<p>Mahindra Racing will enter the new Formula E electric racing series next year with ex-Formula One racer Karun Chandhok set to drive for what will be the only Indian team on the grid.<br /><br /></p>.<p>The $16.2 billion Mumbai-based Mahindra Group said on Thursday it had signed an agreement with Formula E Holdings to join the series starting in China in September, with races in 10 leading cities including Berlin.<br /><br />Mahindra are the eighth team to be announced so far.<br /><br />"We strongly believe that Formula E can provide an excellent global showcase for our electric vehicle technology," group chairman and managing director Anand Mahindra said in a statement.<br /><br />The group, which manufactures Mahindra Reva electric vehicles, said joining Formula E was a "natural step".<br /><br />Chandhok, who raced in Formula One with now-defunct Hispania (HRT) and Team Lotus and has also competed at Le Mans, said he was in advanced talks with Mahindra to drive for them.<br /><br />"The first priority was to get the team launched," he said. "Formula E is a very interesting new concept so we'll see if we can close something out in the weeks to come.<br /><br />"It would be nice to have an Indian driver in the only Indian team on the grid," added Chandhok.<br /><br />Mahindra Racing is no stranger to motorsports, having joined MotoGP in 2011.<br /><br />"We are very proud to have a major global company like Mahindra join the FIA Formula E Championship," Formula E Holdings chief executive Alejandro Agag was quoted as saying in the statement on Thursday.</p>
<p>Mahindra Racing will enter the new Formula E electric racing series next year with ex-Formula One racer Karun Chandhok set to drive for what will be the only Indian team on the grid.<br /><br /></p>.<p>The $16.2 billion Mumbai-based Mahindra Group said on Thursday it had signed an agreement with Formula E Holdings to join the series starting in China in September, with races in 10 leading cities including Berlin.<br /><br />Mahindra are the eighth team to be announced so far.<br /><br />"We strongly believe that Formula E can provide an excellent global showcase for our electric vehicle technology," group chairman and managing director Anand Mahindra said in a statement.<br /><br />The group, which manufactures Mahindra Reva electric vehicles, said joining Formula E was a "natural step".<br /><br />Chandhok, who raced in Formula One with now-defunct Hispania (HRT) and Team Lotus and has also competed at Le Mans, said he was in advanced talks with Mahindra to drive for them.<br /><br />"The first priority was to get the team launched," he said. "Formula E is a very interesting new concept so we'll see if we can close something out in the weeks to come.<br /><br />"It would be nice to have an Indian driver in the only Indian team on the grid," added Chandhok.<br /><br />Mahindra Racing is no stranger to motorsports, having joined MotoGP in 2011.<br /><br />"We are very proud to have a major global company like Mahindra join the FIA Formula E Championship," Formula E Holdings chief executive Alejandro Agag was quoted as saying in the statement on Thursday.</p>