New Faraday Future CEO co-founded Byton and led the BMW i8 program

Faraday Future FF91Faraday 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...

Report: Faraday Future could soon undergo restructuring, shed CEO

Faraday Future FF91Although the future looks brighter this year for the electric-vehicle hopeful Faraday Future, with a new line of funding revealed in April to help them get through the year and to the long-awaited production of its FF91 electric SUV, a recent report suggests that there may soon be more upheaval to come. The company’s CEO and founder, Jia...

Faraday Future revealed: Company gets funding to produce FF91

Faraday Future completes first pre-production FF91 on August 28, 2018On-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...

Faraday Future joint venture to create electric MPV based on FF91

MPV designed by Faraday Future, for joint venture with The9Last 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...

Tesla service, Faraday Future lifeline, EV sales, Canoo: Today’s Car News

Teaser for Canoo conceptsIn 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...

Faraday Future funder writes its own Saab story

NEVS 9-3 concept, 2017 CES AsiaChinese 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...

With cease-fire agreement, spark flickers toward Faraday’s Future

Faraday Future FF91 prototypeLike 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...

Faraday Future sues investor claiming takeover “plot”

Faraday Future FF 91The 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...

GoFundMe campaign aims to keep Faraday Future employees afloat

Faraday Future FF 91When 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 EV1 exec leaves Faraday Future

Faraday Future completes first pre-production FF91 on August 28, 2018In 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 modern electric car. One anonymous source inside...

Does Faraday have a Future? Latest financing disrupted—again

Faraday Future completes first pre-production FF91 on August 28, 2018Faraday'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 gets a $2 billion lifeline to build expensive...