Electric vehicle startup Faraday Future is ramping up efforts to launch its fully electric vehicles in China and seeking a new round of financing, according to multiple reports.
Faraday Future announced on January 8 that its FF91 model completed a 250-mile long-distance road test at the Consumer Electronics Show (CES), held annually in Las Vegas.
After a record-setting 2018 that saw Chinese VCs ladle out cash to startups at mind-boggling valuations, current numbers spooked global investors, some of whom regard the diminished numbers as a sign of an imminent industry debacle.
Breitfeld has already launched plans to enter China. He revealed that the purpose of his visit to Beijing was to find potential partners in China and establish joint ventures.
On November 25, a meeting was held regarding Faraday Future (FF) founder Jia Yueting’s debt at the FF headquarters in Los Angeles, California.
On November 25, Faraday Future headquarters will hold a creditors meeting to discuss the bankruptcy reorganization proposal put forth by the former CEO of the company, Jia Yueting.
Carsten Breitfeld, who led the development of the BMW i8 plug-in hybrid, landed the CEO role at Faraday Future (FF) two months ago.
Jia Yueting recently sent a letter to more than 100 creditors to assure them of his convictions to pay back all debts accumulated from his founding company, Leshi Holding Group
On October 14, reporters from Chinese media 21Tech met with the new global CEO, Carsten Breitfeld, in FF's Beijing office to discuss his vision for the company and Jia Yueting's bankruptcy announcement.
Faraday Future announced that in order to solve the problem of personal debt, the founder and CPUO of the company, Jia Yuetin, applied for personal bankruptcy restructuring (Chapter 11) in the United States.
On October 11, an insider close to Faraday Future founder Jia Yueting’s creditors revealed that they had received documents indicating that Jia was looking to file for bankruptcy in the United States.
On September 19, 2019, in Los Angeles, Faraday Future (FF) officially announced the latest equity financing, IPO, and FF 91 delivery strategy at the 2019 "919 Futurist Day" event.
Jia Yueting, founder of the troubled EV start-up Faraday Future (FF), stood down as the company’s CEO on September 3, confirming recent rumours. Carsten Breitfeld, who previously helped BMW launch their i8 hybrid sports car as well as had a hand in founding another EV startup Byton will fill the vacancy.
Faraday Future (FF) has added another chapter to its tumultuous history, as the company is rumored to be restructuring its organization and CEO Jia Yueting will step down as the firm’s leader.
American EV-startup Faraday Future has fired a number of employees who have been on unpaid leave for months.