The New Zealander has been part of the Jaguar line-up alongside compatriot Mitch Evans since Season 10.
Cassidy came up short of winning the title in his first year with the British outfit and this year sits fifth in the drivers’ championship with one round remaining in Season 12.
The 30-year-old, who is in the midst of his fifth Formula E campaign, is reportedly set to stay in the all-electric championship.
A move to Stellantis-owned team Maserati is reportedly his next move, which would open the door for him to race with FIA World Endurance Championship team Peugeot.
“The decision to leave Jaguar TCS Racing has not been an easy one, but ultimately it is the right one for me personally,” said Cassidy.
“I’d like to thank everyone at the team for their support since I joined at the beginning of Season 10. We have fought hard and had some great success together.
“I particularly want to thank the engineers and mechanics on the #37 side of the garage – we’ve made some amazing memories.
“Looking ahead to London this weekend, we’ll work as hard as ever as a team to ensure we’re competitive and fighting for another top‑three finish in the drivers’ world championship.”
Jaguar team principal James Barclay thanked Cassidy for his efforts.
“Nick is an exceptional racing driver and a very astute competitor as the world can see from his performances,” said Barclay.
“He has impressed everyone in the team with his unwavering dedication to win and I’m proud of the role he’s played in our team success.
“On behalf of the whole team, I’d like to thank Nick and wish him all the best for a successful future – starting of course with the final race weekend of the 2024/2025 Season in London, where together we’ll still be fighting as hard as ever for points, podiums and wins.”
Season 12 of the FIA Formula E World Championship concludes with a double-header in the United Kingdom at ExCeL London on July 26-27.
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