Formula E today unveiled the third-generation racecar that will compete on street circuits around the world next year. The sport calls this its fastest car yet, as it becomes capable of hitting 200 mph (322 km/h).

The new angular design is smaller in all directions than the outgoing Gen2 car, to make it more capable of racing wheel-to-wheel on the tight street circuits, like Monaco, where the racing series runs.

Monaco is the spiritual home of motorsport and there is nowhere more fitting to unveil our Gen3 race car,” said Jamie Reigle, CEO of Formula E. “The Gen3 disrupts and challenges the conventions of motorsport, setting the benchmark for performance, efficiency, and sustainability without compromise.”

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To allow speeds of up to 200 mph (322 km/h), the new Gen3 car features a new motor that’s capable of putting out 470 hp (350 kW/476 PS). Despite the extra power it also weighs just 840 kg (1,852 lbs), 60 kg (132 lbs) less than the outgoing car.

That’s thanks, counterintuitively, to smaller batteries made possible by improved power regeneration. Gone are the hydraulic rear brakes, replaced entirely by regenerative brakes. This is also the first Formula E car with a front 250kW powertrain, which combined with the rear 350kW unit, raises the regenerative capability to a total of 600kW. Formula E claims that roughly 40 percent of the energy used in a race will be generated by braking alone.

Formula E adds that, unlike in other forms of motorsport, software engineering will be the new developmental battleground for the teams. Performance upgrades to the Gen3 cars will be delivered as software updates and uploaded to the advanced operating system built into them.

“Both technologically and environmentally, Gen3 sets new standards in the sport. 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.”

Indeed, Formula E says that its new battery is made with sustainably sourced materials and will be recycled at the end of its useful life. The Gen3 cars are made of recycled carbon fiber, which has helped them reduce their carbon footprint by 10 percent.

The new Formula E car will race next year for the ninth season of Formula E. Seven automakers have already signed up to compete, including DS Automobiles, Jaguar, Mahindra Racing, Maserati, NIO 333, Nissan, Porsche AG.

“The Gen3 represents the ambitious third age of Formula E and the ABB FIA Formula E World Championship,” said Alejandro Agag, the founder and chairman of Formula E. “The eyes of the world are on the Principality for the Monaco E-Prix and we are proud to reveal a car that has 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.”