Perez to enter new championship with his own racing team

Sergio Perez is set to become the owner of a racing team. He will not be racing in motorsport, but in a completely different discipline: The Red Bull Racing driver's team will compete under the name Team Mexico in the UIM E1 World Championship, which is described as the world's first all-electric race boat championship.

Perez has one of the 12 available concessions to run a Mexican team in the E1 series, the brainchild of Formula E and Extreme E co-founder Alejandro Agag and former McLaren Applied CEO Rodi Basso. Perez and Agag met in the GP2 series, where the Mexican raced for Agag's Barwa Addax team. In 2010 Perez finished second in the GP2 championship on behalf of that team, after which he progressed to Formula 1.

In the UIM E1 Championship, competitors will compete in RaceBird, an all-electric boat that uses advanced hydrofoil technology to lift the boat above the water's surface. This ensures that only part of the boat remains in contact with the water, meaning that the boat will race with efficient drag reduction.

It is intended that the championship will be run with identical boats for at least the first two seasons, after which the regulations will be opened up to allow teams to design and develop their own electric technology. In 2023, teams will compete for the UIM E1 title for the first time and Perez's team will make its debut in the class.