Faraday Future's Formula E Team Won't Be Affected By Money Troubles, Report Says

Dragon Racing Team is a go for NYC ePrix.

Motoroids

Faraday Future hasn't exactly had it easy as of late. The all-electric company's major investor, LeEco, has underwent a series of financial troubles that left its standings with the automaker startup questionable; also, Faraday put a halt on its $1 billion production facility due to lack of capital funding. Worries popped up that the brand's Formula E venture would be affected by these woes, but as Jalopnik reports, that's not the case. 

According to Faraday Future and the Dragon Racing Team boss, all is well within the partnership. That's good news, and with Formula E hitting New York City for its inaugural ePrix event, the crew can use all the support it can get. 

There's no doubt that recent problems had the team worried, but crew chief Jay Penske reassured that all is well. 

Faraday Future's official role in the Dragon Racing Team operation is "core technical partner" according to the report, in addition to being a title sponsor. The newcomer electric car brand wants to keep building on the relationship, too, meaning that Formula E could be a worthwhile motorsport venture for the Silicon Valley company.

“As a technical partner for season 3 (2016/17), we work together to develop key technology hardware and software solutions to maximize the powertrain and vehicle performance and efficiency,” FF spokesperson Morgan Theys said in an email. “During season 4 (2017/18) and beyond, FF will expand its relationship as a technical partner to supply hardware and software to help maximize drivetrain performance and vehicle efficiency.”

Theys continued on even further by talking about what the two have in store come 2019. 

“In season 5 (2018/19) and beyond, we will implement various FF powertrain components, software, firmware and other hardware as the team sees fit. This could include Faraday Future motors, gearbox, and the FF Echelon Inverter.”

It'll be interesting to see how this team competes against the big boys of Audi Sport and BMW, both of which made major dedications to the sport just recently. The Brooklyn ePrix takes place this weekend, so make sure to pay attention as David battles Goliath in the growing FIA series.