Nissan has been racing in Formula E as a partner of the dams team since they made a debut at the circuit back in 2018, but now the Japanese automaker has just announced that they are no longer just a partner as they just acquired the racing team and they have become the full owner.

Formula E supplies competitors with the same chassis, and it’s up to manufacturers to equip it with their powertrain for their debut vehicle. Back in 2018, Nissan took cues from the Leafs, increased battery range in power, and they planned to continue transferring knowledge and technology between their Formula E and consumer cars going forward. So that means that if they discover a breakthrough technology for electric vehicles while working on a formula E car, they are going to be applying what they learned into their consumer vehicle models, which will benefit them.

Also, because in 2021 the company announced that they were investing $17.6 billion in the development of new electric vehicles and battery technology over the next five years and their goal being to develop 23 electrified models by 2030 and to have a fleet that’s 40 percent electrified in the US and China, this move seems like a great one from the company.