McLaren Will Supply EVs for Formula E Racing

U.K.-based McLaren Group has been signed to build at least 42 electric cars for a new Formula E racing series scheduled to begin in 2014.

McLaren, which also fields a Formula One racing team, will provide the new series with electric powertrains and electronic controllers. Still-unnamed suppliers will provide chassis and batteries for the cars.

The FIA, which sanctions F1 and other racing programs, created the Formula E series to showcase EV technology. The group has set a vehicle development budget cap of about $555,000 per car for the first season, which plans to stage races at 10 venues around the world.

In August Rio de Janeiro became the first city to sign up for a Formula E race, all of which will be staged on city streets.

Commercial rights to the new series were awarded to Hong Kong-based Formula E Holdings Ltd. The consortium anticipates a first-year grid of 10 teams and 20 drivers. The FIA hopes to lure several F1 teams into the series.

The Formula E cars will be based on a prototype developed by the French EV racing firm Formulec. The vehicles, which weigh 1,700 lbs, can zip from zero to 62 mph in three seconds and race for about 25 minutes per charge. Each driver will switch to a second EV to complete a race.