Faraday Future Pulls Out of Formula E

Last July, the secretive electric car startup Faraday Future announced a partnership with the Formula E team Dragon Racing. Beginning in season 3, it would be the title sponsor and core technical partner under the name Faraday Future Dragon Racing. But according to Autosport, that partnership has come to an end, and Faraday Future has pulled out of Formula E.

The team had already dropped Faraday Future from its name on the 2017/2018 entry list, officially changing its name back to Dragon Racing. But at the time, FF claimed its partnership with Dragon Racing was still intact. It’s still unclear, however, what exactly led to the split. After the partnership was formed, the team struggled, finishing eighth that season. That was a big step back from its pre-Faraday Future finishes of second and fourth place. At the moment, there’s no word on how that poor performance affected the partnership.

As a company, Faraday Future has also been in quite a bit of trouble over the last year or so. It’s had to deal with money issues, production challenges, and important executives leaving the company. Even its plans to build a new factory in Nevada had to be scrapped, with the electric car startup instead opting to lease a much smaller factory in California. Earlier this month, we heard that Tata Motors had invested $900 million in Faraday, but Tata quickly denied that report. From the sound of things, FF could easily have decided to pull out of Formula E due to lack of funds or stability.

At this point, with so much negative news coming out about Faraday Future, you have to wonder if it’s possible for the California-based, Chinese-funded startup to turn things around. If it can, its first production car, the FF91, could be a serious Tesla Model X competitor. But that’s a big “if.”

Source: Autosport

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