McLaren has confirmed it will join the Formula E grid from the 2022/23 season alongside the introduction of the Gen3 car.
McLaren has long been considering an entry into the all-electric single-seater championship and for season nine will finally add the competition to its racing portfolio alongside F1, IndyCar, Extreme E and esports.
Rather than starting completely fresh, however, the team will be formed through the acquisition of the existing Mercedes-EQ Formula E Team.
This deal is expected to be completed later this year with team principal Ian James set to continue in his role although whether drivers Nyck de Vries will remain is still unknown.
Stoffel Vandoorne is set to move to the Dragon Racing Team.
Mercedes won the constructors' championship last season with de Vries taking the drivers' crown. Vandoorne leads the standings ahead of this weekend's Berlin E-Prix.
“McLaren Racing always seeks to compete against the best and on the leading edge of technology, providing our fans, partners and people with new ways to be excited, entertained and inspired," said McLaren Racing CEO Zak Brown.
"Formula E, like all our racing series, fulfils all those criteria.
“As with all forms of the sport we participate in, Formula E has racing at the centre but will be strategically, commercially and technically additive to McLaren Racing overall.
"It is also satisfying to provide a home for the class-leading Formula E team that Mercedes has built, which will become a fully-fledged part of the McLaren Racing family.
"While run separately to our F1 and IndyCar teams, Formula E complements and builds out our EV racing programme alongside Extreme E.
“I firmly believe that Formula E will give McLaren Racing a competitive advantage through greater understanding of EV racing, while providing a point of difference to our fans, partners and people, and continuing to drive us along our sustainability pathway."
Mercedes "instrumental" in McLaren deal
Mercedes only joined the Formula E grid ahead of the 2019/20 season but is the latest in a number of automotive manufacturers to leave the championship.
Reflecting on his relationship with the manufacturer, team principal James added: "Mercedes-Benz have been the main enablers for this team so far and when we started this journey, we could only have hoped for the results we’ve achieved to date.
"The company’s clear objectives and technological expertise accelerated our ambitions, and I would like to thank them for being the most supportive owner by helping us to do what we do best: racing.
"Now, once again, they have been instrumental in securing the right partner to continue our Formula E journey.
“Becoming part of the McLaren Racing family is a privilege: McLaren has always been synonymous with success and high-performance. This is a great moment for all parties involved but, above all, for the people that make up this team. They are what keeps its heart beating. Being able to continue working with them is what I am most excited about.
“I'm very much looking forward for this next chapter for the team and will be a proud member of it in Season 9. Until then, we will be focused on delivering the best results possible as the Mercedes-EQ Formula E Team, for the remainder of the current season.”