The war between EV startup Faraday Future (FF) and its main investor Evergrande appears to be over after the two companies reached a restructuring agreement on Dec. 31.
It seems the uphill battle for funding of Jia Yueting, founder of Faraday Future (FF), will only be getting steeper. On Dec. 13, a federal judge announced to temporarily freeze Jia’s 33 percent stake in the Gardena-based electric car startup, and put a protective order on his three high-end homes in Rancho Palos Verdes.
“EVAIO has made contact with Faraday Future to invest 900 million USD over three years via indirect STO. FF and EVAIO will now start up the discussion for the details of the plan,” posted Patrick De Potter, CEO of a blockchain startup named EVAIO, on Nov.13.
Faraday Future (FF), the electric car start-up aiming to challenge Tesla, held an “Evolution Strategy Communication Meeting” at the Los Angeles headquarters on Nov. 12.
The Chinese-invested and US-based electric vehicle producer Faraday Future (FF) is said to have laid off more than half of their employees and cut salaries for the ones remaining, due to cash flow problems that arise from its dispute with its main investor Evergrande Health.
Faraday Future (FF) announced the completion of the first pre-production of FF 91, the company’s first production vehicle and flagship model.
Evergrande Health Industry Group Ltd. announced on August 14th that Faraday Future, a U.S. electric vehicle startup, has set up its operating headquarters in China and plans to build five R&D and production facilities across the country in the next decade.
Faraday Future (FF) announced on July 30 (PDT) the completion of its first body-in-white FF 91 electric vehicle (EV) in its Hanford assembly plant in Los Angeles.
Faraday Future (FF), the California-based electrical vehicle start-up, confirmed on July 15 that Xia Haijun, CEO of Evergrande Group, has assumed the post of FF’s chairman. Jia Yueting, the founder of FF, continues in his role as the global CEO.
Here is this week’s roundup of China tech and innovation stories.
Evergrande Group, a Shenzhen-based Chinese real estate giant, has acquired 100 percent shares of Season Smart Limited for HKD 6.746 billion($860 million), becoming the British company’s largest shareholder.
Faraday Future, an American electric vehicle startup known as FF, issued a letter to staff today to celebrate its fourth anniversary and provide an update on the company’s progress.
LeEco founder Jia Yueting is welcoming his second white knight after investments by Sun Hongbin, billionaire real estate developer and the founder and chairman of Sunac China Holdings. This white knight came with 300 million U.S. dollars in hand.
YT Jia’s car manufacturing business has made new progress. Faraday Future, an electric vehicle startup backed by LeEco founder YT Jia, announced the opening of its factory in Hanford, California. Photos revealed that the factory is already operating with some personnel and mechanical equipment.