Another founding executive has left the troubled electric car startup Faraday Future, Jalopnik has learned. Pontus Fontaeus, director of interior design and brand, has left the company, the company confirmed on Friday.
Last winter, Faraday Future came out of nowhere with big promises to upend the auto industry and redefine the entire idea of how we get around. None of that has happened because making cars is hard. Now, a tax deal between the state of Nevada and FF is officially over, and the would-be automaker has handed back all…
Struggling electric car startup Faraday Future entered one of the fastest-growing world championships in racing—Formula E—through a partnership with Dragon Racing last season. Now The Verge reports that the cash-strapped company may have to get out of Formula E to save cash.
Weeks after Faraday Future announced it would halt construction of a $1 billion factory in Nevada, the company said on Monday that it has a new lease on life, after securing a facility in California to continue efforts to build an all-electric autonomous car.
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Here’s one positive blip on the radar for Faraday: The all-electric Formula E racing series heads this weekend to New York City, and ahead of the event, it wasn’t clear if Faraday Future’s money problems would impact the Dragon Racing Team. According to Faraday and the boss of the Formula E team though, that’s not the…
Ambitious but troubled startup automaker Faraday Future said today that it’s officially halting efforts to build a $1 billion factory in Nevada, as its billionaire financier Jia Yueting deals with significant money problems. The move comes just days after Faraday officials told Jalopnik that Jia’s financial woes will…
A Chinese court this week froze $182 million in assets of Jia Yueting, the billionaire founder of tech giant LeEco and main financier of self-driving car start-up Faraday Future. But the company says that Jia’s financial woes will have “no impact” on FF’s daily operations and actually “aligns” with its immediate goal…
Last year, the Tesla Model S P90D shot up the 12.4-mile, 156-turn Pikes Peak International Hill Climb course in well under 12 minutes and set the record for the fastest “production” electric vehicle on the course. But this year, the long-doubted Faraday Future destroyed its time by more than 23 seconds.
Startup automaker Faraday Future hired the best, as it often did, when it needed an audit of its finances to help secure vital fundraising and government loans. But what auditor KPMG—one of the world’s biggest and most well-regarded auditing firms—walked into when it agreed to look at Faraday’s books was a company…
Up front, it’s probably necessary to say that I haven’t considered the financial viability of this for either party, or whether their business plans are even sound. But I think it could benefit both of them: Faraday Future and Uber, two troubled companies facing an uncertain future in different ways. should strike a…
It’s been a shit week for Faraday Future. The autonomous vehicle start up learned its main financier, LeEco, planned to significantly scale back its U.S. operations, signaling a potential death knell for Faraday’s car ambitions. And now Bloomberg is reporting that Faraday is looking to raise a cool $1 billion to keep…
On Tuesday, electric car startup Faraday Future’s main financier—the Chinese tech conglomerate LeEco—announced a significant round of layoffs at its US operations. While that doesn’t seem to bode well for Faraday, the startup’s chief financial officer told staff that LeEco’s cuts won’t affect it, according to Forbes.…
CNBC is reporting that Faraday Future’s main financier, Chinese tech conglomerate LeEco, is expected to lay off as much as 80 percent of its U.S. staff and, citing anonymous sources, “may” continue its investment in the electric autonomous vehicle start-up. That isn’t encouraging.
If you’ve followed the story of Faraday Future, you know the electric autonomous vehicle start-up has dealt with an endless string of financial problems. FF’s main financier, the Chinese tech giant LeEco, has issues of its own, with its CEO Jia Yuenting consistently being questioned over his leadership and financial…
We’re nearly halfway through 2017, and as far as we know, Faraday Future still believes it’s going to restart production on its Nevada factory this year. The company’s dealing with lawsuits about its name, its website, and its alleged inability to pay contractors on time. But it has a production vehicle, the FF 91,…
A couple months back, we had a funny story about a lawsuit filed against Faraday Future for allegedly failing to pay a broker it hired to coordinate a $1.5 million sale of the website ff.com. Faraday, an electric vehicle start-up with known financial struggles, couldn’t even pick a name without landing in court.…
Electric autonomous vehicle start-up (cripe that’s a mouthful) Faraday Future hasn’t had the kind of start to 2017 that it probably expected after debuting its flagship vehicle, the FF 91, at this year’s CES conference. It’s been... rough. But we’ve caught FF 91 prototypes moseying about town in recent weeks, and the…
Like pretty much every other carmaker, Faraday Future tests their pre-production mules out on city roads, where they can be in full view of the public. Two members of the public saw this Faraday Future FF 91 mule out for a drive in Los Angeles (right by Trashy Lingerie, even), and their reaction was one that will make…
Faraday Future increasingly appears to be in a tenuous position, and now it seems the company is starting to realize as much: the San Francisco Chronicle is reporting the troubled start-up has ended talks with the city of Vallejo on a 157-acre site, and instead focus on completing the not-nearly-completed $1 billion…
