For the third time in as many years, the ERT Formula E Team will run under a different name following a recent takeover.
The team started life as China Racing in the inaugural Formula E season in 2014/15 and led Nelson Piquet Jr to glory as he became the series’ first champion.
Since then, the team have fallen on hard times. Rebranding as Nio in 2016/17, they have not won a race since Piquet Jr in Moscow in 2015 and haven’t finished on the podium since Oliver Turvey finished second in Mexico in 2018.
In Season 10, where the team rebranded again as ERT, they finished rock bottom of the standings with just 23 points. At the year concluded, it was clear the Chinese outfit needed to find extra investment to keep their operation running.
Dan Ticktum potentially played a key role in the Kiro Race Co takeover
It was previously reported that ERT were set for another rebranding as rumours suggested that they would move away from being a factory team to becoming a Porsche customer team.
On Tuesday, it was confirmed that the team had be acquired by Los Angeles-based asset management company Forest Road Company and will run under an American license with the name Kiro Race Co – Kiro meaning ‘bright light’ in multiple languages.
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According to a report from The Race, the capital for the takeover has been provided by Ares Management co-founders David Kaplan and Bennett Rosenthal. The team will run Porsche powertrains, but will have a ‘separately designed car’ to that of the factory Porsche team and the customer Andretti outfit.
It has been widely expected that ERT drivers Dan Ticktum and Sergio Sette Camara will be retained by the team following the takeover. It has now been reported that Kiro ‘will run Ticktum’ for the 2024/25 season and Camara is also likely to keep to his seat.
In fact, according to The Race, Ticktum may have played a significant role in landing the takeover, as ‘initial connection between members of the ERT team and the Forest Road Company/Ares’ was made by the Brit earlier this year.
Meetings had taken place at the Portland ePrix back in June, before a deal was eventually struck last month after a lengthy period of negotiations.
How has Dan Ticktum got on in Formula E thus far?
The 2024/25 season will be Ticktum’s fourth year in FE if he is to sign with Kiro Race Co, having spent the previous three years with the team.
In his debut year in 2021/22, Ticktum struggled to make a mark as he scored a solitary point at the second race in Rome.
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The 25-year-old enjoyed a much better year in Season Nine, scoring points seven times – racking up 28 in total – and achieving a best finish of sixth in Cape Town and Monaco to finish 17th in the standings.
Last year, Ticktum could only manage points once all year, but it would be his best result to date as he finished fourth at Misano. While this was his only points finish compared to teammate Camara’s three, the Brit still managed to outscore the Brazilian by one point.
It seems the new owners are keen to have some continuity in the team and keep faith in Ticktum and Camara. Only time will tell if they can perform with the Porsche powertrains and another new name.