Fortescue's Formula E team criticizes Formula 1 at launch

Australian mining billionaire Andrew Forrest said on Friday, at the launch of the all-electric Fortescue Zero Racing Formula E team, that Formula 1 should be in a museum. Forrest also said he wants cars from the two series to race against each other, challenging the combustion-engined series.

Forrest argued that Formula E will be the highest-performing, most technically advanced and most environmentally conscious racing of the next generation. In his words, "Formula 1 is great, but its time is running out." Formula E's global television audience is much smaller than Formula 1's.

Formula E has announced that its new Gen4 car, which will race in the 2026/27 season, will reach 100 km/h in 1.8 seconds and 200 km/h in 4.2 seconds. This performance is said to be about 30 percent faster than a Formula 1 car. The common link between the two series is Liberty Media, owner of Formula 1, and Liberty Global, owner of Formula E, which was founded by American billionaire John Malone.

Fortescue Zero Racing was formed last September with the purchase of Penske Autosport and became the first Australian-owned team in Formula E. Champion Jaguar will supply the power unit for the Gen4 car. The drivers are Britons Dan Ticktum and Taylor Barnard. In 2022 the company bought Williams Advanced Engineering from Williams; before that, it was a battery technology supplier in Formula E.

The Williams connection continues too. Former marketing chief Jim Wright is the team principal, while Claire Williams, who ran the team founded by Frank Williams, is Fortescue's ambassador. Forrest described Frank Williams as his mentor. The letters FW on the new car were chosen as a tribute to Wright and Claire Williams' ties to Australia, and to 1980 Formula 1 world champion Alan Jones, who passed away on Thursday.