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Oscar-winning actor Will Smith is launching a new team in the UIM E1 World Championship, which is the first all-electric raceboat league. The team will be called Westbrook Racing, the same name as Smith's global entertainment company.

Westbrook Racing will compete in the inaugural season of E1. The team will participate at the E1 Venice GP on May 11-12 as the series descends upon Italy.

"As a fan of racing, the opportunity to be part of the E1 fleet and play a role in realizing its broader vision got me very inspired," Smith said in a statement. "The entire Westbrook team is truly excited to bring Westbrook Racing to the water and join such an amazing group for this race."

The Championship features nine teams that compete against one another in races at iconic global cities, including Jeddah, Monaco, and Hong Kong, according to a press release.

Smith will join the likes of fellow Championship owners Tom Brady, Rafael Nadal and DJ Steve Aoki in the all-electric raceboat league.

Westbrook Racing will be led by racing star Lucas Ordoñez, who began racing in the virtual world before racing at Le Mans on five different occasions. Sara Price, who is a professional racer and stuntwoman, will also be on the Westbrook Racing team.