Faraday Future
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Faraday Future has replaced longtime CEO YT Jia, who will be chief product officer for the company, which is still struggling to get its FF91 to market.
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Report: Faraday Future could soon undergo restructuring, shed CEO
CEO Yueting (YT) Jia could be stepping aside as part of a restructuring before the expected round of Faraday Future financing, according to a report from China.
Bengt Halvorson -
Faraday Future revealed: Company gets funding to produce FF91
The fledgling electric-car startup secured a bridge loan and will sell stock to continue production on its luxury sedan.
Eric C. Evarts -
Tesla Autopilot updates, Lucid gets clearer, Faraday's Future: Today's Car News
Lucid Motors gets funding to build its Air. Faraday Future releases details on the future product it plans to build for China. Tesla has updated its Navigate on Autopilot system to be a little more autonomous. And we look at why the federal tax credit may need limits. All this and more on Green Car...
Eric C. Evarts -
Faraday Future joint venture to create electric MPV based on FF91
Last month the troubled electric car hopeful Faraday Future was given (another) new lease on life, via a new joint venture with The9, a Chinese online game company, that will produce a new model for the Chinese market based on Faraday’s nearly mothballed FF91. It’s now a lot clearer...
Bengt Halvorson -
Tesla service, Faraday Future lifeline, EV sales, Canoo: Today's Car News
In an effort to speed up wait times at its service centers, Tesla is eliminating regular annual service visits for its cars. Canada is planning on launching its first nationwide tax credit for electric cars. A new report estimates that by 2030, almost 70 percent of new cars sold in the U.S. may...
Eric C. Evarts -
The shame of Faraday Future's financial struggles is that it has what looks to be a viable new electric car, not just on paper, but ready to roll on the road—in prototype form—that may never actually make it to market. On Sunday, the company revealed a new joint venture with a video-game company in China that could bring it $600 million to build a version of its FF91 in China. The company will form a joint venture with The9, a Chinese video-game company that launched the first Chinese virtual currency and community in 1999 and once had the exclusive license to operate World of...
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Tesla Autopilot ranking, GM EV investment, VW battery pact, Faraday fire sale: Today's Car News
A new study is not kind to Tesla's Autopilot. GM announces a new electric Chevrolet to sell alongside the Bolt EV—but it wouldn't say what. Volkswagen forms an alliance to develop European batteries for EVs. And Faraday Future hosts a fire sale. All this and more on Green Car Reports. Facing...
Eric C. Evarts -
Faraday Future posts "For Sale" signs, as Evergrande backer announces first EV
Faraday Future has been selling like crazy lately. Only, not its cars. The company announced last week that it is seeking a buyer for its original factory site in Las Vegas, where it announced at the 2017 Consumer Electronics Show that it would build its future FF91 and FF81. It also announced then...
Eric C. Evarts -
Faraday's Saab future, Nissan-Infiniti hybrids, global Geely: Today's Car News
Nissan is working on a more powerful hybrid system for U.S. models. Geely gives a peak at its first electric model planned to go on sale worldwide. And our Twitter poll last week answered which electric pickup may cross the finish line first. All this and more on Green Car Reports. After ending a...
Eric C. Evarts -
Faraday Future funder writes its own Saab story
Chinese health insurer Evergrande Health really wants in on electric cars. After backing Faraday Future and running into a feud with its Chinese founder Jia Yueting, Evergrande on Tuesday bought a controlling interest in National Electric Vehicles Sweden, the Chinese company that bought the rights...
Eric C. Evarts -
Volvo Polestar 2, Tesla Model 3 range, self-driving Lexus: Today's Car News
Tesla bumps up the range of its Mid Range Model 3, slightly and announces it will start delivering Model 3s to China in March. Volvo teases a look at its first electric model, the Polestar 2. Faraday Future flutters its eyes open, looking for its future, as it agrees to a mutual cease-fire...
Eric C. Evarts -
Like a prizefighter listening to counts of "eight" and "nine," Chinese electric-car startup Faraday Future, has started groaning, sputtering, and trying to stand. The company, which sputtered to a start building prototype electric luxury cars last year, then was abruptly knocked out when its new Chinese financial backer withheld funds in a contract dispute, has reached a new agreement with its benefactor, with each side agreeing to retire lawsuits against each other, and Faraday receiving the green light to seek new investment. The company controls a leased factory in California and has...
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Ghosn out at Nissan, VW I.D. names, Faraday Future soap opera: Today's Car News
Nissan announced it planned to remove Chairman Carlos Ghosn after an investigation revealed alleged financial misdealing. VW has no fun trademarking names for its new series of I.D. electric cars. The EPA plans to tighten emissions rules on heavy trucks. And cross-lawsuits reveal the underlying...
Eric C. Evarts -
Faraday Future sues investor claiming takeover "plot"
The story of Faraday Future keeps getting stranger. After making a splash at the Consumer Electronics Show in 2017 and announcing plans to build a giant new factory in Las Vegas, then virtually disappearing when it ran out of money, the company was revived with a new investment this year, bought a...
Eric C. Evarts -
50 million VWs, Faraday Future exodus Tesla Track Mode: Today's Car News
VW announced plans to build almost as many electric cars as it did diesels. Faraday Future's last founding executive steps away. Tesla introduces Track Mode on Model 3 Performance cars. And we hear which electric car our Twitter followers would buy in our latest poll results. All this and more on...
Eric C. Evarts -
GoFundMe campaign aims to keep Faraday Future employees afloat
When some companies fall on hard financial times, they turn to Wall St. to sell stock or to banks to get loans. Faraday Future has tried all of that and is trying to raise another $500 million in cash or debt to continue developing its $300,000 electric luxury car. In the meantime, its employees...
Eric C. Evarts -
GM EV1 exec leaves Faraday Future (Updated)
In the midst of the latest round of financial turmoil at the company, Faraday Future has lost a key executive, according to a report in the Verge. Peter Savagian was senior vice president at Faraday Future. And he was the chief engineer of General Motors' EV1, arguably the first mass-produced...
Eric C. Evarts -
GM plans to announce a major shift in manufacturing that could benefit electric cars. Chevrolet introduced a concept electric drag racer. Charging networks join forces. And Faraday Future loses a key executive in financing turmoil. All this and more on Green Car Reports. Multiple sources indicate that GM plans a big shift in its manufacturing plans that could benefit its lineup of plug-in cars. The announcement is expected late Wednesday morning, and we'll keep readers updated when we know more. Meanwhile at the Specialty Equipment Manufacturers' Association show in Las Vegas, Chevrolet...
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Does Faraday have a Future? Latest financing disrupted—again
Faraday's Future has hit another snag, in a dispute with the company's latest investors. The development of the luxury electric Faraday Future FF91, has been a roller-coaster ride of winning financing, running into disputes, delaying the car, and finding new investors. DON'T MISS: Faraday Future...
Eric C. Evarts -
Faraday Future factory completes its first full car (Updated)
The Faraday Future factory is up and running. It produced its first complete pre-production electric car on Tuesday, after building its first production body late last month. A company memo leaked to Green Car Reports reveals that Faraday plans a party to celebrate the milestone at its assembly...
Eric C. Evarts -
Faraday Future promised $1.5 billion, says FF 91 will arrive by end of this year
Starting a car company is not only very, very hard—as Tesla, Fisker, and many others testify—but requires breathtaking sums of money. Now struggling Faraday Future, the electric-car startup firm whose entrepreneurial Chinese backer is facing legal action in his home country, appears to...
John Voelcker -
Faraday Future, primary investor crushed by mounting debt, lawsuits
Struggling Faraday Future and its founding investor Jia Yueting are facing financial and legal woes that threaten the company's existence. Jia specifically has been placed on an official list of debt defaulters on a website run by the Chinese government after the LeEco founder failed to follow a...
Mark Stevenson -
Jaguar Land Rover owner denies stake in electric-car maker Faraday Future: updated report
Most reports on startup electric-car maker Faraday Future tend to describe it as "struggling," and that may be an understatement. It halted work at its Nevada-based production facility in 2016; the startup company's main backer, China's LeEco, acknowledged this past May it was experiencing...
Sean Szymkowski