Jaguar Land Rover is to enter a team into the Formula E racing championship – raising hopes of a return to Formula One .

The car giant will enter a Jaguar team into the FIA Formula E championship from next year and will use it to develop electric technologies to go into road cars.

Automotive experts are hoping it might be a step towards Formula One – which JLR was involved with in 2004 under previous owner Ford – particularly after the we revealed plans to buy Silverstone .

In Formula E, it will work with Williams Grand Prix Engineering, which runs the Williams F1 team, to develop the car and engine.

Jaguar Land Rover and Silverstone: A marriage made in Britain

David Bailey, professor of industrial strategy at Aston Business School, said: “This raises the question over whether Jaguar will make a return to Formula One.

“They have put a lot of money into it in the past, in the Ford days, and I would love to see it again.

“It would be fantastic for the brand and getting Jaguar Land Rover known around the world.

“It might also help to save Silverstone for the future. The scale of investment around Formula One is huge and it has been a major issue for Silverstone.

“Hopefully this would secure Silverstone’s position long into the future.”

Formula E is seen as an up-and-coming challenger to Formula One.

Jaguar's Formula E entry showcases green ambitions

The entry into the competition is the biggest step into motorsport by new JLR owner Tata Motors.

Formula E has just started its second season, with the last race of the first season held in Battersea Park in London.

Nick Rogers, group engineering director for JLR, said: “Electric vehicles will absolutely play a role in Jaguar Land Rover’s future product portfolio and Formula E will give us a unique opportunity to further our development of electrification technologies.

“The championship will enable us to engineer and test our advanced technologies under extreme performance conditions.

“It is my belief that over the next five years we will see more changes in the automotive world than in the last three decades.

“The future is about being more connected and more sustainable; electrification and lightweight technologies are becoming more important than ever as urbanisation continues to increase.”

The announcement from JLR comes after the expanding car giant announced it was to build a new £1 billion factory in Slovakia that will produce 150,000 vehicles a year and employ 2,800 people. It is scheduled to open in 2018.

JLR said this plant will “complement” its UK operations, despite concerns from trade unions that it could put jobs at risk.