The deal between McLaren and Mercedes is expected to complete later this year.
McLaren announced on Saturday that it will take over the Mercedes Formula E team and will participate in the all-electric world championship when it begins a new ‘Gen3’ era in its ninth season next year. Mercedes had won both championships in the city-based series last year but the brand had already announced its departure to focus on Formula One.
According to a Reuters report, McLaren had signed an option in January last year and since then had been assessing whether to add Formula E to a portfolio that includes Formula One, Indy Car, the electric off-road Extreme E championship and esports. McLaren Racing chief executive Zak Brown said, “Formula E has racing at the centre but will be strategically, commercially and technically additive to McLaren Racing overall.” Brown also mentioned that it will be satisfying to provide a home for the class-leading Formula E team that Mercedes has built and merge it to make it a fully-fledged part of the McLaren Racing family.
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The deal between McLaren and Mercedes is expected to complete later this year while Mercedes principal Ian James will continue in his role at a team founded in 2019. “I firmly believe that Formula E will give McLaren Racing a competitive advantage through greater understanding of EV racing, while providing a point of difference to our fans, partners and people,” added Brown. McLaren Racing is part of the McLaren Group, which includes the supercar manufacturer and a major chunk of it is owned by Bahrain’s sovereign wealth fund Mumtalakat.
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Auto companies namely Nissan, Jaguar, Porsche, Mahindra, Stellantis-owned DS and Maserati and China’s Nio have signed up for the 2023 season in which a $13 million cost cap will be in place for the 12 teams.
First Published Date: 14 May 2022, 05:29 PM IST