Yash Bajaj

New Delhi, Delhi, India

McLaren will be taking over the Mercedes Formula E team from the next season. The six-time constructors champions are leaving the all-electric sport to “concentrate its works motorsport activities” on Formula 1. ,Also read: After meeting Michelle Obama, Lewis Hamilton weighs in on Roe v. Wade,Formula E has announced a new Gen3 era starting 2023. McLaren will join Maserati, Mahindra, Jaguar, DS Automobiles, Nissan, Porsche and NIO 333 on the grid. The British automotive company, since signing an option in January 2021, has been assessing whether to add Formula E to their portfolio. McLaren cars already run in Formula One, Indy Car, the electric off-road Extreme E championship and esports. The Gen 3 cars, hailed as the world's most efficient, are expected to touch speeds of 320 kph (200 mph). Also read: Is Netflix behind Formula 1's American boom?,Formula E has racing at the centre but will be strategically, commercially and technically additive to McLaren Racing overall. It is also satisfying to provide a home for the class-leading Formula E team that Mercedes has built, which will become a fully-fledged part of the McLaren Racing family, McLaren Racing chief executive Zak Brown said. ,The McLaren Group's majority is owned by Bahrain's sovereign wealth fund Mumtalakat. I firmly believe that Formula E will give McLaren Racing a competitive advantage through greater understanding of EV racing, while providing a point of difference to our fans, partners and people, Brown said. ,Also read: Formula 1: Daniel Ricciardo has retirement on mind? McLaren driver opens up,A $13 million cost cap will be in place for the 12 teams in 2023. ,I wanted McLaren to be part of the ... championship since Season One and I'm delighted we finally made it happen, Formula E founder Alejandro Agag said. ,But it is so much more than just deciding to go racing. Being part of Formula E signals a strategic investment in the future of electric vehicle development. Commenting on why McLaren wants to join Formula E, Brown said, “While run separately to our F1 and IndyCar teams, Formula E complements and builds out our EV racing programme alongside Extreme E. I firmly believe that Formula E will give McLaren Racing a competitive advantage through greater understanding of EV racing, while providing a point of difference to our fans, partners and people, and continuing to drive us along our sustainability pathway.

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<ul>
  <li>McLaren will be taking over the&nbsp;Mercedes Formula E team from the next season</li>
  <li>Formula E has announced a new "Gen3" era starting 2023</li>
  <li>The Gen 3 cars, hailed as the world's most efficient, are expected to touch&nbsp;speeds of 320 kph</li>
</ul>

#FormulaE

Why is McLaren joining Formula E? CEO Zak Brown reveals