Acquiring Company
Fortescue Zero
Acquired Company
Penske Autosport
East Perth
MichiganEnergyRenewable EnergyMiningTransportationAutomotiveLogisticsFleet ManagementDescription
Fortescue Zero has successfully acquired the assets of Penske Autosport in a significant move for Formula E's upcoming Gen4 era. This acquisition allows Fortescue Zero to establish its own entry in the racing series, utilizing Jaguar powertrains from Season 13 onwards. The deal presents a new opportunity for a company with a strong background in technical components to compete actively in motorsport.
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Based on deal dataFrequently asked
Who acquired Penske Autosport?
Penske Autosport was acquired by Fortescue Zero, based in East Perth. The deal was reported on September 19, 2026. Fortescue Zero is a subsidiary of Fortescue, a mining and energy company focused on achieving 'Real Zero' by 2030. The company has diversified into alternative energy, including solar farms and hydrogen manufacturing. Fortescue Zero is privately held and operates in Energy.
When did Fortescue Zero acquire Penske Autosport?
Fortescue Zero's acquisition of Penske Autosport was reported on September 19, 2026. Fortescue Zero has successfully acquired the assets of Penske Autosport in a significant move for Formula E's upcoming Gen4 era. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Penske Autosport do?
Penske Autosport was a team within Formula E that struggled to maintain its entry for the Gen4 era due to a lack of power supply. The team's assets were acquired by Fortescue Zero, allowing them to establish their own Formula E team. It is privately held, operating in Transportation, and is based in Michigan.
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