Kiro Race Co Acquires ERT Formula E Team, Ushering in a New Era of American Motorsport Excellence

In a groundbreaking move, the ERT Formula E team has been acquired by a new American ownership group, The Forest Road Company, in partnership with Ares Management. This strategic acquisition marks a significant shift in the landscape of the all-electric racing series, as the team will now compete under the banner of Kiro Race Co and leverage Porsche's cutting-edge powertrain technology for the upcoming season.

Powering the Future of Sustainable Motorsport

A Transformative Acquisition

The acquisition of the ERT Formula E team by The Forest Road Company, a US-based investment firm, represents a pivotal moment in the team's history. With additional capital from Ares Management, the team will now race under an American license for the 2024-25 campaign, signaling a new era of American involvement in the world of Formula E. This strategic move not only strengthens the team's financial footing but also aligns with the growing global interest in sustainable motorsport.

Porsche Power and Technical Partnership

As part of the rebranding, Kiro Race Co has announced a new technical partnership with Porsche Motorsport. The team will be running the German manufacturer's 99X Electric powertrain, which has been renamed the 99X Electric WCG3. This partnership will provide the team with access to Porsche's cutting-edge technology and engineering expertise, allowing them to compete at the highest level of the sport.

Upgrading for the Gen3 Evo Era

The 99X Electric WCG3 powertrain will undergo an upgrade ahead of the upcoming Gen3 Evo era, ensuring that Kiro Race Co remains at the forefront of technological advancements in Formula E. While the unit may not be the latest specification used by the Porsche factory team and the Andretti customer outfit, the team's partnership with the German manufacturer will still provide a significant competitive advantage.

Porsche's Expanded Presence in Formula E

The Kiro Race Co partnership marks a significant expansion of Porsche's involvement in Formula E. As the only manufacturer to supply three teams on the grid, the German automaker's commitment to the series underscores the growing importance of electric motorsport in the global automotive landscape.

A Confident Vision for the Future

Team principal Alex Hui expressed his enthusiasm for the team's new chapter, stating, "This is truly a historic moment for our team. Bringing a US-based asset management group like Forest Road into Formula E is a testament to the series' growth and our team's potential. Their investment allows us to build with confidence for the future and compete at the highest level. We are excited to work with them and Porsche Motorsport to achieve our goals."

Kiro Race Co's Untapped Potential

The team's previous struggles with performance, finishing 11th and last in the teams' standings last season, have not dampened the optimism surrounding the Kiro Race Co project. With the backing of a sophisticated investor group and the technical partnership with Porsche, the team is poised to make a significant leap forward in the upcoming season.

Anticipation for the Driver Lineup Announcement

As the only outfit on the grid yet to announce its driver lineup for the 2024-25 season, Kiro Race Co has generated considerable anticipation among motorsport enthusiasts. The team's ability to attract top-tier talent will be a crucial factor in their quest for success in the highly competitive Formula E championship.

Formula E's Continued Growth and Attractiveness

The acquisition of the ERT Formula E team by Kiro Race Co has been welcomed by Formula E CEO Jeff Dodds, who stated, "This is a fantastic development for Formula E and for Kiro Race Co. It marks the entry of a sophisticated investor group with a strong track record in the sports and entertainment industry. This investment in the team and its ambitious new owners will help us continue to grow the championship and make it more attractive to fans and partners around the world."The Kiro Race Co Formula E team's new chapter promises to be an exciting one, with the promise of American motorsport excellence, Porsche's technological prowess, and the continued growth and evolution of the all-electric racing series.