In a landmark move for international motorsport, Fortescue Zero is set to become the first Australian-owned team on the Formula E grid. The electrification arm of the global mining giant has reached an agreement to acquire the Penske Autosport operation, marking a bold transition from technical partner to full-scale competitor starting with the 2026/27 season.
The acquisition, which remains subject to final approval from the FIA and Formula E promoter FEO, will see Fortescue Zero run as a customer team utilizing Jaguar’s Gen4 powertrain. This development significantly expands the footprint of the British manufacturer in the series, with Fortescue Zero’s two entries joining the four cars already fielded by the factory Jaguar squad and Envision Racing.
For Fortescue Zero, the move is the culmination of a decade-long involvement in the sport. Having previously served as the official Pit Boost provider and a long-standing technical partner, the company’s roots trace back to Williams Advanced Engineering. Today, the firm specializes in high-performance electrification, applying race-bred technology to its mining and energy portfolios.
Gus Pichot, CEO of Fortescue Growth and Energy, described the team’s entry as a natural evolution for the brand. “For more than a decade, Fortescue Zero has been the brains behind some of the groundbreaking technologies powering electric racing,” Pichot said. “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.”
The transition provides a critical real-world laboratory for Fortescue’s engineering team. Travis Hester, Fortescue Zero’s chief technology officer, emphasized that the intense environment of Formula E is the perfect proving ground for next-generation hardware. “Battery, software, and hardware technology is proven in the harsh environment of racing, then efficiency applications are applied throughout Fortescue’s mining and energy portfolio, as well as our automotive and defense customers,” Hester noted.
Jay Penske, the outgoing owner of Penske Autosport, expressed confidence that the infrastructure his team has built is being passed into capable hands. “Fortescue Zero has a clear ambition for electric technology and motorsport, and we know it will build upon the great foundations we have laid and lead to future success,” he said.
Formula E CEO Jeff Dodds also lauded the news, framing the entry as a testament to the series’ role as a global technology incubator. “Fortescue Zero has been a vital technology partner for Formula E from day one,” Dodds said. “We are excited to see the competitive edge and innovation they will bring to the Gen4 era of the ABB FIA Formula E World Championship.”
As the series prepares for its next technological leap, the presence of an Australian-owned team signals a new chapter for the championship, blending heavy-industry expertise with the high-stakes world of elite electric racing.
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