Formula E: Jay Penske reportedly sells team stake to Jaguar partner Fortescue Zero

Penske appears to be heading for a major shake-up following DS Automobiles' withdrawal from Formula E. According to a report by Italian newspaper Il Messaggero, team owner Jay Penske has sold a stake in his racing operation to Fortescue Zero. The company is a long-standing technical partner of Jaguar TCS Racing and is deeply involved in the development and operation of its Formula E programme. The move would mean a total of six cars powered by Jaguar technology on the Gen4 grid. The deal has yet to be officially confirmed.

he report does not specify how large a stake Fortescue Zero is believed to have acquired. The sporting implications of the investment, however, appear much clearer: Jaguar has already confirmed that it will continue supplying long-standing customer team Envision Racing with its powertrain in the Gen4 era. Penske would add another two cars to that total.

Fortescue Zero already deeply embedded in Jaguar Formula E operation

Should a significant stake in the Penske team have been transferred to Fortescue Zero, the company would effectively control two Formula E teams. Jaguar TCS Racing itself is already closely integrated with its technical partner: the team is based at Fortescue's facility in Kidlington, where the Jaguar powertrain is also developed and assembled. Numerous Jaguar TCS Racing vacancies, including positions for mechanics and engineers, are even advertised directly by Fortescue Zero.

6 Jaguar-powered cars in Gen4 & parallels with Porsche

With Penske, Jaguar would therefore have a total of six cars in the Gen4 era: two operated by the works team, two by Envision and two by Penske. Porsche will have a similar presence from Season 13, with six cars using its powertrain, including four entered directly by Porsche.

The timing of a potential change in ownership is also significant ahead of the entry process for Season 13. Teams have until September 14 to submit their applications for the first Gen4 campaign and must provide the FIA with information about their ownership structure.

Taylor Barnard, winner of the season finale in London, is understood to be set to remain with Penske for the coming season. His team-mate Maximilian Günther has already announced that he will leave the operation and has himself been linked with a move to Envision Racing.

Fortescue Zero's acquisition of a stake in the Penske team has not yet been officially confirmed. However, with the Season 13 entry deadline approaching, the ownership structure and Penske's future in the Gen4 era are likely to become clearer in the coming weeks.