Italian Giovinazzi has been dropped by the Hinwil-based team in favour of F2 contender Guanyu Zhou, who will become the first Chinese driver in F1 history when he takes to the track next year.
The decision coming so late in the season was thought to have been influenced by the talks between Sauber and Michael Andretti before that deal broke down, with Giovinazzi's future looking uncertain after losing his seat.
The Ferrari Driver Academy graduate will make the switch to the electric single-seater world championship with the Penske-ran Dragon outfit, news Giovinazzi confirmed on social media.
He said: "It's going to be thrilling, it's going to be challenging, it's going to be: ... electrifying!"
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