The French national, who was a former Renault and Jordan test driver, raced for Super Aguri seven times in 2006 and raced for Andretti team in the Formula E series during the Beijing and Putrajaya races.
The 36 year old racer was replaced by fellow Frenchman Jean-Eric Vergne, for the Punta Del Este event.
Montagny has admitted to using drugs because he tested positive for using drugs, a derivative of cocaine. He is currently suspended from racing until the Fédération Internationale de l'Automobile (FIA) hands a sanction.
Montagny admitted saying, "After the event I saw the guy who tests signalling me. There, in my head, I knew immediately. It was over. I made a mistake, I'm guilty."
Franck Montagny, apart from his Formula One and Formula E career, he also raced for the Le Mans between 1998 and 2012 for teams like Courage Competition, DAMS, Team Oreca, Pescarolo Sport and Team Peugeot Total.
Montagny had also worked as a Formula One commentator for a French television.