I don't follow Formula I closely, but I think I read in a car mag that Ford is committed to EV Formula I, which I know has not won full respect among the long-time fans.
But Ford is following the adage, "Race on Sunday, sell on Monday," and may have their eye on the target. You don't get much of the glorious noise with EV racing, but the engineers wring some staggering horse power out of those big motors, not to mention acceleration.
With street vehicles, I worry about the average Jane and Joe plopping behind the wheel of a 750 hp commuter car that looks like a Prius. It used to be that when they sold you an internal combustion car with that kind of horse, they'd make you take a special class so you didn't kill yourself. No one's talking about this too much ... yet.