Faraday Future announced last week that it hired Byton co-founder Carsten Breitfeld as its global CEO, replacing the company’s controversial founder, Jia Yueting. Jia ran into conflict with investors after a separate e-commerce company he owned in China, LeEco, allegedly defaulted on debts and failed to return to China to pay them when the... New Faraday Future CEO co-founded Byton and led the BMW i8 program
Faraday Future announced last week that it hired Byton co-founder Carsten Breitfeld as its global CEO, replacing the company’s controversial founder, Jia Yueting. Jia ran into conflict with investors after a separate e-commerce company he owned in China, LeEco, allegedly defaulted on debts and failed to return to China to pay them when the...
On-again, off-again electric-car startup Faraday may have a future after all. The company announced two new rounds of financing Monday, a $1.25 billion stock sale expected to be completed by the end of the year, and a $225 million bridge loan to make it to the end of the year. In a statement, Faraday Future said the money will pay for the...
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 Reports. An update to Tesla's Navigate on...
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 what that vehicle, to be produced as soon as next...
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 still use gasoline. And Faraday Future gets another...
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...
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 criticism from President Trump for idling five...
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 dispute with Faraday Future, Hong Kong investment...
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 to what was Saab, and continues building electric...
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 agreement with its main investor. Toyota reveals its first...
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 machinations in the Faraday Future saga. All this and...
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 much smaller factory in California, produced...
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 Green Car Reports. Volkswagen chief executive...
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 have turned to Go Fund Me to raise $50,000 to keep...
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...