March 28, 2024

Web and Technology News

Despite EV delivery delays, Faraday Future raises $90M to stay afloat

Faraday Future has managed to raise $90 million from existing investors to help it get its much-delayed FF 91 luxury electric SUV to production and delivery. Faraday’s investors will also accelerate an existing commitment of $15 million, the EV company said Tuesday. Faraday is one of a litany of EV SPACs — EV startups that […]

Despite EV delivery delays, Faraday Future raises $90M to stay afloat by Rebecca Bellan originally published on TechCrunch

Faraday Future is adding generative AI to its vaporware EV

Faraday Future is nearly out of cash and its long-delayed EV has yet to land in customers’ hands, which means this is the perfect time for the publicly-traded company to jump head first into the AI hype machine. Faraday Future said Tuesday it is adding generative AI to its first production car, the FF 91 […]

Faraday Future is adding generative AI to its vaporware EV by Kirsten Korosec originally published on TechCrunch

Faraday Future on track to start production of FF 91 this month if funds come through

Faraday Future said Wednesday it plans to start production of its all-electric FF 91 Futurist SUV at the end of March after years of delay, lack of capital and internal drama that threatened the company’s existence. Faraday Future had previously indicated that production would start in March, but had yet to select a date. There […]

Faraday Future on track to start production of FF 91 this month if funds come through by Kirsten Korosec originally published on TechCrunch

EV SPAC Faraday Future ousts its CEO

Faraday Future, the troubled EV startup-turned-publicly-traded company has shuffled its executive ranks once again. The board fired its CEO Carsten Breitfeld, according to a regulatory filing posted Monday after the markets closed. Brietfeld, who was the former co-founder of failed EV startup Byton, took the leadership role at Faraday Future in September 2019. The board […]

EV SPAC Faraday Future ousts its CEO by Kirsten Korosec originally published on TechCrunch

Faraday Future warns it may not be able to deliver its luxury EV

Electric vehicle startup-gone-SPAC Faraday Future has raised a going concern warning, per regulatory filings. The company said it has substantial doubt as to whether it would be able to continue operating over the next year, adding that it is uncertain when it will dispatch first deliveries of its FF 91 luxury EVs. This isn’t the […]

Faraday Future warns it may not be able to deliver its luxury EV by Rebecca Bellan originally published on TechCrunch

Faraday Future gets a lifeline to raise up to $350 million

Moribund EV startup Faraday Future could receive up to a $350 million lifeline to help launch its first vehicle, according to a regulatory filing. The company said Monday it has signed a deal with an affiliate of Yorkville Advisors Global for an equity line of credit up to $350 million. The financing, which entails an […]

Faraday Future gets a lifeline to raise up to $350 million by Jaclyn Trop originally published on TechCrunch

Faraday Future demotes founder as management shakeup continues

Faraday Future, the troubled EV startup turned publicly traded company, has taken more disciplinary action as part of its now concluded internal investigation, including removing founder and former CEO Jia Yueting as an executive officer. The company said in a securities filing Thursday that Yueting Jia, or YT, will continue in his position as chief […]

Faraday Future demotes founder as management shakeup continues

Faraday Future, the troubled EV startup turned publicly traded company, has taken more disciplinary action as part of its now concluded internal investigation, including removing founder and former CEO Jia Yueting as an executive officer. The company said in a securities filing Thursday that Yueting Jia, or YT, will continue in his position as chief […]

SEC investigates Faraday Future as regulatory crackdown on EV SPACs continues

Several executives at EV company Faraday Future have been subpoenaed by the U.S. Securities and Exchange Commission as part of an investigation into inaccurate statements made to investors, according to a securities filing issued Thursday. The subpoena comes nearly two months after Faraday Future’s internal investigation determined employees made inaccurate statements to investors and that […]