McLaren Racing announced on Monday that it had signed an option to enter the FIA Formula E World Championship's 2022/23 season.
McLaren racing boss Zak Brown had hinted last month at a possible involvement of the Woking-based manufacturer once its McLaren Applied exclusive battery supply contract with FE expires at the end of the 2021/22 season.
However, ahead of a firm commitment to the all-electric series, McLaren will continue to evaluate its opportunity over the course of 2021.
"We’ve been closely observing Formula E for some time and monitoring the series’ progress and future direction," Brown said in the company's release on Monday.
"The opportunity to take an option on an entry, together with the completion of the McLaren Applied supplier contract with the FIA at the end of Gen 2, gives us the necessary time to decide if Formula E is right for McLaren as a future competition platform."
Brown added that this year's observation period would help McLaren understand "a broad range of factors" impacting the series, including the recent high-profile withdrawals of BMW and Audi.
"The reason we’ve taken up an option is to give ourselves the appropriate time to evaluate Formula E as a platform for McLaren Racing in the future," commented Brown.
"It will be a comprehensive evaluation and will look at a broad range of factors, including the new Gen3 car, upcoming budget cap, commercial and marketing outlook, and the background to decisions made by those brands who have chosen not to continue.
"We have taken the option now to give ourselves the appropriate time to properly evaluate this proposition in detail. We are satisfied that we have the necessary time should we choose to commit."
Brown did not disclose how much McLaren had disbursed to secure its option with FE, or whether it will field its own team or rely on a partner to enter the series.