Mahindra Group has formed an electric racing division and signed an agreement with Formula E Holdings to become the eighth team to join the new FIA Formula E Championship.

Calling it “Mahindra Racing,” joining the new zero emission series was a natural step for the Mahindra Group, said the Mumbai-based company, as it already is a major global force in the development and production of electric vehicles through its Mahindra Reva Company.

“We strongly believe that Formula E can provide an excellent global showcase for our electric vehicle technology,” said Anand Mahindra, chairman and managing director of Mahindra Group. “With advanced operations and expertise in electronics , IT, automotive technologies and manufacturing, we are already seeing the fusion of this technology into our electric vehicle operations. Racing will further accelerate that trend while Formula E is set to raise awareness globally about the benefits of electric vehicles.”

Mahindra said it is no stranger to international motor sport, with Mahindra Racing already established within the two-wheeled world of the MotoGP World Championship.

Mahindra Racing Formula E Team will now be put forward to the FIA for final approval as the eighth team to enter the championship.

Mahindra Racing joins in the Formula E championship IndyCar outfits Andretti Autosport and Dragon Racing, Asia’s China Racing and Super Aguri and European squads Drayson Racing, e.dams and Audi Sport ABT.