Friday, September 1, 2017

Faraday Future Dropped From Formula E

Los Angeles-based Faraday Future has pulled out of the Formula E, all-electric racing series, as it continues to pull back its (once) extravagant marketing and focus more on developing its product. Faraday Future had just joined the circuit last summer in a deal with Dragon Racing. Faraday Future is reportedly looking to save cash by pulling out of the series. The company recently decided to shut down efforts to build a massive "megafactory" in Nevada, and instead leased some already-built, low cost space in the San Joaquin valley.

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