The class is based on the pre-1963 Volkswagen Beetle, utilizing a collection of stock parts to form a competitive race car around a purpose-built tube frame and racing tires. The VW engine, transmission, front suspension, brakes, and wheels are either stock or modified stock parts. The body is typically fiberglass or carbon fiber. The intention of this class was, and remains, that the average person could race and maintain the car with minimal expenditure, emphasizing driver ability over technological advances.
Formula Vee cars are among the least powerful vehicles in circuit racing. The engines are based on either 1200cc or 1600cc variants of the Volkswagen Beetle engine. In the Australian Formula Vee series, 1600cc engines produce approximately 70-75hp, while the original 1200cc engine produces considerably less. Competitors are permitted to build and tune their engines themselves within strict limitations. The cars feature a stock Beetle swing axle transmission and drum brakes.
Regulations strictly prohibit the use of wings or ground effect devices to produce aerodynamic downforce. This, combined with limited engine power and similar car performance, makes slipstreaming a critical tactical element. A top-running Formula Vee car can reach speeds of 190 km/h (120 mph) and corner at about 1.6 g or 1.7 g. The minimum weight for a car with driver is 465 kg (1,025 lb) or 500 kg (1,100 lb) for the Australian 1600cc specification. The minimum car weight is 500kg for 1200cc and 515kg for 1600cc.
Formula Vee has served as a foundational series for numerous professional drivers. Formula 1 champions Niki Lauda, Emerson Fittipaldi, Nelson Piquet, and Keke Rosberg, along with six-time IndyCar champion Scott Dixon, all began their careers in Formula Vee in Europe, New Zealand, or America. In Australia, V8 Supercar drivers such as Larry Perkins, Colin Bond, John Blanchard, John Bowe, Jason Bargwanna, and Paul Stokell also raced in the category.
The category is contested globally, with established championships and variants of the rules in Australia, Brazil, Canada, Germany, South Africa, the United Kingdom & Ireland, New Zealand, and the United States. In the United States, Formula Vee is a national championship class at the Sports Car Club of America (SCCA) Runoffs, and was the largest car count in 2007. It remains one of the largest open-wheel classes during racing weekends.
Over the years, the rules governing Formula Vee have evolved to improve performance, lower costs, and allow for the replacement of discontinued parts. In 2003, Grassroots Motorsports presented Formula Vee with the Editors' Choice Award. The class is known for its rules stability and cost containment, with cars built 30 or 40 years ago still able to be competitive today.
The success of Formula Vee led to the development of Formula Super Vee. While initially similar, Formula Super Vee soon moved to water-cooled 1.6-litre VW four-cylinder engines for higher-tech and faster cars. Additionally, the Formula First category, raced in the US and New Zealand, employs the same chassis but incorporates upgraded components such as disc brakes, rack and pinion steering, and later-model 1600cc Beetle engines (though New Zealand uses the 1200cc variant). Australia's modern Formula Vee car rules are the definition for Formula First in these countries.
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