High Tech > Electriccar

Faraday Future may have received a $1.5 billion lifeline

8 days ago   |   By Engadget

To say Faraday Future has had a rough time would be an understatement between its financial crisis, executive exodus and CEO troubles. However, things might be looking up for the electric car maker. A Business Insider source has claimed that an un...
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Flush with new cash, embattled electric-car startup Faraday Future hopes to turn the page on a rough 2 years

Flush with new cash, embattled electric-car startup Faraday Future hopes to turn the page on a rough 2 years

8 days ago   |   By Business Insider

The long-suffering electric-car outfit Faraday Future hopes to turn the page on what has been a rough couple of years for the company.
A new, Hong Kong-based investor has promised a $1.5 billion infusion - $550 million of which is already in the bank, a source familiar with the company's business dealings told Business Insider.
The company says it plans to recharge its operations, beginning with a supplier summit at its Los Angeles-area headquarters Tuesday and Wednesday. Bosch, LG Chem, Fuji Technical & Miyazu, and Velodyne are among the suppliers in attendance.
Lingering challenges are...
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