McLaren to exit Formula E at end of the season
LONDON, April 25 (Reuters) - McLaren will leave the all-electric Formula E championship at the end of the 2024-25 season to focus on Formula One, IndyCar and a new hypercar project from 2027 in the World Endurance Championship.
The reigning Formula One constructors champions said in a statement on Friday that the decision, after three seasons in Formula E with a team racing under the McLaren brand, followed a strategic review of activities.
"The time is right to explore other opportunities that more closely align with McLaren Racing's overall strategic direction -- including our 2027 entry into the FIA World Endurance Championship," said McLaren CEO Zak Brown.
"For now, we are focused on setting this great team up for future success by working towards securing a new owner."
A Formula E spokesperson raised the possibility of the partnership continuing through next year.
"We recognise that the commercial landscape in motorsport is dynamic and often subject to change," the spokesperson added. "Despite this development, the team... is already engaged in positive discussions with potential partners and investors.
"We are confident the team will remain a strong presence in the championship, operating under a new identity if required."
McLaren took over the British-based team from Mercedes when the German carmaker left at the end of 2022 to focus on Formula One.
The team, sponsored by Saudi Arabia's NEOM, was founded in 2019 and ran separately, under the leadership of Ian James, to McLaren's Formula One and IndyCar outfits. It is third overall after five rounds.
Formula E puts its global fan base at nearly 400 million.
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