• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon

2

Current price of oil as of June 8, 2026

3

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

1

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon

2

Current price of oil as of June 8, 2026

3

Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Audi

Why Audi Is Launching an Electric Car Race Team

By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
September 2, 2016, 2:21 PM ET
FIA Formula E 2016/2017
ABT Schaeffler FE02Courtesy of Audi AG

Formula E, a class of auto racing that uses only electric-powered cars, has landed another automaker. Audi AG, which has sponsored a team since Formula E’s inaugural season in 2014, will enter its own factory team into the racing series next year.

The German automaker said Friday it is expanding its partnership with Formula E Team ABT Schaeffler Audi Sport in the upcoming third season, which kicks off October 9 in Hong Kong. Audi also announced plans to launch its own factory-backed motorsport program for the 2017-2018 season.

The move follows Audi increasing investment in electric passenger vehicles.

“By 2025, every fourth Audi should be an electric vehicle,” Dr. Stefan Knirsch, a member of Audi’s board of management, said in a statement. “The first model for this is planned to be an SUV we’re going to present in 2018. In the light of these plans, adapting our motorsport program and taking up a commitment in a fully electric racing series is only a logical move.”

Audi has used motorsport to test and develop new technologies that were subsequently used in production, according to Dr. Wolfgang Ullrich, Audi’s head of motorsport.

Formula E is an all-electric urban racing series that was launched as a test bed for research and development around electric vehicles to generate interest in the cars, and to promote clean energy and sustainability. The global racing series is overseen by the Fédération Internationale de l’Automobile, the same body that organizes Formula One. Formula E travels to 10 cities.

You can legally drive this single-seat race car on the road:

Early skepticism about the racing series has faded as more automakers announce plans to either sponsor teams or enter their own factory teams.

Jaguar Land Rover has a team racing in Formula E’s upcoming season, the first time the British automaker has had a motorsport team since it left Formula One more than a decade ago.

Faraday Future, the electric car startup backed by Chinese billionaire Jia Yueting, also announced a partnership with Dragon Racing, a team owned by Jay Penske that races in the FIA Formula E Championship. Faraday Future will be a core technical partner and title sponsor of the team owned by Penske, a media and publishing entrepreneur who has deep roots in professional racing.

About the Author
By Kirsten Korosec
See full bioRight Arrow Button Icon

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

AI isn’t replacing Hyatt’s salespeople—it’s freeing up a full day of work every week, according to the CEO
AIBrainstorm Tech
AI isn’t replacing Hyatt’s salespeople—it’s freeing up a full day of work every week, according to the CEO
By Sharon GoldmanJune 9, 2026
48 minutes ago
America’s grid is reeling. General Motors offers itself as a distributed utility in disguise
EnergyAutos
America’s grid is reeling. General Motors offers itself as a distributed utility in disguise
By Nick LichtenbergJune 9, 2026
52 minutes ago
Tesla cofounder: ‘We should be really worried’ about the U.S. grid as China speeds ahead in the power race
EnergyBrainstorm Tech
Tesla cofounder: ‘We should be really worried’ about the U.S. grid as China speeds ahead in the power race
By Jordan BlumJune 9, 2026
1 hour ago
Trump’s 80th birthday present is a UFC cage on the South Lawn of the White House
North AmericaDonald Trump
Trump’s 80th birthday present is a UFC cage on the South Lawn of the White House
By Will Weissert and The Associated PressJune 9, 2026
1 hour ago
President Donald Trump signing an executive order introducing a $100,000 fee for H-1B visas.
LawImmigration
Trump’s $100,000 visa fee is dead in one court and alive in another, setting up Supreme Court brawl
By Michael Casey and The Associated PressJune 9, 2026
2 hours ago
FIFA says ‘market rates’ explain World Cup prices. Economists say the market was rigged by design
Travel & LeisureNew York City
FIFA says ‘market rates’ explain World Cup prices. Economists say the market was rigged by design
By Catherina GioinoJune 9, 2026
2 hours ago

Most Popular

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
Environment
Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
By Sasha RogelbergJune 8, 2026
1 day ago
Current price of oil as of June 8, 2026
Personal Finance
Current price of oil as of June 8, 2026
By Joseph HostetlerJune 8, 2026
1 day ago
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
23 hours ago
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
Success
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
By Preston ForeJune 7, 2026
2 days ago
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
Economy
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
By Nick LichtenbergJune 7, 2026
2 days ago
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
Economy
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
By Jim EdwardsJune 8, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.