Kiro Race Co
A British-based, American-owned Formula E team that previously competed under the Nio 333 name.
Last updated August 31, 2026
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Overview
Kiro Race Co is a professional electric-motorsport team competing in the FIA Formula E World Championship. The organization traces its competitive identity to China Racing, which announced its participation in Formula E in March 2013, making it one of the earliest teams to commit to the championship. It entered Formula E's inaugural 2014–15 season and achieved immediate prominence when Nelson Piquet Jr. won the first Formula E Drivers' Championship for the team. Although the organization has remained a regular championship entrant since Formula E's first season, its ownership, operating structure, commercial identity, technical arrangements, and team name have changed repeatedly. The team initially raced as China Racing before adopting the NEXTEV TCR identity during the 2015 season. NEXTEV developed its own powertrain for the second Formula E season and later acquired the remaining interest in the operation that had been associated with Team China Racing. For 2016–17, the team was branded NEXTEV Nio, reflecting the growing role of the Nio electric-vehicle company and the gradual replacement of the NextEV identity. From 2017–18 it competed as the Nio Formula E Team, retaining Oliver Turvey as a central driver while using a Nio-branded powertrain. Performance declined after the inaugural championship success. The team finished ninth in the 2015–16 Teams' Championship, sixth in 2016–17, eighth in 2017–18, and last in 2018–19. Its best result in the 2017–18 season was Turvey's second place in Mexico City, but the team scored only seven points during the following campaign. A change in ownership and management followed, with Lisheng Sports and Gusto Engineering taking responsibility for the operation. The 2019–20 entry list identified the team as Nio 333 Formula E Team. It no longer developed its own contemporary powertrain and instead used a powertrain acquired from GEOX Dragon, while retaining manufacturer status through FIA homologation arrangements. The Nio 333 period included several driver changes and a rebuilding phase. Oliver Turvey remained with the team through 2021–22, partnering with Ma Qinghua, Tom Blomqvist, and later Dan Ticktum in different seasons. Travel restrictions during the 2019–20 season prevented Ma Qinghua from taking part in the Berlin finale, where Daniel Abt substituted for him. The team gradually returned to regular points-scoring, including double points finishes at the Diriyah and Rome events during the 2020–21 campaign. Sérgio Sette Câmara replaced Turvey for 2022–23 alongside Ticktum. Ahead of the 2023–24 season, the team dropped the Nio identity and rebranded as ERT Formula E Team. It was subsequently acquired by The Forest Road Company, a Los Angeles-based investment firm, and rebranded as Kiro Race Co for the 2024–25 season. The operation moved to an American competition license and became a Porsche customer team, using the manufacturer's previous-generation powertrain rather than developing its own. A commercial partnership with Cupra led to the race entry being presented as Cupra Kiro. Kiro's core business is participation in the FIA Formula E championship rather than the sale of consumer products. Its activities include race-team operations, driver development, vehicle preparation, engineering, technical partnerships, sponsorship activation, hospitality, and brand marketing. The team's modern identity is therefore built around electric racing technology, international motorsport exposure, and partnerships with automotive and investment organizations. Dan Ticktum and David Beckmann formed the initial 2024–25 lineup, with Ticktum later delivering the team's first Formula E victory since 2015 at the 2025 Jakarta ePrix. The organization continues to operate as an active Formula E entrant under the Kiro/Cupra Kiro identity.
History
The organization now known as Kiro Race Co began as China Racing, which announced its Formula E project in March 2013. It was among the earliest teams to commit to the championship and entered the inaugural 2014–15 season with Nelson Piquet Jr. and Ho-Pin Tung. The team used several substitute or additional drivers in the second car during the season, while Piquet completed the full campaign. He won the championship in the final race in London, making the organization the first Formula E Drivers' Championship-winning team. During 2015 the China Racing name was replaced by NEXTEV TCR. The team also moved from the standardized powertrain used in Formula E's first season toward an internally developed system for the second campaign. NEXTEV acquired the remaining interest associated with Team China Racing in 2016, consolidating control of the entry. Piquet and Oliver Turvey were retained for 2015–16, but the season was difficult: the team scored 19 points and finished ninth in the Teams' Championship. For 2016–17 the team became NEXTEV Nio and established a more independent operational and engineering structure under Gerry Hughes. Piquet and Turvey remained the drivers. The team improved to sixth in the Teams' Championship and recorded pole positions in Hong Kong and Mexico City, but it did not become a title contender. Piquet departed after the season under a performance-related clause and joined Jaguar. Luca Filippi replaced him for 2017–18, with Turvey continuing and Ma Qinghua serving as a reserve and substitute driver. The organization increasingly used the Nio name, while the NextEV designation remained associated with the powertrain. Turvey's second place in Mexico City was the team's strongest result that season, but it finished eighth overall. Tom Dillmann joined Turvey for 2018–19. The team scored only seven points, all through Turvey, and ended the campaign last among the eleven entrants. A restructuring followed before 2019–20. Lisheng Sports and Gusto Engineering became associated with the ownership and management of the operation, which was entered as Nio 333 Formula E Team. Rather than continuing with a newly developed powertrain, the team acquired the previous season's unit from GEOX Dragon. Nio nevertheless retained manufacturer status through the relevant FIA homologation arrangement. Ma Qinghua became Turvey's teammate, but Daniel Abt substituted for him at the Berlin event after travel restrictions affected Ma's availability. Tom Blomqvist partnered Turvey in 2020–21, with Adam Carroll later announced as reserve driver. The team began scoring more consistently, including points finishes for Turvey at both Diriyah races and for Blomqvist at the Rome double-header. For 2021–22, Turvey stayed while Dan Ticktum joined the team. Turvey and Ticktum both scored at the second Rome race, giving Ticktum his first Formula E points. Turvey left before 2022–23 to become a reserve driver with DS Penske, and Sérgio Sette Câmara took his seat alongside Ticktum. The team dropped the Nio name before the 2023–24 season and competed as ERT Formula E Team. It was later acquired by The Forest Road Company, an American investment firm based in Los Angeles. For 2024–25, the team became Kiro Race Co, raced under an American license, and adopted a Porsche customer powertrain based on the previous season's specification. A partnership with Cupra produced the Cupra Kiro entry identity. Ticktum was paired with David Beckmann, while Bianca Bustamante joined as a development driver and participated in the rookie test. Ticktum won the 2025 Jakarta ePrix, giving the team its first Formula E victory since 2015. The organization therefore entered its current era as a rebranded, customer-powertrain team whose principal activities are electric racing, engineering operations, driver development, and commercial partnerships.
- 2025
First win since 2015
[1]Dan Ticktum won the Jakarta ePrix for the newly branded team.
- 2024
Kiro Race Co launched
[1]The Forest Road Company acquired the organization and introduced the Kiro Race Co identity.
- 2023
ERT rebrand
[1]The team abandoned the Nio identity and entered as ERT Formula E Team.
- 2019
Nio 333 era begins
[1]Following an ownership and management change, the entry was listed as Nio 333 Formula E Team.
- 2016
NEXTEV acquires the full team
[1]NEXTEV acquired the remaining interest in the team associated with Team China Racing.
- 2015
First Formula E Drivers' Championship
[1]Nelson Piquet Jr. won the inaugural Formula E Drivers' Championship for the organization.
- 2013
Formula E participation announced
[1]China Racing announced its involvement in the new FIA Formula E championship.
Products and positioning
An international electric-motorsport team positioned around Formula E competition, technical partnerships, driver development, and automotive-brand visibility.
Motorsport services · 2014
Formula E race-team operations
The team's principal offering is the operation of a full FIA Formula E entry. This includes race engineering, vehicle preparation, data analysis, pit-wall strategy, logistics, driver support, event participation, and compliance with the championship's technical and sporting regulations.
Automotive engineering · 2015
Electric single-seater engineering
Across its history the organization has operated both manufacturer-style and customer-powertrain programs. Its technical work has included powertrain development, integration, setup optimization, energy management, simulation, and adaptation of supplied electric racing hardware.
Motorsport talent development · 2014
Driver development
The team supports race drivers, reserve drivers, substitutes, and development drivers. Its Formula E history includes established international competitors, junior-category graduates, rookie-test participants, and drivers assigned to simulator and reserve duties.
Marketing campaigns
- 2025Cupra Kiro partnership
Global
Kiro partnered with Cupra for its Formula E race-entry identity, combining Kiro's team operation with Cupra's automotive brand presence.
Outcome. The team competed under the Cupra Kiro name.
- 2015Inaugural Formula E championship campaign
Global
The team's first Formula E season culminated in Nelson Piquet Jr. winning the Drivers' Championship. The organization competed under the China Racing identity before transitioning to NEXTEV branding.
Outcome. Drivers' Championship victory; fourth in the Teams' Championship.
Brand decisions
2024
Acquisition by The Forest Road CompanyM&ABackground
The team entered a new ownership phase after operating under Lisheng Sports and Gusto Engineering.
Action taken
The Forest Road Company acquired the organization and relaunched it as Kiro Race Co.
Aftermath
The team competed under an American license and moved into a new commercial and technical partnership structure.
2023
Removal of the Nio identityStrategyBackground
The organization had competed under Nio-related names for several seasons.
Action taken
The team rebranded as ERT Formula E Team for the 2023–24 season.
Aftermath
The Nio name left the team's official competition identity.
2019
Adoption of a customer powertrainStrategyBackground
The team underwent a change in ownership and management before the 2019–20 season.
Action taken
Nio 333 acquired the previous season's powertrain from GEOX Dragon instead of continuing with its own current development program.
Aftermath
The team retained manufacturer status through FIA homologation but competed with a rebadged customer-derived system.
2015
Move toward an in-house powertrainStrategyBackground
The inaugural Formula E season used a standardized powertrain supplied to all teams.
Action taken
NEXTEV began developing and testing its own powertrain for the second season.
Aftermath
The team gained manufacturer-style technical independence but finished ninth in the 2015–16 Teams' Championship.
Recent events
- 2025
Kiro becomes a Porsche customer team and partners with Cupra[1]
M&A · Product generation · Other
The rebranded operation stopped developing its own powertrain, adopted an older Porsche customer unit, and entered as Cupra Kiro through a commercial partnership with Cupra.
- 2025
Dan Ticktum wins the Jakarta ePrix[1]
Other
Ticktum delivered Kiro's first Formula E victory since Nelson Piquet Jr.'s 2015 championship-era win.
- 2024
Kiro Race Co enters Formula E under new ownership[1]
M&A · Other
The Forest Road Company acquired the team, which adopted the Kiro Race Co name and an American competition license.
- 2023
Team rebrands as ERT Formula E Team[1]
Other
The Nio identity was removed ahead of the 2023–24 season and the team entered as ERT Formula E Team.
- 2020
Nio 333 substitutes Daniel Abt for Ma Qinghua[1]
Leadership change
Travel restrictions prevented Ma Qinghua from competing in the Berlin event, so Daniel Abt joined the team for the finale.
- 2019
Ownership changes and Nio 333 entry confirmed[1]
M&A · Leadership change
The operation came under the management of Lisheng Sports and Gusto Engineering and entered the championship as Nio 333 Formula E Team.
- 2015
Nelson Piquet Jr. wins the inaugural Formula E Drivers' Championship[1]
Other
Piquet secured the first Formula E Drivers' Championship in the final race of the inaugural season, giving the organization its first major international title.
- 2015
Team adopts the NEXTEV TCR identity[1]
Other
The China Racing branding was phased out during the season as the team introduced NEXTEV branding and entered the Monaco ePrix as NEXTEV TCR.
- 2015
Team develops an in-house Formula E powertrain[1]
Product generation
NEXTEV TCR began testing its own powertrain for the second Formula E season, moving beyond the standardized equipment used in the inaugural campaign.
- 2013
China Racing announces participation in Formula E[1]
Other
China Racing became the second project to announce its involvement in the planned Formula E championship.
Sources2 sources
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