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Found 16 results

  1. Towards the end of last year, the fate of Faraday Future looked to be bleak. Their main investor, Chinese company Evergrande Health Industry Group filed a complaint with the Hong Kong Stock Exchange that claimed Faraday tried to cancel a deal to sell a 45 percent stake to them. Evergrande claimed the company didn't meet various milestones to get the full $2 billion it had agreed to in the summer. But Faraday fought back, saying that Evergrade didn't cough up the cash. This would only signal the beginning of various issues. Throughout October, reports started to emerge that Faraday started
  2. Towards the end of last year, the fate of Faraday Future looked to be bleak. Their main investor, Chinese company Evergrande Health Industry Group filed a complaint with the Hong Kong Stock Exchange that claimed Faraday tried to cancel a deal to sell a 45 percent stake to them. Evergrande claimed the company didn't meet various milestones to get the full $2 billion it had agreed to in the summer. But Faraday fought back, saying that Evergrade didn't cough up the cash. This would only signal the beginning of various issues. Throughout October, reports started to emerge that Faraday started
  3. The future of Faraday Future is becoming dimmer. The Verge reported yesterday that the automaker has decided to shut down some operations this week at their headquarters in Gardena, California, and at its factory in Hanford, California. Workers who started after May 1st of this year “must take a furlough,” according to an email sent by FF CEO Jia Yueting. Those working before "will have the option to remain on board with a reduced salary of $50,000 per year," employees told The Verge. Yueting said the furlough will last at least through December, and is dependent on finding new funding. “
  4. The future of Faraday Future is becoming dimmer. The Verge reported yesterday that the automaker has decided to shut down some operations this week at their headquarters in Gardena, California, and at its factory in Hanford, California. Workers who started after May 1st of this year “must take a furlough,” according to an email sent by FF CEO Jia Yueting. Those working before "will have the option to remain on board with a reduced salary of $50,000 per year," employees told The Verge. Yueting said the furlough will last at least through December, and is dependent on finding new funding. “
  5. The bad news keeps hitting Faraday Future. Earlier this month, we reported on the fight between the automaker and its latest backer, Evergrande Health Industry Group. Faraday claims that Evergrande failed to provide additional funds as part of an investment deal. Evergrande has denied this claim and has brought in lawyers to fight this charge. But this row has caused the electric car start-up to make some difficult decisions. The Verge obtained an email sent to Faraday Future staff on Sunday night, announcing that staff salaries would be cut by 20 percent, and laying off some workers. The
  6. The bad news keeps hitting Faraday Future. Earlier this month, we reported on the fight between the automaker and its latest backer, Evergrande Health Industry Group. Faraday claims that Evergrande failed to provide additional funds as part of an investment deal. Evergrande has denied this claim and has brought in lawyers to fight this charge. But this row has caused the electric car start-up to make some difficult decisions. The Verge obtained an email sent to Faraday Future staff on Sunday night, announcing that staff salaries would be cut by 20 percent, and laying off some workers. The
  7. On the surface, Faraday Future appears to been having a run of good luck. It had gotten a major investment from healthcare division of Chinese real estate group Evergrande; testing is continuing on their first EV, the FF 91; and the company has started building pre-production vehicles at its US plant. But trouble always seems to be looming and it has struck once again for the start-up automaker. Yesterday, Reuters reported on a filing made by Evergrande Health for the Hong Kong stock exchange accusing Faraday Future of trying to cancel a deal to sell a 45 percent stake to Evergrande. Back
  8. On the surface, Faraday Future appears to been having a run of good luck. It had gotten a major investment from healthcare division of Chinese real estate group Evergrande; testing is continuing on their first EV, the FF 91; and the company has started building pre-production vehicles at its US plant. But trouble always seems to be looming and it has struck once again for the start-up automaker. Yesterday, Reuters reported on a filing made by Evergrande Health for the Hong Kong stock exchange accusing Faraday Future of trying to cancel a deal to sell a 45 percent stake to Evergrande. Back
  9. Last month, electric vehicle start-up Faraday Future halted construction on their $1 billion production facility in North Las Vegas. At the time, FF said they would be looking into purchasing or leasing a production facility in either California or Nevada to get production of the FF 91 up and running. Today, Faraday has announced they have leased a factory in Hanford, California - about 200 miles north of their headquarters in Los Angeles. The facility is million-square-feet and the company is planning on employing close 1,300 people once production is up and running. “Our new producti
  10. Last month, electric vehicle start-up Faraday Future halted construction on their $1 billion production facility in North Las Vegas. At the time, FF said they would be looking into purchasing or leasing a production facility in either California or Nevada to get production of the FF 91 up and running. Today, Faraday has announced they have leased a factory in Hanford, California - about 200 miles north of their headquarters in Los Angeles. The facility is million-square-feet and the company is planning on employing close 1,300 people once production is up and running. “Our new producti
  11. The comedy of errors that is electric car startup Faraday Future continues. According to the Las Vegas Review-Journal, Faraday Future has stopped construction on its $1 billion production facility in North Las Vegas. The company in a statement the decision came down to a changing business strategy. “We have decided to put a hold on our factory at the Apex site in North Las Vegas. We remain committed to the Apex site in Las Vegas for long-term vehicle manufacturing.” Faraday goes on to say they are looking into purchasing an existing building either in California or Nevada. This would
  12. The comedy of errors that is electric car startup Faraday Future continues. According to the Las Vegas Review-Journal, Faraday Future has stopped construction on its $1 billion production facility in North Las Vegas. The company in a statement the decision came down to a changing business strategy. “We have decided to put a hold on our factory at the Apex site in North Las Vegas. We remain committed to the Apex site in Las Vegas for long-term vehicle manufacturing.” Faraday goes on to say they are looking into purchasing an existing building either in California or Nevada. This would
  13. G. David Felt - Staff Writer Alternative Energy - www.cheersandgears.com Faraday Future's FF91 really a Tesla X competitor, not Tesla S? Story broke on electrek web site about the FF91 in a comparison to the Tesla X ev CUV. Facts of the matter is the FF91 seems to really be in size and shape more of a competitor to the Tesla X than the Tesla S which Faraday compared it to when they first revealed the EV. Comparison Specs Length FF91 - 206.7" long Tesla X - 198.3" long Height FF91 - 62" tall Tesla X - 65" tall Width - both are 89" Bat
  14. G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com Faraday Future Reveal at CES Faraday has been emailing me daily the last few days about their big reveal at CES tomorrow Jan 3rd. Here is their latest email about their new auto. I have to say that this back lit image reminds me of the car in Demolition Man. Exciting times for EV's this year!
  15. G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com Faraday Future Teaser, Pre-order, Reveal and More! Faraday Future emailed out yesterday Dec 6th 2016 confirming that they will at the Jan 5th - 8th CES show in Las Vegas reveal their production ready EV auto. They have also tweeted this and posted to their web site pictures and video's. Interesting is the pictures from Autoblog where you can see their first EV will be more CUV style I think than car. Better yet is that they are clearly using Tesla as a Bench mark.
  16. G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com Faraday Future and Lucid Motors, Newest EV Automakers in America! Tesla as well as the Detroit, European and Asian auto companies have new competition. Tesla has seen in the last few years, engineers leave that had alternative dreams / plans that conflicted with Musk. As such this fall 2016 we are seeing coming out of the skunk works mode two new EV auto companies based in California is Farady Future who is already big in F1 E-Racing with over 1,400 employees world wide and Lucid Motors. Both companies hav

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