Team Aguri concludes Chinese takeover deal

The Team Aguri Formula E squad has confirmed that this weekend's London ePrix will be its final event, having now agreed the sale of its licence to private equity firm Chinese Media Capital.

Team Aguri concludes Chinese takeover deal
Ma Qing Hua, Team Aguri
Bruno Senna, Mahindra Racing and Ma Qing Hua, Team Aguri
Antonio Felix da Costa, Team Aguri
Ma Qing Hua, Team Aguri
Ma Qing Hua, Team Aguri
António Félix da Costa, BMW Team Schnitzer

Motorsport.com revealed in April that the Anglo-Japanese squad was in the process of being purchased by CMC, which would lead to the establishment of a new entity to replace the existing Team Aguri structure.

With the deal now completed, the new team is expected to run with customer Renault power in season three as part of a branding deal that will bring the French marque's sister firm Nissan into the series.

Current team principal Mark Preston, who co-founded the team with Aguri Suzuki in November 2013, is expected to play a role at the new set-up.

“I am proud to say that Team Aguri can be considered true pioneers in the development of electric vehicles, pioneering new technologies and showcasing them to the world," said Preston.

“While this is the final chapter in Team Aguri’s history in the FIA Formula E Championship, this also represents the start of something new, with the sale of the team to new investors.

"As such, this will be the final race for Team Aguri and I would like to thank all involved for their hard work and dedication over the past two seasons.”

Ma Qing Hua, who joined Aguri in time for the Paris ePrix this season, is expected to stay on at the newly formed CMC-owned operation for season three, but the identity of his teammate is unknown.

Team Aguri's other season two driver, Antonio Felix da Costa, is set to join the Andretti squad as part of a tie-up with BMW, where he is expected to partner Robin Frijns.

shares
comments
Formula E, Supercars added to F1 Superlicence points system

Previous article

Formula E, Supercars added to F1 Superlicence points system

Next article

Electric technology on verge of new era – Jaguar chief

Electric technology on verge of new era – Jaguar chief
Load comments
The half-term report cards of each Formula E team in 2020-21 Prime

The half-term report cards of each Formula E team in 2020-21

In an eventful Formula E season, punctuated by rain and energy-conservation controversy, the 12 teams contesting the championship have endured many challenges in the opening seven races. Here's how they've got on across the first half of the season.

Formula E
May 26, 2021
How Formula E stood up to F1 comparisons in Monaco Prime

How Formula E stood up to F1 comparisons in Monaco

OPINION: It was no surprise to anybody that the laptimes achieved by Formula E cars on the full Monaco circuit were much slower than Formula 1. But perhaps the more relevant comparison was in the racing spectacle, where FE delivered in spades.

Formula E
May 12, 2021
How Monaco dealt Formula E a winning hand to cure its hangover Prime

How Monaco dealt Formula E a winning hand to cure its hangover

Formula E faced much criticism in the wake of its maligned Valencia event. In need of a turnaround, the series' first use of Monaco's iconic Formula 1 layout provided it with the injection of thrills required to clear the fog that had enveloped the paddock.

Formula E
May 11, 2021
Why Formula E's Valencia fiasco undermines engineering talent Prime

Why Formula E's Valencia fiasco undermines engineering talent

FIA president Jean Todt wanted more Formula E coverage in the media, and got his wish when the opening Valencia E-Prix proved farcical. Despite attempts to spin the race as teams failing to get their sums right, Formula E and its governing body cannot escape blame - especially when trying to get teams to commit long-term.

Formula E
Apr 27, 2021
How Valencia E-Prix farce gave Formula E an image problem Prime

How Valencia E-Prix farce gave Formula E an image problem

Formula E was under the microscope at Valencia, on its first visit to a permanent circuit. But after a mere nine drivers were left classified following Saturday's Valencia E-Prix, the electric championship once more faced criticism after rising energy deductions and miscalculations produced a farcical affair.

Formula E
Apr 25, 2021
How Vergne and Vandoorne found redemption in Rome Prime

How Vergne and Vandoorne found redemption in Rome

Another Formula E double-header, another double dose of frantic action. While the form guide remains unpredictable following fightback wins for Jean-Eric Vergne and Stoffel Vandoorne in Rome, the speed and consistency of Mercedes – both on and off the track – could have its rivals worried for what is to follow

Formula E
Apr 12, 2021
What Nissan's commitment to Gen3 reveals about Formula E's future Prime

What Nissan's commitment to Gen3 reveals about Formula E's future

Formula E's Gen3 era grid continues to take shape, after Nissan opted to commit to the series for another four years. Nissan's global chief operating officer explains why it has thrown its lot in with FE while other high-profile marques have decided to call it quits.

Formula E
Mar 24, 2021
Why the new Formula E season got off to such a controversial start Prime

Why the new Formula E season got off to such a controversial start

With the new Formula E season belatedly getting underway in Saudi Arabia, the championship appeared to try to make up for lost time with an overspill of action and controversy on and off the track. While some talking points could have serious repercussions, it was an explosive opener for many reasons.

Formula E
Mar 1, 2021