the buyout of Penske Autosport, thus adding full ownership of a team to Fortescue Zero's Formula E portfolio. The team are set to run Jaguar powertrains and be based in Kidlington, England.[8][9] Jim Wright was appointed as team principal.[10]
References
[edit]- ↑ "Fortescue Zero launches racing and innovation team". Global. Retrieved 2026-09-18.
- ↑ "REVEALED: Fortescue Zero take over Penske FE Team". FE Notebook. 2026-09-17. Retrieved 2026-09-18.
- ↑ "Fortescue: Firm owned by Australia's richest man buys Williams F1 battery arm". bbc.co.uk. 24 January 2022.
- ↑ Vaughan, Tina (3 January 2023). "WAE Technologies: All new branding for Williams Advanced Engineering". WAE.
- ↑ "Fortescue announces official re-brand of WAE to Fortescue Zero". Fortescue Zero. 10 June 2024.
- ↑ Wilde, Dominik (17 September 2026). "Penske sells Formula E team to Fortescue Zero". RACER.com. Retrieved 18 September 2026.
- ↑ Wirtz, Tobias (17 September 2026). "Formula E: Fortescue Zero takes majority stake in Penske team & signs Jaguar Gen4 deal". e-Formula.news. Retrieved 18 September 2026.
- ↑ Golding, Nick (2026-09-17). "Formula E bombshell as Penske team acquired". RacingNews365. Retrieved 2026-09-18.
- ↑ Dudley-Nicholson, Jennifer (2026-09-18). "Mining giant Fortescue to enter team in world's biggest electric racing series as it aims to eliminate fossil fuels". The Driven IO. Retrieved 2026-09-18.
- ↑ "Fortescue Zero Racing appoints Jim Wright as Team Principal". Fortescue. 23 September 2026. Retrieved 23 September 2026.
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