Forest Road completed the acquisition of Kiro Race.

Forest Road, an investment firm, completed the acquisition of Kiro Race, a motor racing team. Financial terms were not disclosed. "This is truly a historic moment for our team. Bringing a US-based asset management group like Forest Road into Formula E is a testament to the series' growth and our team's potential. Their investment allows us to build with confidence for the future and compete at the highest level. We are excited to work with them and Porsche Motorsport to achieve our goals," Alex Hui, Kiro Race Team Principal.