The elevation to World Championship status in Season 7 represented the culmination of Formula E's growth since its debut in 2014. The FIA designation signified the series' standing as the highest-level competition for electric open-wheel cars and brought it into line with motorsport's most prestigious multi-discipline titles.
The season continued to be shaped by the pandemic. Races in Sanya and Seoul were cancelled for the second consecutive year. The Santiago double-header, originally planned as the season opener, was postponed in December 2020 due to UK travel restrictions and later cancelled entirely in April 2021. The Paris ePrix was also cancelled. In place of Mexico City, where the traditional venue was being used as a field hospital, Formula E debuted at the Autódromo Miguel E. Abed in Puebla, approximately 120 kilometres southeast of Mexico City.
New venues included the Circuit Ricardo Tormo in Valencia, which had previously hosted pre-season testing. The London ePrix returned after a five-year absence, using a track layout inside and around the ExCeL exhibition arena. The Monaco ePrix returned on its biennial cycle, using the full Grand Prix circuit for the first time. The Diriyah ePrix became the first Formula E race held at night.
The planned facelift of the Gen2 car — known as the Gen2 EVO — had been intended to debut in Season 7 but was delayed due to pandemic-related disruptions and was ultimately cancelled. The championship instead committed its development resources toward the third-generation Gen3 car, scheduled for introduction in the 2022–23 season.
Sam Bird departed Virgin Racing after several seasons and joined Jaguar, replacing James Calado. Nick Cassidy took Bird's seat at Virgin after competing in Marrakesh's rookie test. René Rast was elevated from his late-season replacement role to a permanent seat at Audi. Pascal Wehrlein joined TAG Heuer Porsche, replacing Neel Jani. Alexander Sims and Alex Lynn — both British — joined Mahindra Racing, with Sims replacing Jérôme d'Ambrosio, who transitioned into a management role as Venturi's deputy team principal. Jake Dennis joined BMW i Andretti Motorsport.
Norman Nato joined ROKiT Venturi Racing in place of Felipe Massa. Sérgio Sette Câmara was retained permanently by Dragon / Penske Autosport after racing for the team in the final Berlin rounds of Season 6. Tom Blomqvist replaced Daniel Abt at NIO 333. Nico Müller left midseason due to scheduling conflicts and was replaced by Joel Eriksson.
Nyck de Vries became the first Dutch driver to win a single-seater FIA World Championship, taking the title in the Mercedes-EQ car. Mercedes sealed the Teams' Championship, completing a dominant debut as a full manufacturer entry. The result came in de Vries' first full season in the series, a notable achievement in a competitive field. Mercedes' double success in their maiden season as a championship-winning entity highlighted the German manufacturer's technical mastery of the Gen2 platform, just as the series prepared to transition to a new generation of machinery.