Struggling Electric Vehicle Startup Faraday Future Signs Deal to Raise up to $350 Million in Financing to Help it Stay Afloat
Electric vehicle startup Faraday Future Intelligent Electric Inc (“Faraday Future”) is set to receive another financial lifeline after the company signed a deal to raise up to $350 million. Faraday Future said that financing from an affiliate of Yorkville Advisors Global with an initial commitment of $200 million gives it the cash it needs to start production and deliver its first EV to customers named the “FF91”.
FutureCar Staff 2022-11-14 11:00 PT
Faraday Future Delays Launch of FF91 Electric SUV Again
While Faraday Future revealed a production version of the FF91 electric SUV earlier this year, the company has had to push back the vehicle’s on-sale date to before the end of 2022.
Vineeth Joel Patel2022-09-06 21:00 PT
EV Startup Faraday Future to Supply U.S. Hybrid Corp with Powertrains for Commercial Hybrid & Electric Vehicles
Electric vehicle startup Faraday Future (FF) announced last week a strategic partnership with electric powertrain developer US Hybrid Corporation. The Southern California company will use electric drivetrains developed by FF for its commercial electric and hybrid vehicle conversions.
Eric Walz2020-04-15 13:00 PT
With a New CEO, EV Startup Faraday Future is Focused on Transforming Mobility
Luxury electric vehicle startup Faraday Future was once viewed as a serious competitor to Tesla. Now the company is getting back to business under the leadership of its new CEO. Faraday Future is now led by former BMW engineer Dr. Carsten Breitfeld, the former head of BMW's i8 program.
Eric Walz2019-12-29 14:30 PT
Founder of EV Startup Faraday Future Files for Bankruptcy Protection
The founder and CEO of financially troubled electric vehicle startup Faraday Future (FF) has filed for bankruptcy restructuring under Chapter 11 in the U.S.
Eric Walz2019-11-20 15:35 PT
EV Startup Faraday Future Announces $225 Million in Bridge Financing
Financially strapped electric automaker Faraday Future (FF) has received another batch of fresh funding. The company announced a series of strategic moves designed to support completion and launch of its first electric vehicle, the flagship FF91 and support of its vendor and supply chain.
Eric Walz2019-06-06 05:00 PT
EV Startup Faraday Future Saved by $600 Million Investment from Internet & Gaming Co The9
Financially strapped electric vehicle startup Faraday Future (FF) looked like it was on the brink of insolvency last week after selling off its California headquarters to generate enough funds to stay afloat. Now the struggling electric automaker has received a lifetime from Chinese Internet company and video game distributor The9 Limited (The9), an unlikely place for a EV startup.
FutureCar Staff 2019-05-01 13:49 PT
EV Startup Faraday Future Restructures its $2 Billion Investment Deal With Evergrande
Evergrande announced on Monday that it has agreed to restructure its $2 billion investment in electric vehicle startup Faraday Future (FF). Evergrande is FF’s main investor. As part of the new agreement, Evergrande will walk away with full control over Faraday Future’s efforts in China, and both sides will drop all ongoing litigation.
FutureCar Staff 2019-02-08 11:33 PT
Faraday Future CEO Ownership Stake Frozen by Federal Judge in California
Struggling electric automaker Faraday Future, once seen as becoming the biggest rival to Tesla, has suffered another major setback and is on the brink of insolvency. A federal judge has frozen Faraday Future CEO Jia “YT” Yueting’s ownership stake in the company, according to new court documents filed Thursday.
FutureCar Staff 2019-01-20 17:23 PT
Faraday Future Co-founder Resigns as the Automaker Forces Workers to Take Unpaid Leave
Financially troubled EV startup Faraday Future (FF) is on the brink of collapse and the company’s co-founder Nick Samson has resigned from the company, stating the automaker "is effectively insolvent in both its financial and personnel assets."
Eric Walz2018-12-06 13:51 PT
Struggling EV Startup Faraday Future Lays Off Workers & Cuts Wages By 20 Percent
Faraday Future (FF), the struggling electric vehicle startup has announced significant layoffs and employee salary cuts of 20 percent, as the company burns through its cash in pursuit of Tesla and other electric vehicle startups in the luxury electric car space.
FutureCar Staff 2018-11-29 17:21 PT
Faraday Future Completes Assembly of its First Pre-Production FF91
Troubled electric automaker Faraday Future (FF) appears to be making progress on its plans to deliver its first luxury electric vehicle. The company held an event today to celebrate the completion of the first pre-production model of its planned FF91 flagship.
Paul Young2018-10-04 18:21 PT
Faraday Future Appoints Ford Motor Co. Executive as New VP Of Finance
Financially strapped electric vehicle startup Faraday Future (FF) announced today that Michael Agosta, former CFO of Ford Motor Company Middle East and Africa, has been appointed the position of Vice President of Finance in North America.
Eric Walz2018-06-24 15:17 PT
Faraday Future Hosts Global Supplier Summit at its California Headquarters
Faraday Future (FF) kicked off its first Global Supplier Summit at its headquarters in Gardena, California this week and nearly 200 representatives from more than 100 global suppliers joined the two-day event, a crucial gateway to achieving the first delivery of the company’s flagship FF 91 electric vehicle by the end of 2018.
Eric Walz2018-03-23 17:54 PT
Faraday Future May not Have a Future As Chief Designer Resigns
Troubles continue to mount at electric car startup Faraday Future, as Chief Design Officer Richard Kim unexpected resigns from company, according two people at the company with direct knowledge of the situation.
Eric Walz2018-01-07 12:31 PT
EV Startup Faraday Future Struggling as CFO and Others Resign
Stefan Krause, the company’s CFO who joined Faraday Future just eight months ago, quietly resigned from the company in October, as the production of Faraday’s sleek FF91 electric sedan halts.
Eric Walz2017-12-20 13:27 PT
Researchers at South Korea's Chung-Ang University Develop a ‘Meta-Reinforcement' Machine Learning Algorithm for Traffic Lights to Improve Vehicle Throughput
Eric WalzDec 22, 2022 2:30 PM PT
Zeekr's New 009 Electric Passenger Van is the World's First EV to Feature CATL's Advanced ‘Qilin' Battery With a Range of 510 Miles
Eric WalzDec 19, 2022 1:45 PM PT
Hyundai Gets Serious About Electric Performance Cars, Shows off Two Concepts
Vineeth Joel PatelDec 17, 2022 6:15 AM PT