Maserati, Formula One winners with Juan Manuel Fangio in the 1950s, will compete in Formula E from 2023 as the first Italian brand to enter the electric world championship.
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Chief executive Davide Grasso hailed a "back to the future" first step for a 107-year-old company famed for fast luxury cars and keen to re-establish its sporting credentials.
The Modena-based marque is part of Stellantis, formed last year by the merger of Fiat Chrysler and France's PSA, and has already announced that all its models will have electric versions by 2025.
Grasso told reporters Maserati had been working for a year with Formula E on plans for a return to the racetrack for the first time since 2010 when it competed in the GT1 sportscar championship.
Formula E chairman Alejandro Agag said the announcement was "probably one of the greatest days in the history of the championship.
"To have a brand as iconic as Maserati, with the racing heritage... come into the electric revolution that we are pushing is really an incredible moment for Formula E."
The FIA-sanctioned city-based series will be starting its ninth season next year with a third generation (Gen3) car billed as the world's most efficient and capable of reaching speeds of 320kph.
Grasso promised details soon on how Maserati would participate.
