P1racenews AI automatic summary:
US-based investment firm Forest Road has purchased Chinese FIA Formula E team ERT, now known as Kiro Racing Co. The company has acquired 100 percent of the team, and will now race under an American licence. It has also confirmed that, after much anticipated speculation, it will no longer be a standalone manufacturer, announcing a […]
The company has acquired 100 percent of the team and will now compete under an American license. They have announced a technical partnership with Porsche, gaining access to the German marque’s powertrains. The team teased their changes last week, unveiling their new name on their website and X account. Formula E delayed the original announcement to finalize details, citing Forest Road’s confidence in the series. Team Principal Alex Hui expressed excitement and confidence in their future partnership with Forest Road and Porsche. Forest Road’s Managing Director, Jeremy Tarica, emphasized their commitment to making Kiro Race Co a leading force in the industry, praising Formula E’s technological advancements. Formula E CEO Jeff Dodds welcomed the investment, expecting it to boost the Championship’s growth and fan appeal. No drivers have been confirmed yet, but Sergio Sette Camara and Dan Ticktum are expected to remain with the team during the transition.
