faraday future

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.

Electric start-up company, Faraday Future, has signed the lease on a new manufacturing facility in Hanford, California, which will see the production of its upcoming FF 91 EV. In an effort to bring the FF 91 to market by the end of 2018, Faraday Future has been forced to ditch its US$1 billion manufacturing facility in Las Vegas, following recent reports that the company was running into money troubles.

One year after revealing the FFZERO1 concept, Chinese-backed and American-based EV startup Faraday Future has finally revealed its promised first car: the FF 91. The electric startup has been surrounded in recent months by reports of outstanding debts and a shortage of funds, with backer Jia Yueting - founder of China's LeTV empire and, oddly, another EV company in LeEco - admitting to employees in November that the company had overextended itself.

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.

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.