Virgin Racing becomes ninth entrant for inaugural Formula E grid

Former Formula 1 entrant Virgin Racing threw its hat into the ring for the inaugural all-electric FIA Formula E season to be held from September 2014 to June 2015 today, becoming the ninth entrant on the ten-team grid.

The team, owned and backed by Virgin founder Richard Branson, signed a contract with championship promoter Formula E Holdings today.

Alex Tai - left in picture with Formula E Holdings CEO Alejandro Agag - will be Virgin Racing's team principal.

“The launch of the FIA Formula E Championship is exciting news for racing fans but also for those that believe in developing the great electric cars of the future,” said Branson. “The need to create fast, dependable and durable race cars will help to accelerate the sector and showcase electric cars to a large global audience. With races around many famous city centres, I am expecting a lot of spectators, plenty of fun and some sparks flying as the competition hots up.”

Virgin Racing joins IndyCar outfits Andretti Autosport and Dragon Racing, Asia’s China Racing, Super Aguri and Mahindra Racing, and European squads Drayson Racing, e.dams and Audi Sport ABT for the Formula E grid, which is now just one entrant away from completion.

Virgin Racing signed up to compete in the 2010 F1 championship along with Caterham F1 when a 40 million pounds-sterling budget cap was set to be enforced in an effort to encourage new entrants.

Virgin eventually sold its entry to the team that became Marussia F1 and ended its involvement.

The Formula E entry marks a return to motor sport for the Virgin brand, which has garnered publicity recently by developing a private consumer space flight service called Virgin Galactic along with its pre-existing businesses that includes airline Virgin Atlantic.