Motor racing-McLaren signs option on 2022-23 Formula E entry

McLaren Applied Technologies is the exclusive battery supplier of the series until 2022, with McLaren precluded from competing until that contract expires. "We’ve been closely observing Formula E for some time and monitoring the series’ progress and future direction," said McLaren Racing CEO Zak Brown in a statement.

McLaren Racing have signed an option to compete in the electric Formula E championship from 2022-23, the Formula One team announced on Monday. The British-based team will spend 2021 assessing the feasibility of joining the series for season nine, when a lighter and more powerful Gen3 car makes its debut with faster charging. BMW, whose team are run by U.S.-based Andretti Motorsport, and Audi have both announced they are leaving the series at the end of this year.

Formula E, a recognised FIA-backed world championship, allows a maximum 12 entries. McLaren Applied Technologies is the exclusive battery supplier of the series until 2022, with McLaren precluded from competing until that contract expires.

"We’ve been closely observing Formula E for some time and monitoring the series’ progress and future direction," said McLaren Racing CEO Zak Brown in a statement. "The opportunity to take an option on an entry, together with the completion of the McLaren Applied supplier contract... gives us the necessary time to decide if Formula E is right for McLaren as a future competition platform."

Formula One is introducing a budget cap this year and some teams are looking at shedding staff by redeploying them to other areas. "McLaren Racing securing an option to join the Formula E grid from Gen3 is testament to the ongoing impact of our sport," said series founder Alejandro Agag in a statement.

The seventh Formula E season is due to start in Saudi Arabia with night races on Feb. 26 and 27.