Tag Archives: Faraday Future

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 Smart. As part of the deal, Evergrande paid $860 million...

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Faraday Future’s first pre-production FF91 rolls off line at Californian plant

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...

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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 representatives from more than 100 suppliers at its...

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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 has already deposited $550 million of the investment to keep...

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Faraday Future backer Jia Yueting is ordered back to China, has assets seized

Faraday Future's main backer, Jia Yueting, has been ordered to return to China to meet financial obligations promised to investors of his LeEco electronics and video streaming business. The order was issued on Monday by the China Securities Regulatory Commission which has been pushing for Yueting's return since September. Yueting is thought to...

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Faraday Future backer ordered to return to China

Faraday Future's main Chinese backer, Jia Yueting, has been ordered to return to China to meet financial obligations promised to investors of his LeEco electronics and video streaming business. The order was issued on Monday by the China Securities Regulatory Commission which has been pushing for Yueting's return since September. Yueting is...

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Head Faraday Future designer resigns

Faraday Future won't necessarily end 2017 on a high note. The company's chief designer, Richard Kim, tendered his resignation on November 27, The Verge reported last Friday. Kim is a former BMW designer and one of the earlier hires at the fledgling electric-car company. The report said Kim had discussed leaving for about two or three months before...

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Faraday Future out of Formula E as Dragon Racing partnership ends

Faraday Future looks to be out of Formula E after just one season. The struggling electric car startup became the title sponsor and technical partner of the Dragon Racing Formula E team in July 2016, with the team rebranded Faraday Future Dragon Racing for the 2016/2017 season. However, the team has reverted to the Dragon Racing name for the 2017/2018...

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