BMW has announced that it is ready to pull out of Formula E racing at the end of the seventh season.
Announcing that the company has “essentially exhausted” its opportunities of tech transfer, BMW has said the strategic focus is shifting greatly towards global production of EVs.
BMW entered Formula E back in 2018 and has since claimed a number of wins and podiums. The company has been using Formula E as a “tech lab” for the development and transfer of technology from racing to mass production. They now claim that tech transfer has all but reached its limits.
“The same engineers who develop the drivetrains for electric production vehicles are also responsible for the drivetrains in the race cars. Examples of the successful transfer of technology between the Formula E project and production development include new findings regarding energy management and energy efficiency, the transfer of software for power electronics from racing to production, and an improvement in the power density of the e-motors,” it said in a statement.
BMW is the second manufacturer to announce its exit from Formula E racing. Audi has also confirmed that they want to focus on the upcoming Dakar Rally entry leaving Mahindra Racing as the only team that is committed to the Gen3 era.
According to BMW’s plans, the company plans to have at least one million electric vehicles on the streets by the end of 2021. The company has, however, stated that full factory backing will be given to BMW i Andretti Motorsport team for the 2021 Formula E season.
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