NIO 333 has become the latest manufacturer to commit to Formula E’s Gen3 era.

The world championship’s Gen3 era will begin in the upcoming 2022-23 season and cover seasons 9 through 11 with the introduction of a new more powerful, lighter car that will bring faster charging and cost controls.

NIO is now the fifth manufacturer to have publicly signed up the Gen3 registration, following Mahindra, DS Automobiles, Nissan and Porsche, while Jaguar is expected to confirm its commitment soon.

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“We have experienced the development of Formula E since its inception and now, as it blossoms into an FIA World Championship, we welcome the evolution in to its third generation,” said NIO 333 CEO Vincent Wang.

“We joined many meetings with the FIA and Formula E regarding the Gen3 technical roadmap when we joined the Formula E family as 333 Racing last year.

“We are delighted to join the list of manufacturers that will continue in the series and we expect to see further change as Formula E develops; metabolism is the objective law of development.

“Formula E is still the best new-energy racing series featuring sustainable development, worldwide influence and is at the forefront of electric mobility technology innovation - we at NIO 333 Formula E Team are extremely proud to continue to be part of it.”

Formula E CEO Jamie Reigle added: “333 Racing Team confirming their intention to compete in the Gen3 era is fantastic news and further evidence of Formula E’s unique position as a global sport, technology proving ground and marketing platform.

“The team has made a strategic decision to build their own powertrain and control their competitive destiny. We look forward to working with the NIO 333 Formula E Team to develop the next phase of the ABB FIA Formula E World Championship.

“As a Chinese owned and operated team, 333 Racing will further our ambition of accelerating a shift to electric mobility in China and beyond.”

NIO joined Formula E for the 2016-17 season, having previously run as the NEXTEV TCR team for the all-electric series’ opening two campaigns.

Nelson Piquet Jr won the inaugural Formula E drivers’ title in 2014-2015 driving for the British-based, Chinese-owned squad.

Since rebranding to NIO, the team has finished no higher than ninth in the championship. It came 12th last season having failed to score a single point.

It has already made a much stronger start to season seven, with Oliver Turvey and Tom Blomquvist scoring a combined total of 14 points across the opening four rounds in Diriyah and Rome.