Formula E and the FIA revealed the third-generation race car for the all-electric open-wheel series on Thursday at the Yacht Club de Monaco, ahead of this weekend’s race through the streets of the Principality.

The series says its Gen3, set to enter competition next season, is the world’s first race car designed and optimized specifically for street racing.

“The Gen3 disrupts and challenges the conventions of motorsport, setting the benchmark for performance, efficiency and sustainability without compromise,” said Formula E CEO Jamie Reigle. “Together with the FIA, we are proud to reveal the Gen3 to Formula E fans and demonstrate to the wider sports industry how elite sport, high performance and sustainability can successfully co-exist in the ABB FIA Formula E World Championship. We cannot wait to see how our teams and drivers push the car to its limit in 2023.”

Seven automotive manufacturers have registered with the FIA to race the new Gen3 in Season 9, for which pre-season testing begins this winter: DS Automobiles (France); Jaguar (UK); Mahindra Racing (India); Maserati (Italy); NIO 333 (UK / China); Nissan (Japan); Porsche (Germany).

Performance parameters given for the new car include:

• Fastest Formula E car yet with a top speed over 322kph / 200mph.

• Most efficient formula racing car ever with more than 40% of the energy used within a race produced by regenerative braking.

• Around 95% power efficiency from an electric motor delivering up to 350kW of power (470hp), compared to approximately 40% for an internal combustion engine.

• First-ever formula car with both front and rear powertrains. A new front powertrain adds 250kW to the 350kW at the rear, more than doubling the regenerative capability of the current Gen2 to a total of 600kW.

• Ultra-high speed charging capability of 600kW for additional energy during a race, almost double the power of the most advanced commercial chargers in the world.

• The first formula car that will not feature rear hydraulic brakes with the addition of the front powertrain and its regenerative capability.

Every aspect of Gen3 production has been tailored for high-performance racing while utilizing sustainable materials and methods. Natural materials have been introduced to tires, batteries and bodywork construction:

• Gen3 batteries are among the most advanced, sustainable batteries ever made consisting of sustainably-sourced minerals while battery cells will be reused and recycled at end of life.

• Linen and recycled carbon fiber will be used in bodywork construction for the first time in a formula car featuring recycled carbon fiber from retired Gen2 cars and reducing the overall amount of new carbon fiber used. This will reduce the carbon footprint of the production of the Gen3 bodywork more than 10%. All waste carbon fiber will be reused for new applications through adoption of an innovative process from the aviation industry.

• Natural rubber and recycled fibers will make up 26% of new Gen3 tires and all tires will be fully recycled after racing.

• The carbon footprint of the Gen3 has been measured from the design phase to inform all reduction measures taken to reduce environmental impact, while all unavoidable emissions will be offset as part of Formula E’s net zero carbon commitment.

• All Gen3 suppliers will operate in line with top international standards to reduce environmental impacts of manufacturing (ISO 14001) and be FIA Environmental Accreditation 3-Star rated.

“Both technologically and environmentally, Gen3 sets new standards in the sport,” said FIA President Mohammed Ben Sulayem. “The FIA and Formula E development teams have done a superb job, and I thank them for their hard work on this project. I am delighted to see so many leading manufacturers already signed up to the championship’s next era and await Gen3’s competitive debut in Season 9 with great anticipation.”

Alejandro Agag, founder and chairman of Formula E said, “The Gen3 represents the ambitious third age of Formula E and the ABB FIA Formula E World Championship. With every generation of race car we push the boundaries of possibility in EV technology further and the Gen3 is our most ambitious project to date. The eyes of the world are on the Principality for the Monaco E-Prix and we are proud to reveal a car that been two years in the making in the historic home of motorsport. My thanks go to the great team behind it at Formula E and the FIA – the future of all electric racing is bright.”

The Monaco E-Prix airs Saturday on CBS at 1:00 p.m. ET, and is repeated on CBS Sports Network that evening at 9:00 p.m. ET.