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Tata Motors Denies Faraday Future Investment 16
Nov
Posted by Brad Anderson in Electric Vehicles, Faraday Future, Reports, Tata on 11 16th, 2017


Hot on the heels of reports from China claiming that Tata Motors had invested $900 million in Faraday Future for a 10 per cent stake in the electric startup, a Tata spokesperson has completely denied any investment.

DNA India reached out to Tata about the Faraday Future investment and were told, “The news is not true and hence we do not have any comment.”

It was initially reported that the investment would provide Tata Motors and Jaguar Land Rover with access to the advanced technologies created by Faraday Future, including connectivity systems it’s developed with Chinese backer LeEco.

The Tata investment would have come at a particularly tumultuous time for the electric startup promising to take on Tesla. Not only have a host of high-ranking executives left Faraday Future in recent weeks, but the company has tried and failed to attract any substantial investments.

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Faraday Future Reportedly Receives $900 Million From Tata 14
Nov
Posted by Brad Anderson in Electric Vehicles, Faraday Future, Reports, Tata on 11 14th, 2017


After months of turmoil, it appears as though electric car startup Faraday Future has caught a huge break following a healthy investment from Tata Motors.

Chinese media outlet Gasgoo claims that the carmaker has attracted $900 million in funding from Tata Motors for a 10 per cent stake in the company, essentially valuing it at $9 billion.

While neither firm has commented on the reports, such an investment could prove fruitful for both carmakers. Not only could such a substantial chunk of money keep Faraday Future above water, it could also give Tata access to many of FF’s advanced technologies, including connectivity systems it has developed with Chinese backer LeEco.

Just a couple of days after unveiling its first proposed production model, the FF 91, Faraday claimed it had received over 64,000 reservations but failed to reveal how many of those orders included the optional $5,000 refundable deposit.

Yesterday, reports surfaced that the startup has lost five key executives in recent weeks.

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Faraday Future Loses Five Senior Executives 13
Nov
Posted by Brad Anderson in Electric Vehicles, Faraday Future, Reports, Tech on 11 13th, 2017


Just when you thought things couldn’t get any worse for troubled startup Faraday Future, it has been revealed that five senior executives have left, or are leaving, the company.

Jalopnik revealed in October that the company’s director of interior design and brand, Pontus Fontaeus, recently left the firm. Just a couple of days prior, Faraday’s head of supply chain management, Tom Wessner, resigned. Three more scalps have been added to that list.

The startup has revealed that its chief financial officer, Stefan Krause, resigned on October 14 but no reason for his decision has been made public.

Krause, a former executive at both BMW and Deutsche Bank, joined Faraday Future in March in a bid to court investors and raise money for the company’s ambitious production plans and its first model, the FF 91. The startup failed to secure any major funding because Chinese billionaire backer Jia Yueting refused to release his grasp on the company.

As if things couldn’t get any worse, two other executives are said to be on their way out, The Verge reports. The first, chief technology officer Ulrich Kranz, formerly of BMW, is allegedly leaving or has already left the company. What’s more, former Ford Fusion program leader Bill Strickland is said to be on his way out.

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Nevada Officially Ends Relationship With Faraday Future 22
Sep
Posted by Brad Anderson in Electric Vehicles, Faraday Future, Reports on 09 22nd, 2017


The State of Nevada's relationship with troubled electric car start-up Faraday Future has been severed.
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Faraday Future Could Drop Out Of Formula E To Save Cash 16
Aug
Posted by Michael Gauthier in Electric Vehicles, Faraday Future, Formula E, Motorsport, Reports on 08 16th, 2017


Faraday Future has been facing its fair share of struggles and the latest news continues to paint a pretty bleak picture.
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Watch Faraday Future’s Troubled Yet Record Breaking Pikes Peak Run 8
Aug
Posted by Brad Anderson in Electric Vehicles, Faraday Future, Faraday Future Concepts, Motorsport, Pikes Peak, racing, Tech, video on 08 8th, 2017


In June, Faraday Future set a production electric vehicle record up the Pikes Peak International Hill Climb with a respectable 11:25.083 time.
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Faraday Future Leases A New Production Site In California 7
Aug
Posted by Michael Gauthier in Electric Vehicles, Faraday Future on 08 7th, 2017


Following a disastrous attempt to build a new production facility in Nevada, Faraday Future has signed a lease on a plant in Hanford, California.
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AM General Wants To Work With Startup EV Companies 2
Aug
Posted by Michael Karkafiris in Daimler, Electric Vehicles, Faraday Future, Lucid, Reports on 08 2nd, 2017


AM General is targeting a collaboration with startup EV companies, now that its most recent product is about to be out of production.
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Faraday Future Hires BMW i’s Head Ulrich Kranz As Chief Technology Officer 18
Jul
Posted by Michael Karkafiris in BMW, BMW i, Electric Vehicles, Faraday Future, Reports on 07 18th, 2017


Despite the well-documented troubles Faraday Future is in, they were still able to attract another high-profile executive, this time from BMW.
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Faraday Future Halts Work On $1 Billion Nevada Factory 11
Jul
Posted by Brad Anderson in Electric Vehicles, Faraday Future, Reports on 07 11th, 2017


Faraday Future has announced that construction at its $1 billion factory in Nevada has been put on hold, shortly after we learnt about the financial issues of Jia Yueting, the billionaire businessman backing the electric automaker.
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Chinese Court Freezes $182 Million From Faraday Future Backer 7
Jul
Posted by Brad Anderson in china, Electric Vehicles, Faraday Future, LeEco, Reports on 07 7th, 2017


A court in China has frozen $182 million in assets of Jia Yueting, the billionaire founder of LeEco and the major backer of U.S. electric car startup Faraday Future.
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Watch The Faraday Future FF 91 Run Pikes Peak In 11 Min 25 Sec 30
Jun
Posted by Brad Anderson in Electric Vehicles, Faraday Future, Motorsport, Pikes Peak, racing, video on 06 30th, 2017


Sticking to its promise, Faraday Future took a prototype of its FF 91 electric car to the Pikes Peak International Hill Climb and rather surprisingly, managed to deliver an impressive time.
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Faraday Future FF 91 To Compete In The Pikes Peak International Hill Climb 5
Jun
Posted by Michael Gauthier in Electric Vehicles, Faraday Future, Pikes Peak on 06 5th, 2017


Faraday Future continues to face an uphill battle to get the FF 91 on the road next year but the company has reaffirmed its commitment to compete in the Pikes Peak International Hill Climb.
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LeEco Has Its Back Against The Wall, May Ditch EV Project In US 26
May
Posted by Michael Karkafiris in china, Electric Vehicles, Faraday Future, LeEco, Reports on 05 26th, 2017


LeEco’s financial woes are well documented so far and the time is approaching for the Chinese giant to make a decision whether they should drop their EV project in the US completely or not.
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Faraday Future Says LeEco Jobs Cuts Won’t Affect It 26
May
Posted by Brad Anderson in Electric Vehicles, Faraday Future, LeEco, Reports on 05 26th, 2017


On Tuesday, the main financial backer of Faraday Future, Chinese company LeEco, slashed its U.S. workforce by 70 per cent. Despite these significant cuts, FF claims that it is unaffected by the layoffs and LeEco’s restructuring.
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