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The DriveAgent NewsroomSaturday, 19 September 2026
EVs & hybrids

Fortescue Zero lines up Formula E entry through Penske acquisition

Fortescue Zero has announced plans to acquire the Penske Autosport Formula E operation and enter the ABB FIA Formula E World Championship from the 2026/27 season, pending approvals.

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Concept illustration accompanying: Fortescue Zero lines up Formula E entry through Penske acquisition
Original DriveAgent concept illustration, not a photograph of the vehicle or event. DriveAgent · Editorial designMining giant Fortescue to enter team in world's biggest electric racing series as it aims to eliminate fossil fuels

Fortescue Zero moves to join Formula E

Fortescue Zero has announced plans to enter the ABB FIA Formula E World Championship by acquiring the existing Penske Autosport Formula E operation. The move places Fortescue’s electrification arm into what the company and motorsport coverage describe as the world’s biggest electric racing series, with the intended entry targeted for the 2026/27 season and still subject to approvals from Formula E and the FIA. 1239

A customer team with Australian significance

The planned outfit is being described as a customer team rather than a factory works entry, and reporting indicates it will run Jaguar GEN4 powertrains. Fortescue has framed the project as the first Australian-owned team in Formula E, which gives the announcement relevance beyond motorsport: it links an Australian mining and energy company to a global electric racing platform at the start of a new technical cycle. 123579

Our take

In our view, the significance of this move is less about racing alone and more about Fortescue using Formula E as a public-stage demonstration of its electrification strategy. One possible implication is that an Australian-owned team in a high-profile EV championship could sharpen attention on the company’s rapid-charging and zero-emissions messaging, but any commercial or reputational impact in Australia remains unconfirmed. The timing also matters: the entry is aligned with Formula E’s Gen4 era, which should give the programme immediate technical relevance if the approvals come through. 1389

Sources

How we research and correct our articles

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  6. Nuovo team dal 2027: Fortrescue Zero rileva Penskeformulapassion.it · 18 Sept 2026 · accessed 19 Sept 2026
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  8. Neues Team in der Formel E! Jaguar legt im Duell mit Porsche nachmotorsport-magazin.com · 18 Sept 2026 · accessed 19 Sept 2026
  9. Fortescue Zero purchases Team Penske for Formula E's Gen4 eramotorsport.com · 18 Sept 2026 · accessed 19 Sept 2026
  10. Newsfortescue.com · 14 Aug 2026 · accessed 19 Sept 2026
  11. Closing With A Classic Duofiaformulae.com · 18 Sept 2026 · accessed 19 Sept 2026
  12. REVEALED: Fortescue Zero take over Penske FE Teamfenotebook.com · 17 Sept 2026 · accessed 19 Sept 2026
  13. Teams - ABB FIA Formula E World Championshipfiaformulae.com · 18 Sept 2026 · accessed 19 Sept 2026
  14. Global Zero Investors Careers Newsfortescue.com · 4 July 2026 · accessed 19 Sept 2026
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