The Electric Production Car Series (EPCS) has been approved by international motorsport governing body FIA this week.
Headlining the series will be a grid of race-spec Tesla Model S P100Ds, putting out a massive 585kW of power (778hp).
The Tesla Model S race car recently passed its official FIA crash test, which no doubt played a part in the series getting approved.
In addition to the 585kW power maximum, EPCS format includes a three-heat qualifying round, a 60-kilometre day race, and a 60km dusk race.
Up to 20 drivers will participate in each event, running on special Pirelli tyres, equipped with "the latest OMP safety equipment", Alcon brakes, R53 suspension, and composite bodywork from BComp.
At "suitable circuits", there will also be a post-race 'Drift Off' competition between the top two-finishing drivers, with fans voting for their favourite and the winner awarded an additional three championship points.
"This is such an exciting day for us as we confirm that the Electric Production Car Series has been officially sanctioned by the FIA. We respect the FIA and we are honoured to have their support ahead of our inaugural season," said Mark Gemmell, Electric GT Holdings Inc CEO.
"We are also pleased to officially publish the sporting regulations for the Electric Production Car Series. We have put a lot of time into refining the regulations to allow for competitive and thrilling racing."
A firm date for the first race is yet to be finalised, though the EPCS Championship looks set to commence before the end of the year.