Fortescue Zero purchases Team Penske for Formula E's Gen4 era

Jaguar will have a new customer team in the 2026-27 Formula E campaign as Fortescue Zero has acquired the Team Penske operation for the Gen4 era.

The Australian outfit will field two Jaguar-powered cars for the upcoming season that is due to start in December, adding to the four already on the grid between the factory team and Envision.

This marks the end for Penske, which joined for the inaugural season of Formula E in 2014 and had remained ever since, though under various guises due to different manufacturer partnerships.

The latest one saw it compete as DS Penske from 2022 to 2026, but the announcement in March that DS was set to leave at the end of the 2025-26 campaign put doubt over Penske’s future.

This news now confirms its fate and its successor is no stranger to Formula E, developing and supplying a range of technologies while acting as a technical partner for Jaguar.

Gus Pichot, Fortescue growth and energy CEO, said: “For more than a decade Fortescue Zero has been the brains behind some of the groundbreaking technologies powering and transforming electric racing.

“Now we’re going to show the world how we can compete on the track as well. Progressing from the pit lane to the grid is the next chapter in our motorsports story.

“We’re here to race, to win and to innovate. At Fortescue, it’s in our DNA to go to the extreme, push the limits and go further and faster than our competitors.

Jaguar TCS Racing and Fortescue Zero Racing

Photo by: Jaguar Racing

“For us, motorsport is more than just a chance to take home a championship trophy. It’s a platform to develop, test and home in on the next great technologies that will transform industries beyond racing.”

It is not yet known who the Fortescue drivers will be after Maximilian Gunther left DS Penske for Envision, while the future of former team-mate Taylor Barnard is yet to be confirmed.

“We are delighted to be working with Fortescue Zero Racing as a new customer team for Formula E’s Gen4 era,” said Jaguar boss Ian James, whose squad won the 2025-26 teams’ crown.

“Formula E remains the ideal platform to enable Jaguar to remain at the forefront of electric vehicle technology development.

“With Fortescue Zero Racing entering Formula E, we are strengthening Jaguar’s presence on the grid while supporting our shared passion for technological innovation.

“Gen4 represents an exciting new chapter for Formula E and having six Jaguar-powered cars competing for points, podiums and wins is a testament to the strength of our Formula E programme and the confidence placed in our technology.

“We can’t wait to begin this journey together.”