Hyundai could be the next major manufacturer to enter Formula E but it definitely won't be there at the start of the Gen4 era in 2026.
The Race revealed last month that Hyundai has had recent talks with McLaren about joining forces for a Formula E programme from 2028, the halfway mark of the Gen4 ruleset.
That suggestion has now been backed by Formula E CEO Jeff Dodds.
Hyundai currently has a world championship motorsport programme in the World Rally Championship and it is believed that will continue in that space for a number of years. It won its first drivers' title there with Thierry Neuville last season.
In addition to the WRC, Hyundai will also have a new project in endurance sportscar racing via its luxury brand Genesis in both the World Endurance Championship and the IMSA SportsCar Championship from 2026 onwards.
Dodds confirmed he's had talks with Hyundai and its motorsport chief Cyril Abiteboul about a Formula E programme.
"What is no secret is I've been over and met them and I met their board out in South Korea. Cyril and I have become good friends over the last year," Dodds told The Race.
"I think this kind of championship makes a lot of sense for a manufacturer like Hyundai and they are investing in motorsport.
"They're a very, very large manufacturer and they're interested in electrification and hybrid electrification.
"I think it makes a lot of sense. They're also very sensible about timing and wanting to be competitive if they enter motorsport.
"I would love to see them in our championship. I've told them that and I think they're genuinely interested in what this championship could be like.
"But I also think it's very unlikely they'll be on the grid for the start of Gen 4. That doesn't mean they won't be on a grid in Gen4 simply because of the timeframe. So, around registration for manufacturers. I think it's unlikely [for 2026]."
Dodds made clear that Formula E can offer manufacturers a degree of flexibility over when and how they commit to a programme - which would be attractive to Hyundai.
"No manufacturer is prevented from joining at any point in this championship," he said, alluding to the fact that joining halfway through a ruleset is achievable.
"The challenge is not can they or won't they join. It's when they join, can they be competitive quickly because of the investments required into the powertrain development and all that stuff that goes with it?
"I think they'd be an amazing manufacturer and we're having nice conversations."
McLaren's take
"I don't think that it's any secret that they have been looking at Formula E as an option," said McLaren Formula E team principal Ian James of Hyundai with a degree of understatement.
But what was a secret was the depth of interaction between his team and the mighty Korean manufacturer.
Now that is out in the open, is the next phase of McLaren's Formula E adventure clearer?
Not particularly. While a link-up between the two would make a lot of sense - the obvious power, cash and influence of Hyundai is attractive to McLaren, just as the operational strength and Formula E technical knowhow of McLaren is to Hyundai - it is still early days, especially in light of the revelation that Hyundai will not come on board for the start of the Gen4 era in 2026.
Switching manufacturers halfway through a ruleset would not be ideal for McLaren in its current set-up as a customer team, having run a Nissan package since it transitioned from the former Mercedes works squad to its present McLaren guise ahead of the 2023 Formula E season.
McLaren would have to commit to only two Gen4 seasons with an already registered manufacturer. Although that has been done, with Abt having gone from Mahindra to Lola-Yamaha during Gen3, it is not the way you would probably choose to structure your programme.
But it's not as big an upheaval as you might think and should Hyundai come on board as a straight manufacturer-registered entity it could use McLaren's knowledge well in advance of 2028, with engineering cells testing alongside Hyundai, just as Abt engineers did last summer with Lola.
James was reasonably transparent about McLaren's talks with Hyundai. Without sharing detailed knowledge he did offer opinion on what may motivate the manufacturer.
"I can understand if they decide that maybe a postponement of coming into Formula E would be the prudent route to take until they're absolutely sure that everything is settled," he said.
"But, I think, and my understanding is, that they, along with other manufacturers as well, do see this series and this format as something that fits overall very well with their portfolio.
"It wouldn’t surprise me if Hyundai or some of the other big manufacturers start to come to Formula E for the future.
"The challenge for the start of Gen4 is very tight. If you don't have a development programme starting now then you're on the back foot if you want to come in for that first season, but also to come in halfway through would also be absolutely viable."
Formula E needs a deal like this
It's not only McLaren that would obviously benefit from a Hyundai deal. There would be a lot of positives for Formula E overall.
And it needs them because Porsche was the last major car manufacturer to commit to the championship from a standing start in 2019.
That's a long time in international motorsport and although Lola and Maserati have come on board, the former is very much a relaunched brand after a fallow decade, while Maserati has the prestige but isn't an out-and-out technology provider as it runs as a pseudo factory team via MSG and off the back of Stellantis sister brand DS Automobiles and DS Performance.
New role for McLaren boss?
After The Race broke the news of Hyundai's possible entry with McLaren last month, James said he thought Hyundai and its leader Abiteboul were "pushing that the various brands that they have got are well presented for and they have the right opportunities".
James added: "My understanding is that they have recommitted to WRC, then obviously they've got the WEC programme with Genesis and having personally had a detailed look at what it takes to put a hypercar programme together that's no small challenge and it's quite a tall order."
That mention of knowledge of the demands of a hypercar interest is an interesting nod to James's position personally as he now holds a dual role in the McLaren group of companies.
In November he was confirmed as director of motorsport for McLaren Automotive where he will oversee all of its GT products and customer racing activities. The role is in addition to his ongoing team principal and managing director role at McLaren Electric Racing.
Will his career broaden out into heading up a much-rumoured McLaren LmdH project, which industry insiders are predicting could be confirmed in the first quarter of 2025? It's very feasible and would, in the grander scheme of things, be logical.
