ERT Formula E team becomes Kiro Race Co

Following the takeover, ERT, which stood for Electric Racing Technologies, will be rebranded as Kiro Race Co for Season 11 of the Formula E world championship.

Perhaps most interesting from a performance standpoint is a brand-new deal to make use of Porsche powertrains next season. The team has struck a deal to use the 2023/24-spec powertrains which carried Pascal Wehrlein to the drivers’ championship and very nearly claimed the manufacturers’ crown in 2024. It'll be interesting to see whether this move helps to lift ERT, whom languished at the back of the grid with its own in-house powertrain, into a more competitive position.

Alongside that announcement, Forest Road brings with it a much-needed injection of funding to the team which has struggled at the back of the field through much of the past six seasons.

Kiro Race Co is the sixth incarnation of the team that entered the first season of Formula E back in 2014 as Team China Racing, which took Nelson Piquet Jr. to the inaugural drivers’ championship. In the years since it has transformed into NEXTEV, Nio, Nio 333 and ERT.

Initial plans are for this to be a long-term investment for Forest Road alongside co-founders of Area Management Bennett Rosenthal and David Kaplan, who will become the team’s Managing Partner. The goal they say is to achieve “world-class performance” by bringing a “unique perspective” to Formula E and increasing awareness of electric racing “in the United States and around the world.”

Following this announcement, Alex Hui, who will remain onboard as Team Principal, said: “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.”

Jeremy Tarica, Managing Director of Forest Road, added: "We are thrilled to enter The Formula E World Championship and start our journey as Kiro Race Co.

“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."

Image courtesy of Motorsport Images.