Two major car manufacturers will join Formula E for the 2016-17 series, series boss Alejandro Agag told Current E this week.

The new entrants will partner with or buy out existing teams, such that there will remain a total of 10 teams in Formula E’s third season. Any further expansion in the number of teams will not come until the series has reached the point where drivers use a single racing car instead of two, Agag says (which he predicts will be season five), with an upper limit of 12 teams in total.

“The big manufacturers will come to Formula E, sooner rather than later,” the charismatic Spaniard told Current E editor Ross Ringham on Wednesday, discussing the composition of the Formula E grid. “If you think about it, Renault is one team; DS with Virgin is another team; ABT is flirting with Audi or VW (one of them will go in); you have Mahindra, which is a manufacturer; you have NextEV, which is a manufacturer in development. So you have five.”

More big brands are already signed up, Agag went on to say: “I have another two that I cannot tell yet. So you have seven – there are only three [teams] left so OEMs better hurry up. I think Formula E will have 10 manufacturers in season four.”

Clarifying how OEMs can join the series, Agag explained: “There are no new entrants so they have to go through existing teams. We can only have more when we go from two cars to one car in the race, which looks like will happen in season five. Once that happens, we will have room for two more entries. But we will never have more than 12 teams.”

As to when we can expect to hear news (such as that revealed by Sky News today of Jaguar Land Rover’s intention to join the sport), Agag said simply: “It’s for next season but we will know this season.”