Formula E Adds Jay Penske's Dragon Racing to Team Lineup

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Just the Facts:
  • Jay Penske's Dragon Racing is the fourth team to commit to the Formula E electric-car racing series.
  • Penske is the son of Roger Penske, a 15-time Indy 500 winner as a car owner.
  • Linking the Penske name to the new electric-car racing series is seen as a major breakthrough for Formula E.

LOS ANGELES — Dragon Racing, the IndyCar team owned by the son of 15-time Indianapolis 500-winning team owner Roger Penske, is the fourth team to sign on with the Formula E electric-car racing series scheduled to launch next year.

Linking the Penske name to the new electric-car racing series is seen as a major breakthrough for Formula E.

Jay Penske's team joins Andretti Autosport, another IndyCar competitor, in the Formula E ranks. Drayson Racing of England and China Racing are the other two teams that have committed to field a pair of cars in the new series.

"It's an honor for Dragon Racing to have been selected as one of the founding teams in Formula E," Penske said. "Formula E symbolizes a vision for the future of motorsports and the automotive industry, while directly appealing to a new generation of global race fans."

Formula E organizers seem pleased, as well.

"We're extremely happy to welcome Dragon Racing to the FIA Formula E Championship and are convinced that Jay Penske and the team will be a major contribution to our grid," said Formula E CEO Alejandro Agag. "Today's announcement also brings an LA-based team to the championship. That has special significance as California has become the land of electric cars, an example that we want to spread to the rest of the world."

Dragon Racing was formed as Luczo Dragon Racing by Penske and computer software entrepreneur Stephen J. Luczo and competed in the Indy 500 for the first time in 2007.

Luczo Dragon merged in 2010 with the team of Gil de Ferran, who won the Indy 500 for Roger Penske's team in 2003, and became known as de Ferran Dragon Racing. The team shut down in 2011 when it was unable to obtain sponsorship, but Penske revived the team in 2013.

Edmunds says: Another feather in the cap of Agag and the Formula E group, as the revolutionary start-up series continues to gain momentum toward an opening scheduled in the fall of 2014.

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