ff81
Latest
Faraday Future may have received a $1.5 billion lifeline
To say Faraday Future has had a rough time would be an understatement between its financial crisis, executive exodus and CEO troubles. However, things might be looking up for the electric car maker. A Business Insider source has claimed that an unnamed Hong Kong backer has promised a $1.5 billion investment, $550 million of which is "already in the bank." That only goes so far with an automaker, but it's reportedly enough to speed up development of the FF91 and get it on the market by the end of 2018.
Faraday Future is scaling back its EV production plans
The troubles for Faraday Future don't seem to have an end in sight. According to Reuters, the company's making drastic changes to its production roadmap: Rather than building seven electric vehicles in the foreseeable future, as was originally planned, that will shift to only two. But there's more. Faraday Future is reportedly also scaling down its vision for a 3-million-square-foot plant in Nevada, which is now expected to be 650,000 square feet -- quite a downgrade.
