High Tech > Electriccar

Faraday Future comes crawling back to its main investor

2 monthes ago   |   By Engadget

Faraday Future is ending its very tumultuous year on a positive note... in a manner of speaking. The electric car startup has reached a restructuring deal with its main investor, Evergrande Health's Season Smart, that will put legal battles in the pa...
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Faraday Future gets a lifeline as it settles months-long battle with Chinese investor

Faraday Future gets a lifeline as it settles months-long battle with Chinese investor

2 monthes ago   |   By The Verge

The war between electric car startup Faraday Future and its main investor, Chinese real estate conglomerate Evergrande, appears to be over. Evergrande announced on Monday that it has agreed to restructure its $2 billion investment in Faraday Future. The conglomerate will walk away with full control over Faraday Future's efforts in China, and both sides will drop all ongoing litigation against each other, according to a release posted to the Hong Kong Stock Exchange .
Faraday Future will receive a bridge loan from Evergrande to “overcome cash flow difficulties,” spokesperson John Schilling...
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