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Faraday Future furloughs hundreds more employees
Electric vehicle startup Faraday Future is planning to furlough hundreds of its employees as a result of an ongoing dispute with the company's primary investor. The latest round of cuts, which will affect at least 250 employees, follows significant cut backs made by the company earlier this year.
Faraday Future confirms layoffs and wage cuts as struggles continue
The future of Faraday Future is starting to look bleak. The electric car startup has laid off part of its workforce and is slashed the wages of its employees by 20 percent, as first reported by The Verge and confirmed in a statement from a company spokesperson. The move comes as the company is in the middle of a standoff with the company's primary investor.
Faraday abandons its proposed $1 billion Nevada factory
It's starting to seem like Faraday Future is capable of just about anything that isn't related to the business side of being an automaker. The company's plans for a $1-billion Las Vegas production facility had been delayed before, but now the plant has been scrapped wholesale. The Nevada Independent reports that Faraday will now attempt to build something smaller than the initial 13,000-job factory thanks to hundreds of billions in frozen funds from parent company LeEco.
Faraday Future sued over missed payments on $2 million VR video (update)
Faraday Future may have had a new car to show off at CES earlier this month, but everyone's left Las Vegas and old problems are cropping up. Now, the company is being sued by a video effects company for failure to pay for a virtual fly-through of one of its concept vehicles. Last September The Mill gave Faraday an estimate for how much it'd cost to produce a "graphic presentation with virtual reality, augmented reality and holographic components" for January's trade show, according to court documents obtained by Jalopnik.
Faraday Future impressed all the right people at CES
The world got its first look at the Faraday Future FF 91 SUV during a Las Vegas drag race last week. It was a fitting debut for a car that was designed and built in less than two years: It flew off the line in an event building, only to disappear out of sight a moment later. Everyone likes a good race, but for a company that's recently been hit by financial troubles and departing executives, the race it started at CES needs to be a marathon.
A whirlwind tour of Faraday Future's ambitious new SUV
"Just a quick reminder that there are no pictures during today's tour." Faraday Future has had its share of bad press. Right before Christmas it invited a group of journalists to tour its headquarters in Gardena, California. The new company was unveiling its first real car at CES in a few weeks. But instead of wowing the world with its nonstop teaser videos, the company's shedding of executives and reports about its financial turmoil drew the most attention. Faraday needed to make a big impression ahead of CES while also ensuring that the technology-drenched FF 91 SUV and the secret sauce behind it were kept under wraps until its big press conference, scheduled for Jan. 3rd in Las Vegas.
