Mercedes-EQ will leave the ABB FIA Formula E World Championship at the end of Season 8.
The team, alongside the championship, is exploring options to continue its competition in Formula E beyond the end of next season and into the Gen3 era, including attracting new investors.
The German manufacturer entered the championship ahead of the 2019/20 campaign and took its maiden victory at the final round thanks to a one-two on home soil; Stoffel Vandoorne leading home teammate Nyck de Vries in Berlin, while the team finished third in the standings.
Mercedes' second season came to the perfect conclusion during the Season 7 finale at Tempelhof, with Nyck de Vries sealing maiden ABB FIA Formula E Drivers' World Championship honours, and the team securing the Teams' World Championship title.
Alejandro Agag, Formula E Founder and Chairman, said: “We thank Mercedes for their support since joining the ABB FIA Formula E World Championship. Automotive manufacturers are facing EU and UK regulations to transition to a fully electric future, reinforcing Formula E’s vision.
"Formula E, the world's first and only Net Zero Carbon championship, provides an unparalleled technology and marketing platform showcasing the future of electric mobility in iconic city centres around the world. We look forward to developing our championship with our partners, teams and manufacturers who share our commitment to an electric future.”
Jamie Reigle, Formula E Chief Executive Officer, said: “Mercedes have been a valued partner to the ABB FIA Formula E World Championship during Gen2. We look forward to working with the team to explore options for their entry for Gen3 which commences from 2023.
"Six of the world’s leading manufacturers are committed to Formula E’s Gen3 technology roadmap and expanding calendar of global cities. In partnership with the FIA, we will introduce financial regulations to enhance the financial sustainability for Formula E’s teams and manufacturers, ensuring our sport continues to serve as the driving force in the shift to electric mobility."