Faraday Future
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Faraday Future looks set to expand into China with help from Geely and Foxconn.
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Faraday Future to go public via reverse-merger deal that could raise $1BFaraday Future looks set to be the latest in a string of EV startups to go public via a SPAC deal.
Viknesh Vijayenthiran -
Here's your chance to actually own a Faraday Future FF91 today
Two prototypes for Faraday Future's FF91 are headed to auction.
Viknesh Vijayenthiran -
China's Evergrande commits $6.4B to become EV force
Evergrande Group will establish the EV brand Hengchi whose first model is due in 2020.
Viknesh Vijayenthiran -
Byton co-founder explains why he left Chinese startup after just 3 years
Byton co-founder Carsten Breitfeld is currently CEO of rival EV startup Faraday Future.
Viknesh Vijayenthiran -
Faraday Future's new CEO is the co-founder of rival EV startup Byton
EV startup Faraday Future is undergoing a restructure that has seen it name a new CEO and potentially formed new partnerships.
Viknesh Vijayenthiran -
The soap opera that is Faraday Future's road to production took a new twist on Monday with the EV startup announcing a bridge loan that will keep funds flowing as the company attempts to raise capital to get the FF91 crossover into production and develop additional models. There's a potential $225 million on the table via the bridge loan, which consists of $75 million of secured financing and a secured vendor trust of the remaining $150 million. The vendor trust will be used to pay down some of Faraday Future's existing debts to suppliers as well as provide a buffer to obtain commitments from...
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This is the minivan Faraday Future's designing for a Chinese video game company
Faraday Future plans to form a joint venture with Chinese video game company The9 to build hundreds of thousands of EVs in China.
Viknesh Vijayenthiran -
Faraday Future's latest lifeline: a Chinese video game company
Faraday Future, the California-based electric car startup, has been in limbo since the middle of last year due to financial woes, but the company has received a new lifeline. It comes from a rather unlikely place: a Chinese video game company. The startup announced it has signed a joint-venture...
Sean Szymkowski -
Faraday Future sells headquarters in leaseback deal
Faraday Future has sold its headquarters in Gardena, California, and is leasing it back for now. Real estate company Atlas Capital purchased the site on March 8 and is leasing it back to the electric car startup, which originally bought it in 2014 for $13.2 million, The Verge reported on Wednesday...
Viknesh Vijayenthiran -
Faraday Future selling land purchased for proposed Nevada plant
Faraday Future only a few short years ago planned to spend $1 billion to build a sprawling high-tech facility north of Las Vegas to churn out its electric cars. However a cash crunch in late 2016 meant the Chinese-backed, Californian EV startup had to scale back its plans, including abandoning the...
Viknesh Vijayenthiran -
Faraday Future investor buys EV startup that took over Saab
China's Evergrande Group, a key investor in U.S.-based Faraday Future, announced Tuesday it has acquired a controlling stake in NEVS, the Chinese-backed, Swedish company born out of the ashes of Saab. In a statement, Evergrande said it acquired 51 percent of NEVS in a quest to diversify into the...
Viknesh Vijayenthiran -
Faraday Future has managed to stave off what seemed like imminent death by ending a dispute with key investor Evergrande Health Industry Group, the same company Faraday Future accused last October of trying to gain its intellectual property. The two firms said Monday that they have agreed to terminate all previous investment contracts, withdraw and waive all current litigation and arbitration proceedings, and remove all roadblocks to Faraday Future raising further funds. Evergrande agreed last June to purchase a 45-percent stake in Faraday Future by acquiring Season Smart, an existing...
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Faraday Future employees sue key investor
Drama continues to unfold between electric car startup Faraday Future and its key investor, Chinese conglomerate Evergrande Health Industry Group Ltd. A Wednesday report from The Verge uncovered that Faraday Future employees have now sued the investor. Employees filed the lawsuit in Los Angeles...
Sean Szymkowski -
Faraday Future seeking new investment
Faraday Future has officially opened itself to "potential investors from around the world." The electric-car start-up said it has begun exploring strategic options, according to a Thursday Reuters report, and hopes to attract new investors. Options include debt and equity financing. This year has...
Sean Szymkowski -
Faraday Future co-founder Nick Sampson steps down
Faraday Future is currently in the midst of serious financial and executive turmoil. Top leadership is jumping ship as previously secured funding is not quite as secure as previously believed. Now, company co-founder and senior vice president of product R&D and engineering Nick Sampson has...
Jeff Glucker -
Faraday Future plans layoffs, wage cuts as money troubles resurface
Faraday Future has once again shifted to a poorer outlook as the electric car startup prepares to lay off employees and cut employee salaries. The latest measures in frugality come as Faraday Future feuds with its main investor over new installments of funds. The Verge reported on the forthcoming...
Sean Szymkowski -
Faraday Future enters dispute with key investor
Electric car startup Faraday Future is currently embroiled in a dispute with key investor Evergrande Health Industry Group, a subsidiary of property developer China Evergrande Group. Evergrande agreed in June to purchase a 45-percent stake in Faraday Future from a company by the name of Season...
Viknesh Vijayenthiran -
Electric car startup Faraday Future appears to be back on track with development of its first model, the FF91, following a rough couple of years resulting from cash shortages and a senior executive exodus. The Chinese-backed, U.S-based company reached a major milestone Tuesday with the completion of its first pre-production FF91 at its plant in Hanford, California. In the auto industry, pre-production represents the stage of development where final testing and certification and registration processes take place. It also provides plant employees with an opportunity to iron out any production...
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Faraday Future hits key milestone with first FF91 body-in-white
Electric car startup Faraday Future appears to be back on track with development of its first model, the FF91, following a rough couple of years resulting from cash shortages and a senior executive exodus. The company on Monday announced it has completed the first body-in-white for the FF91 at its...
Viknesh Vijayenthiran -
Hong Kong firm to buy 45 percent of Faraday Future
Remember Faraday Future? The cash-strapped electric car startup hasn't been in the headlines of late but it isn't dead yet. In fact, the company may have been thrown a lifeline in the form of a stake sale to Hong Kong firm Evergrande Health Industry Group, a subsidiary of property developer China...
Viknesh Vijayenthiran -
Ex-Faraday Future execs form EV startup, promise first model by 2021
A band of executives that up until last year were working for Faraday Future have joined forces to launch an electric car startup of their own. Their new company, called Evelozcity, is based in Los Angeles and already has seed funding of approximately $1 billion from investors in the United States...
Viknesh Vijayenthiran -
Faraday Future teases second SUV at supplier meeting
Faraday Future on Wednesday gave a preview of a model to follow the FF91, which the company remains hopeful of getting into production by the end of 2018. The preview came in the form of a design sketch shown briefly to attendees at a supplier meeting. The electric car startup held the meeting with...
Viknesh Vijayenthiran -
Faraday Future receives $1.5B lifeline
Faraday Future's vision hasn't exactly panned out as once imagined, and serious financial problems have ensued. However, a Hong Kong-based entity has thrown the struggling electric-car maker a $1.5 billion lifeline to keep the lights on. Business Insider reported on Tuesday that the unnamed entity...
Sean Szymkowski
