Formula E Team Dragon Racing Takes Step From Customer Team To Manufacturer
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| Jay Penske's Dragon Racing joins ranks of Formula E manufacturers |
The new Formula E season will not only feature the return of Jaguar to open-wheel racing but also Dragon Racing's move from a customer team to a manufacturer writes HJ Mai of Sportsbusinessdaily.com.
Team Owner Jay Penske will lead his squad into season three as one of nine manufacturers in the electric racing series. Penske co-founded Dragon Racing in ‘07, and the team competed full-time in the North American IndyCar Series from '09-14 before joining Formula E. It is a major step for a team that finished second and fourth in the team standings over the last two seasons.
"Over the last eight years, since I founded Dragon Racing, I've owned and run a classic privateer race team, buying spec parts and running what we've been supplied or given," Penske said.
"This year is different and very special with the Faraday Future alliance, as it will also be the first time my team will race what we've built." Ahead of July's season finale in London, Dragon Racing revealed that it agreed to a long-term alliance with California-based mobility company Faraday Future.
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| Dragon Racing tweets photo of new car |
The company, which expects to launch its first electric vehicle in ‘17, will be the team's core technical partner as well as its title sponsor. Dragon Racing did not reveal any financial terms of the partnership, but Penske made it clear he is not in the racing business to make money.
"I'm here as a racer to win races and the championship, and the focus is not on generating profits from motorsport — that's my job at PMC [Penske Media Corp.]," he told SBD Global. However, he added that Formula E is providing the best opportunity to secure tier-one sponsors, particularly in comparison to IndyCar.
AVAILABLE SPACE: Images of the team's new car during the recently concluded preseason tests at Donington Park do not confirm Penske's positive outlook on sponsorships, as only Faraday Future and Mouser Electronics are featured on the cars, along with official Formula E partners such as DHL, Julius Baer and Michelin.
AVAILABLE SPACE: Images of the team's new car during the recently concluded preseason tests at Donington Park do not confirm Penske's positive outlook on sponsorships, as only Faraday Future and Mouser Electronics are featured on the cars, along with official Formula E partners such as DHL, Julius Baer and Michelin.
With the new season less than a month away, Penske is paying homage to his father, U.S. motorsports veteran Roger Penske, with his team's new racecars. "I have named our Season 3 car and first electrical powertrain the ‘Penske EV-1,' in honor of my father's first entry into Formula 1 with his first designed and built car, the ‘Penske PC-1,'" he said. HJ Mai/Sportsbusinessdaily.com