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Formula Vee (V for Volkswagon) was established in Australia in 1965 using VW beetle parts combined with a steel tube chassis and race tires to create an affordable, reliable and simple entry level formula race car.

National class regulations govern what can and can not be used, however today's race cars still relying on early VW Beetle components including engine, gearbox, suspension, H-Beam, Brakes and Wheels. Chassis continue to be steel tube construction while body panels are generally fiberglass or carbon fiber.

Formula Vee engines are a four cylinder horizontally opposed naturally aspirated air cooled engine in both 1200cc and 1600cc. This simple design means that even people with little mechanical knowledge or experience can quickly pick up the basics and perform their own simple maintenance and tuning.

Formula Vee gear boxes are also stock VW Beetle components however they are mounted in reverse at the rear of the car to provide better weight distribution, this however means that when installed the car has four reverse gears and one forward gear (opposite to when normally installed), this requires the diff to be reversed to reinstate four forward gears and one reverse.

Formula Vee race cars reach speeds of 180km/h to 190km/h down the strait of Sydney Motor Sport Park with most race circuits mainly using third and fourth gears. The benefits of using the durable and affordable Volkswagen parts means that Formula Vee remains a popular category for people looking to get more involved in motor sports and racing.