Mining billionaire Andrew Forrest has launched a new all-electric racing team, Fortescue Zero Racing, and used the launch to throw down a challenge to Formula One: race us head to head.
The team will compete in the 2026/27 Formula E World Championship, the all-electric racing series, with two Jaguar-powered cars. It is the first Australian-owned team in the championship, and its first race is the Jeddah E-Prix in Saudi Arabia on 18–19 December 2026.
Forrest, the founder and executive chairman of iron ore miner Fortescue, unveiled the team and its new Gen4 car in London on 6 November 2026. Fortescue is the mining and green energy company Forrest founded, and the racing team carries the name of its green technology arm, Fortescue Zero.
What is Fortescue Zero Racing?
Fortescue Zero Racing is a new Formula E team owned by Andrew Forrest. It was formed after Fortescue acquired Penske Autosport in September 2026, taking over that team’s place on the Formula E grid.
The team will run two cars under the new Gen4 rules that come in for the 2026/27 season. The cars use a powertrain supplied by Jaguar, the reigning Formula E champions, and will be driven by British drivers Dan Ticktum and Taylor Barnard.
Team principal is Jim Wright, who previously worked with Williams and Racing Bulls (then Toro Rosso) in Formula One. “We’re not here to blend in. We’re here to build a team that competes, does things differently and earns its place on the grid,” Wright said at the launch.
The car’s livery is Fortescue’s trademark electric green, with a topographic map of the Pilbara — the Western Australian mining region where Fortescue’s iron ore operations are based — worked into the design. The letters “AF-FW” on the side pay tribute to Forrest and to the late Sir Frank Williams.
Forrest’s challenge to Formula One
The launch made headlines because Forrest did not hold back about Formula One, calling it a relic that belongs in a museum.
“I think Formula 1 has a place,” Forrest said. “It should have a very large building with Formula One at the front of it, made out of limestone, with lights on it, and it should be a museum because the younger generation are going to go to the highest-performance, greatest technically advanced and kindest to the environment racing there is, and that’s going to be Formula E.”
He described Formula One cars as “noisy, smoky and smelly” and challenged the sport to a straight head-to-head race against Formula E.
“I want to see Formula 1 go head to head with Formula E. And then I want to say ‘how many decades did they have to get this right, and how many months did we have to get it right’,” Forrest said. “Let’s just put it to the test. I don’t care if we come first or second.”
For now, Formula One cars are still clearly quicker than Formula E cars. But the gap is closing fast, and the new Gen4 cars are a big step forward for the electric series.
The new Gen4 car: how fast is it?
The 2026/27 season introduces Formula E’s fourth-generation car, and the numbers show how far electric racing has come:
- Power: around 600kW, up sharply on the previous generation
- Weight: 1,016kg
- 0–100km/h: about 1.8 seconds
- 0–200km/h: about 4.2 seconds — roughly 30 per cent quicker than a Formula One car over that measure, according to Formula E
- All-wheel drive: permanent active all-wheel drive, a first for the series
- Regenerative braking: up to 40 per cent of the energy used in a race can come from regenerative braking
- Sustainability: at least 20 per cent recycled materials in every car, and the cars are designed to be fully recycled after use
For comparison, today’s Formula One cars make around 750kW and weigh less than 800kg — still the faster machines overall, but the Gen4 cars are expected to be quicker than the current Formula 2 cars.
The drivers: Dan Ticktum and Taylor Barnard
Fortescue Zero Racing has signed two British drivers, both with Formula E experience and junior single-seater pedigree.
Dan Ticktum joins from Cupra Kiro, where he took two race wins across two seasons. The 2026/27 season will be his sixth in Formula E. “It’s exciting to be part of building a new team from the ground up,” Ticktum said. “I’m really grateful to be part of this and I’m looking forward to getting started.”
Taylor Barnard came through the McLaren junior program. He will partner Ticktum in the team’s second car.
Why is a mining billionaire backing electric racing?
The racing team is not a vanity project — it fits with the direction Forrest has been pushing Fortescue for years. The company made its money from iron ore in the Pilbara, but Forrest has spent the past several years trying to turn it into a green energy business, investing in hydrogen, batteries and electric technology through Fortescue Zero.
Fortescue already has motorsport ties: it bought Williams Advanced Engineering, the technology arm of the Williams Formula One team, in 2022, and previously supplied battery technology to Formula E.
A Formula E team gives Fortescue a shop window for its electric technology and a way to show that battery power can be fast as well as clean. It also puts an Australian-owned team on the grid of a world championship for the first time.
When does Fortescue Zero Racing first race?
The 2026/27 Formula E season starts with the Jeddah E-Prix at the Jeddah Corniche Circuit in Saudi Arabia on 18–19 December 2026. That will be Fortescue Zero Racing’s competitive debut, just six weeks after the launch.
From there the championship visits street circuits around the world, including the usual rounds in cities such as Mexico City, Miami, Berlin and London.
Frequently asked questions
Who owns Fortescue Zero Racing?
Australian mining billionaire Andrew Forrest, the founder and executive chairman of Fortescue. The team was formed after Fortescue acquired Penske Autosport in September 2026.
What is Formula E?
Formula E is the FIA’s all-electric single-seater world championship. Cars race on street circuits in major cities, and the series is built around electric powertrains, energy management and regenerative braking.
Who drives for Fortescue Zero Racing?
British drivers Dan Ticktum and Taylor Barnard, in two Jaguar-powered Gen4 cars. Jim Wright is the team principal.
When is the team’s first race?
The Jeddah E-Prix in Saudi Arabia on 18–19 December 2026, the opening round of the 2026/27 Formula E season.
Is Formula E faster than Formula One?
Not yet overall. Formula One cars still make more power (around 750kW versus about 600kW) and weigh less, so they are quicker over a lap. But the new Gen4 Formula E cars accelerate from 0–200km/h in about 4.2 seconds, which Formula E says is roughly 30 per cent quicker than a Formula One car over that sprint.
The bottom line
Andrew Forrest has put his money behind electric racing at a time when Formula E is getting faster, and he is not shy about saying so. Fortescue Zero Racing is a new team with a Jaguar powertrain, two experienced drivers and a famous owner who wants to prove a point.
Whether Formula One ever takes up his head-to-head challenge is another matter. But when the lights go out in Jeddah on 18 December, the first Australian-owned Formula E team will be on the grid — and plenty of people will be watching to see how fast it really is.
