Development of the Gen3 was confirmed in July 2020, with Spark Racing Technology selected to build the chassis and supply front axles, Williams Advanced Engineering named as battery supplier, and Hankook appointed as tyre supplier — incorporating bio-material and sustainable rubber into the compound. The car was designed to push significantly beyond the Gen2's performance envelope in both power output and regenerative capability.
The Gen3 has a wheelbase of 2,970 mm and a total minimum weight of 840 kg including the driver allocation (760 kg without driver), making it lighter than its predecessor.
The rear axle uses a manufacturer-developed electric motor limited to 350 kW (469 hp) in qualifying and during Attack Mode, and 300 kW (402 hp) in race mode. The front axle carries a standardised Front Powertrain Kit (FPK) supplied exclusively by Lucid Motors, rated at 350 kW and used solely for regenerative braking. The combined regenerative braking capability is 600 kW: 250 kW from the front FPK and 350 kW from the rear motor. This gives the car genuine all-wheel-drive energy recovery under braking, though initial race deployment used rear-driven acceleration only.
The Gen3 carries a 47 kWh liquid-cooled battery weighing 284 kg, with 38.5 kWh usable in race conditions. The battery was engineered to handle flash-charging at up to 600 kW — enabling pitstop recharging for the first time in Formula E history. However, persistent battery issues during testing meant the introduction of flash-charging was postponed from the car's debut season.
Hankook supplies all-weather 18-inch tyres incorporating bio-material and sustainable rubber, replacing Michelin which had been the exclusive tyre supplier since the series' inception.
The theoretical top speed is 322 km/h (200 mph), with a power-to-weight ratio roughly comparable to an Audi RS5 Turbo DTM car.
An upgraded variant of the Gen3, designated the Gen3 Evo, entered service for the 2024–25 season with several meaningful changes. The front wing was redesigned to reinstate an upper element and more covered front wheel — features of earlier generations — in the interests of reduced drag, better durability, and revised aesthetics. Hankook modified the tyres to provide 5–10% additional grip following driver feedback.
The most significant performance change in the Evo concerns Attack Mode: the extra 50 kW available during this mode is now delivered by the front FPK rather than the rear motor alone, enabling true all-wheel drive during qualifying, race starts, and Attack Mode activations. This was intended to address traction limitations that had blunted the effectiveness of the original Gen3's Attack Mode. The changes were projected to reduce lap times by 1–1.5 seconds per lap.
A further modified variant of the Gen3, the GENBETA, was developed for record attempts and promotional use. Featuring enhanced battery output, all-wheel drive, a softer Hankook iON Race tyre compound, and 3D-printed aerodynamic components, the GENBETA has been used to set two world records. During the 2023 London ePrix weekend, then-McLaren driver Jake Hughes drove the GENBETA to a Guinness World Record for the fastest speed achieved indoors, reaching 218.71 km/h inside London's ExCeL Centre. In January 2024, Reem Al Aboud set a new FIA single-seater acceleration record in the GENBETA, covering 0–100 km/h in 2.49 seconds, beating the previous benchmark of 2.6 seconds set by a Formula One car.
The Gen3 represents a step-change in Formula E's ambitions: greater power, more advanced regenerative systems, and a lighter car combine to push electric single-seater performance into genuinely competitive territory against internal combustion single-seaters from earlier decades. Its introduction marked a maturation of the championship's engineering philosophy, shifting from the "spec battery with open motors" approach of the Gen2 to a more complex system integrating third-party front powertrains and the prospect of pitstop recharging — a concept that, once resolved, will bring yet another strategic dimension to Formula E racing.