The German brand is the latest manufacturer to call time on the all-electric race series.
The all-electric FIA Formula E Championship has been dealt another blow with confirmation that BMW will withdraw from the series at the end of the current season.
The German manufacturer issued a short statement outlining its decision to leave the electric race series was based on its belief it had “exhausted the opportunities” for technological development.
“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,” read the statement.
“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 joins Audi in departing the series, which is now in its seventh season. Audi confirmed earlier this week it would depart at the end of the 2020/21 season and switch its motorsport focus to the World Endurance Championship and a Dakar rally campaign.
Ironically, BMW topped Formula E pre-season testing in Valencia, Spain this week, with BMW Andretti driver, Maximilian Guenther, topping the time sheets on the final day.
The 2020/21 Formula E season gets underway in Chile in January.