Electric Avenue

Three Chinese car companies are taking over Formula E racing.

- Pamela Ambler

Formula E, the electric-race-car event, wrapped up its third season in July, and the Chinese team Techeetah claimed its first E-Prix victory, a significant achievement. Teams are now gearing up for season four of the global Fédération Internationale de l’Automobile (FIA) Formula E Championship, to kick off in Hong Kong. Racing will take place along the scenic Central Harbor front beginning December 2.

Adding to the excitement, Mercedes-Benz and Porsche announced commitments to join the series in season six, signaling a seismic shift within the auto industry toward electric.

Of the ten participating international teams, two are Chinese-owned. A third, Faraday Future, a California-based automotive startup that surfaced in 2015, is heavily bankrolled by Chinese consumer-electronics conglomerate LeEco. The company, known as the Netflix of China, is undergoing financial turmoil at the moment, but that hasn’t put a damper on Faraday’s racing ambitions.