Australian mining billionaire Andrew Forrest has declared that Formula One should be consigned to a museum, using the launch of his new Formula E outfit to challenge the sport to a direct contest against electric racing.
According to CNA, the Fortescue founder and executive chairman made the remarks in London on Friday as he unveiled Fortescue Zero Racing, the first Australian-owned team in the all-electric championship.
Forrest told reporters that Formula One still had a role, but suggested it should be housed in a grand limestone building as an exhibit. He argued that younger fans would gravitate towards the fastest, most technologically advanced and most environmentally friendly form of racing, which he said would be Formula E. "Formula One are fantastic but their time is ticking past them," he said.
He went further during the stage presentation, calling for cars from the two series to race against each other. Forrest said he was unconcerned about whether his side finished first or second, insisting that Formula E had achieved in months and years what had taken Formula One decades.
Formula E claims its new Gen4 car, due for the 2026/27 season, will reach 100kph in around 1.8 seconds and 200kph in 4.2 seconds, which it says is roughly 30 per cent quicker than a Formula One car. The series has a much smaller global television audience than Formula One.
Fortescue Zero Racing was created after the purchase of Penske Autosport last September. Its Gen4 car will run a Jaguar powertrain, with British drivers Dan Ticktum and Taylor Barnard behind the wheel.
Despite his criticism, Forrest's team has strong Formula One ties. Fortescue bought Williams Advanced Engineering in 2022 and previously supplied battery technology to Formula E. Former Williams marketing head Jim Wright is team principal, while Claire Williams serves as an ambassador. Forrest also described the late Frank Williams as a mentor, and the FW initials feature on the new car.
Wright and Claire Williams also paid tribute to Alan Jones, the 1980 world champion with Williams, who died on Thursday.
CNA noted that Formula One cars now run on fully sustainable fuel, and that the sport last year recorded a 35 per cent cut in its carbon footprint against a 2018 baseline. Formula One says it remains on course to reach net-zero carbon by 2030.