New Formula E squad names motorsport veteran as team principal

Fortescue Zero has named Jim Wright as team principal of its newly established Fortescue Zero Racing outfit, which is targeting a place on the grid for the 2026/27 Formula E season

Wright arrives with decades of experience across Formula 1, Formula E and other international series. 

He has held senior roles at Williams, Toro Rosso, Virgin Racing, Mahindra Racing, Venturi Formula E and Andretti Global, and also spent 10 seasons steering the Formula E Teams & Manufacturers Association. (FETAMA).

Fortescue Zero Racing is set to become the first Australian-owned outfit to compete in Formula E, subject to approval from the FIA and FEO. 

The squad has been built through Fortescue's acquisition of Penske's operations, and will run a Jaguar Gen4 powertrain as a customer team.

Why Fortescue Zero chose Jim Wright as first team principal

Despite his vast motorsport experience, Wright has never held a team principal role, marking a first for the veteran.

Nevertheless, it is a challenge he is excited for and believes he is joining Fortescue at a "significant moment"

"I am excited to join Fortescue Zero at a significant moment in the company's motorsport and technology journey," said Wright. "Fortescue Zero has a clear ambition to compete at the highest level, while also using motorsport to accelerate real-world technology.

"Formula E is one of the most competitive and technically demanding championships in the world. Building a new team for the next generation of Formula E is a major challenge and exactly the kind of opportunity that motivates me."

The appointment marks a key step in Fortescue Zero's build-up towards its planned Formula E debut, as the organisation continues to shape the leadership structure and technical foundations of its new racing operation. 

With the acquisition of Penske's former assets already in progress, bringing in a figure of Wright's experience is seen as central to ensuring the team is competitive from the outset, both on the commercial and sporting sides of the championship.

Fortescue Zero electromobility chief technology officer Travis Hester praised the new signing's breadth of experience across the paddock.

"Jim brings an extraordinary depth of experience across the commercial, sporting and operational sides of motorsport," Hester said.

"He understands Formula E from every angle and knows what it takes to build a competitive team in one of the world's most demanding racing series."