After a more-than-60-year absence, Maserati is making a return to single-seater motorsports in 2023 by joining Formula E, a racing championship that only uses electric cars.
“To have this brand come into the ABB Formula E Championship, into the electric revolution that we’re pushing, is really an incredible moment for Formula E,” said founder Alejandro Agag.
Maserati’s desire to join Formula E is the byproduct of its parent company Stellantis’ pledge to invest more than $35 billion through the end of 2025 to develop software and electrify vehicles.
- Maserati will make its Formula E debut in Season 9 with the new Gen3 car.
- The company will be the first Italian brand to compete in the motorsport championship.
New Era Ahead
Despite canceling nine of its 14 scheduled races during the 2019-20 season, Formula E lost just $43,700 before taxes in its sixth season, down from a loss of $12 million the year before.
Formula E has imposed new financial regulations ahead of Season 9. The regulations enhance the long-term financial sustainability of Formula E by monitoring and controlling the spending of teams and their manufacturers.