Written by Jake O'Callaghan
The ERT Formula E team has officially been bought out, and will compete under the name 'Kiro Race Co.' from Season 11 (2024/'25), according to an announcement made by the team today.
Los Angeles-based investment firm Forest Road has acquired 100% of the team, and they will hit the track with their new identity for the first time later this year. They will also compete under an American license, switching from their previous Chinese entry. Despite this rebrand, the team will remain at their current base in Silverstone, UK.
Another major headline in the team's announcement today was that they will be using Porsche powertrains from Season 11 onwards. Previously, the team had been constructing their own bespoke powertrain, though it has offered little success in recent season.
Porsche's powertrain has been the one to beat in recent years, having won the last two drivers' championships with Andretti's Jake Dennis and Porsche's own Pascal Wehrlein respectively. They have not won a teams' championship as of yet.
Kiro will become the third team in the Porsche family, joining the aforementioned Andretti Global, along with the factory Porsche team.
Jeremy Tarica, Managing Director of Forest Road stated in a release today: "We are thrilled to enter the Formula E World Championship and start our journey as Kiro Race Co. The Championship is at a pivotal moment of maturation from a macro and micro perspective.
"As the world embarks on a massive transition to electric vehicles, the race product has achieved a significant breakthrough in technology with the fastest accelerating single-seater cars. We are committed to helping Kiro become a leading force in the industry."
They competed under the name 'ERT Formula E Team' in season 10, finishing 11th and last in the championship with just 23 points scored across the season.
Before this they had competed in Formula E under various different monikers such as NIO 333, NEXTEV, and China Racing. They had competed under a Chinese license since the inception of Formula E in 2014.
The team has competed in every season of Formula E, with their greatest moment coming in Season 1 where they won the drivers' championship with Nelson Piquet, Jr. In recent years, the team has struggled due to an underpowered drivetrain, among other factors.
Unfortunately, the team hasn't finished higher than eighth in the teams' standings since 2017. Their driver lineup in recent years has been composed of Sergio Sette Camara and Dan Ticktum, both of whom have performed well given the circumstances, but the team has failed to yield major results.
Although, the team's lineup for Season 11 is, as of yet, unconfirmed.
Formula E will return to the track for Season 11 on the 7th of December, with the opening race of the season at Sao Paulo. Before that, however, they will take part in pre-season testing at Valencia from 7th to 10th November.
All eleven teams, including Kiro Race Co will be testing their Gen 3 Evo machinery in a bid to prepare for the upcoming season.
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