Fortescue Zero has appointed Jim Wright as Team Principal of Fortescue Zero Racing, the organisation it plans to enter in the 2026/27 ABB FIA Formula E World Championship.
Fortescue says the entry remains subject to approval by the FIA and Formula E Operations. The appointment follows its acquisition of the Penske Formula E operation, which established the team platform that is being developed under the Fortescue Zero name.
Leadership for a new team identity
Wright is due to lead the sporting and commercial development of the operation as it moves from the Penske identity to Fortescue Zero Racing. The company has not published a start date, contract length, reporting line or financial terms for the appointment.
Fortescue says Wright has held senior roles with Williams Formula 1, Toro Rosso, Virgin Racing, Mahindra, Venturi and Andretti. It also points to his work leading the Formula E Teams and Manufacturers Association during the championship's first ten seasons.
That background gives the incoming team principal experience across team management, commercial programmes and the governance environment surrounding Formula E. It does not, by itself, confirm the new operation's final entry approval or competitive structure.
Building the GEN4 programme
The team intends to begin racing in Formula E's GEN4 era and has announced plans to use a Jaguar powertrain. Wright's appointment adds a named operational leader to a programme that already has an acquired race-team base and a defined technology direction.
The move is separate from the acquisition itself. The transaction transferred the Penske operation to Fortescue, while this announcement identifies the executive responsible for leading the racing organisation as it prepares for the next regulatory cycle.
Fortescue has described the team as both a racing and innovation programme, connecting competition with the wider company's electrification work. The public announcements do not specify how engineering personnel, intellectual property or development work will be divided between the race team and Fortescue Zero's other activities.
No operating budget, staff target, facility plan, sponsor roster or performance objective was disclosed. The confirmed business development is therefore Wright's appointment and the continuing formation of the Formula E team, with participation still dependent on the relevant approvals.