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Faraday Future cutting jobs and salaries - report
News
23rd Oct 2018
2 min read

Faraday Future cutting jobs and salaries - report

Faraday Future appears to be in some strife because of conflict with its main investor, cutting salaries and laying off employees to stay afloat, according to a new report. The Verge says an email was sent to staff over the weekend, detailing a 20 per cent decrease in wages for employees effective next week, with some losing their jobs entirely.
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James Wong
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Tata reportedly buys stake in Faraday Future amid executive departures
News
14th Nov 2017
2 min read

Tata reportedly buys stake in Faraday Future amid executive departures

Tata has reportedly bought a 10 per cent stake in troubled Chinese electric startup Faraday Future. According to Gasgoo, Chinese media outlets are reporting Tata has purchased 10 per cent of Faraday Future for US$900 million ($1.2 billion). If the reports are true, a healthy cash infusion could see the help stabilise the situation at the troubled EV manufacturer, which has undergone an exodus of senior personnel in recent weeks.
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Derek Fung
Faraday Future attempts to line up $1 billion as LeEco parent founders
News
29th May 2017
2 min read

Faraday Future attempts to line up $1 billion as LeEco parent founders

Faraday Future, the ambitious electric vehicle startup, is reportedly seeking a huge injection of funds from external sources, as its Chinese backers run into serious money issues. The company has begun drawing up plans to procure around US$1 billion ($1.3 billion) in outside funding, a source has told Bloomberg.
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Derek Fung
Faraday Future breaks ground at US$1 billion factory in Las Vegas
News
14th Apr 2016
2 min read

Faraday Future breaks ground at US$1 billion factory in Las Vegas

At a ceremony yesterday, Faraday Future broke ground on the site of its US$1 billion ($1.3 billion) factory in North Las Vegas. The startup electric car maker says that, should all its plans come to fruition, the new factory to the north of Sin City will create 4500 direct jobs over the next 10 years. At present the company claims that it has around 700 employees in the USA.
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Derek Fung
Faraday Future reveals plans for North Las Vegas EV production plant
News
14th Dec 2015
1 min read

Faraday Future reveals plans for North Las Vegas EV production plant

Budding Tesla rival Faraday Future has released details of its inaugural US$1 billion ($1.4 billion) manufacturing facility in the west of the US. Faraday Future is planning a 279,000 square metre factory in North Las Vegas, Nevada – the same state as Tesla’s forthcoming battery-building Gigafactory.
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Tim Beissmann
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