The NIO name will be dropped from the Formula E team’s name and the squad will commence racing under the ERT Formula E Team name in 2024 after securing new investors.
The Formula E team formerly known as NIO will be operating as Electric Racing Technology beginning with the next season following the manufacturer’s exit from the all-electric series.
ERT will continue operating as a stand-alone drivetrain manufacturer. The NIO team was the only team to employ its own equipment last season, and it came last in the constructors’ championship.
Dan Ticktum and Sergio Sette Camara collectively scored 42 points for NIO 333 in the first season under the Gen3 era marking the team’s highest total since the 2017–18 season. NIO 333 finished ninth out of 11 teams in the 2023 teams rankings.
The Lisheng Sports and Gusto Engineering companies purchased the team in September 2019, and it changed its name to NIO 333 for the 2019–20 season. The UK-based Brilliant in Excellence (BIE) holding firm oversaw the NIO 333 operation.
The team moved from its original headquarters in Oxford to one at Silverstone last year. Sette Camara’s fifth-place performance in Hyderabad was the team’s highest finish since Oliver Turvey finished in the same spot at the 2018 Berlin E-Prix.
The team will start a new chapter with big goals and vast plans to extend its electrification expertise to new markets, according to a statement announcing its rebranding.
As a manufacturer in Formula E, ERT wants to strengthen its engineering capabilities and will eventually look to supply more teams. It is unknown if that will be for the 2025 season, when the second iteration of the Gen3 regulation takes effect.
“Proud to unveil our new identity as the ERT Formula E Team, it is an exciting step in our journey,” team principal Alex Hui said.
“As the only manufacturer Formula E team that is not currently tied to an OEM [manufacturer], our powertrain and software development has been done independently, putting us in a unique position.
“Utilising what we have learned on track, we have already identified that we have a lot to offer in terms of improving electric vehicle performance, not just in relation to powertrains but whole vehicle engineering support and solutions, something which is already proving of interest within the automotive and motorsport industries.
“It is a natural progression for us to move forward commercialising this knowledge with the increasing global adoption of EVs, particularly as Formula E provides such a strong platform for OEMs and as such our conversations with partners in this arena are already advanced.”
For its Gen3 technological package, the ERT team now works with a number of outside vendors, including Xtrac gearboxes and the specialized EV engineering company Integral Powertrain.
NIO, which formerly owned the team, will not be involved in the Formula E operations in 2024. Initially, NIO controlled the team through the authority of the late Dr. Martin Leach via the NEXTEV brand, followed by full NIO designation from 2017 to date.