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U.S.-based investment firm The Forest Road Company has taken over the ERT Formula E team, rechristening it Kiro Race Co ahead of the upcoming season. The deal has been financed by David Kaplan and …
The Forest Road Company, an American investment firm, has acquired the ERT Formula E team and renamed it Kiro Race Co for the upcoming season. The deal was backed by David Kaplan and Bennett Rosenthal of Ares Management, with Liberty Global’s recent purchase of the series playing a significant role in their decision. Kiro Race Co, led by Forest Road’s Jeremy Tarica, aims to establish itself as a major player in electric vehicle racing. The team, previously known under different names, will now operate under a U.S. license, joining Andretti and DS Penske as American representatives in Formula E. In a strategic move, Kiro Race Co will partner with Porsche for powertrains, becoming the third team in the series to utilize the renowned German manufacturer’s technology. The team’s principal, Alex Hui, expressed excitement for the collaboration and the opportunities it brings for future success in the championship. The upcoming Formula E season will see Kiro Race Co debut its new identity in Sao Paulo, with driver announcements yet to be revealed, signaling a new chapter in the team’s journey in the world of electric racing. Formula E CEO Jeff Dodds praised the acquisition as a significant milestone that will contribute to the growth and appeal of the championship on a global scale.
