Enlarge / After a 10-year gap, Lola is back developing an electric racecar, or at least the powertrain for one, as it will enter Formula E next season. (credit: Lola) In 2022, we brought news that Lola, a once-famous racing company, was planning its renaissance. Lola never really cracked Formula 1, but it did have success in IndyCar and sports car racing with cars it designed and built from the 1960s until it ceased trading in 2012.