BMW will leave Formula E at the end of the 2020-21 season, becoming the second manufacturer to announce its departure from the series this week. 

On the day after it topped the timesheets at the end of pre-season Valencia testing, the German manufacturer confirmed its intention to quit Formula E after the conclusion of its third season in the championship.

BMW entered the series as a full factory works effort in time for the beginning of Formula E’s second generation in 2018 and has twice finished fifth in the teams’ championship, winning a total of four races so far.

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On Wednesday BMW announced it will be withdrawing at the end of the upcoming campaign, which marks the seventh Formula E season.

“Our journey in Formula E is hitting the home stretch. After seven successful years, BMW Group will end its involvement in the series at the end of the coming season,” a team statement read.

“As a partner from the word go, BMW has been instrumental in the success story of Formula E. However, when it comes to the development of e-drivetrains, BMW Group has essentially exhausted the opportunities for this form of technology transfer in the competitive environment of Formula E.

“As the strategic focus of BMW Group is shifting within the field of e-mobility, we will now concentrate on a model offensive and series production in large quantities with the fifth generation BMW E-drives.”

BMW insisted that its goals remain unchanged for 2020-2021 despite its impending exit from the series.

“Even though we are leaving, our sporting ambitions remain unbroken. In Season 7, the BMW I Andretti Motorsport Team will give its all to achieve as much sporting success as possible with the BMW iFE.21 and drivers Maximilian Guenther and Jake Dennis,” its statement continued.

BMW’s announcement just days after Audi confirmed its own departure from Formula E on Sunday in favour of a return to sportscar racing and the Dakar Rally.