McLaren takes over the reins of the Mercedes Formula E team
The deal between McLaren and Mercedes is expected to close later this year.
McLaren announced on Saturday that it will take over the Mercedes Formula E team and compete in the all-electric world championship when it enters a new ‘Gen3’ era in its ninth season next year. Mercedes won both city series championships last year, but the brand had already announced its departure to focus on Formula 1.
According to a Reuters report, McLaren signed an option in January last year and has since been weighing whether to add Formula E to a portfolio including Formula 1, Indy Car, electric off-road championship Extreme E and esports. McLaren Racing managing director Zak Brown said: “Formula E has racing at its core, but will be strategically, commercially and technically complementary to McLaren Racing as a whole.” Brown also mentioned that it would be satisfying to provide a home for the class-leading Formula E. the team that Mercedes built and merging it into an integral part of the McLaren Racing family.
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The deal between McLaren and Mercedes is expected to be finalized later this year, while Mercedes boss Ian James will continue his role in a team founded in 2019. “I strongly believe that Formula E will give McLaren Racing a competitive edge. through a better understanding of electric vehicle racing, while providing a point of difference for our fans, partners and people,” added Brown. McLaren Racing is part of the McLaren Group, which includes the supercar maker and a large part of it belongs to Bahrain’s sovereign wealth fund Mumtalakat.
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Automakers namely Nissan, Jaguar, Porsche, Mahindra, DS and Maserati owned by Stellantis and China’s Nio have signed up for the 2023 season in which a cost cap of $13 million will be in place for the 12 teams.
Date of first publication: May 14, 2022, 5:29 PM IST