Fortescue Zero Acquires Team Penske to Enter Formula E’s Gen4 Era

Fortescue Zero has secured its entry into Formula E’s upcoming Gen4 era by purchasing Team Penske’s racing operation. The Australian outfit will field two Jaguar-powered cars in the 2026-27 season, which is set to begin in December. This acquisition expands Jaguar’s presence on the grid, adding to the four cars already run by its factory team and Envision Racing.

The move marks the end of Team Penske’s involvement in Formula E, which had been active since its entry into the series. Fortescue Zero’s takeover signals a fresh chapter for the team under new ownership, aligning with Jaguar’s strategic growth in electric racing.

With the Gen4 era promising technological advancements and heightened competition, Fortescue Zero’s entry is poised to shake up the grid. Their partnership with Jaguar underscores a commitment to performance and sustainability in the evolving landscape of Formula E.