Venturi Automobiles has teamed up with Leonardo DiCaprio to form the tenth and final team on the grid for Formula E. And just like that, the world's first fully-electric racing series is born.

DiCaprio and Gildo Pallanca Pastor, the founder of the Monaco-based EV manufacturer, are just the latest big names to join the series. Richard Branson's Virgin Racing signed on last week, with Drayson Racing, Andretti Autosport, Audi Sport, and Mahindra Racing jumping into the field.

Leonardo DiCaprio with the Venturi Automobiles team. Photo: Formula E

The all-electric racing series will run from September 2014 through June of 2015, with the first racing taking place in Beijing. Ten teams with two drivers each will compete in the series, which will bounce from Malaysia to Rio de Janeiro, Uruguay to Buenos Aires, Los Angeles to Miami, and on to Monte Carlo and Berlin before the season closer in London.

DiCaprio's entrance into the series is yet another in a long string of celebrity-backed racing teams, including Paul Newman and David Letterman, along with actors-turned-racers like Patrick Dempsey and Steve McQueen.

Formula E is being run as an "open championship," meaning each manufacturer can develop their own drivetrains, unlike Formula 1 where each team has to run the same engine using the same basic technology. Naturally, the FIA – the governing body behind the race – has some technical specs each team has to adhere to, but the potential for innovation is much higher than in other open-wheel racing series.

The first vehicle to debut comes from Spark-Renault, and tips the scales at an FIA-mandated 1,763 pounds (800 kilograms). The motor maxes out a 270 horsepower, but is only allowed to use maximum thrust during practice, qualifying, and a "push-to-pass" feature during the race. Otherwise, output is limited at 180 hp, with top speeds estimated at around 140 mph. And rather than swapping tires or batteries during pit stops, the teams will swap cars, replacing one drained racer for a fully-juiced car.

The Spark-Renault SRT_01E made its first test last month, and it sounds like the future – even restricted to 25 percent power. Check it out in the video below.