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Faraday Future FF 91

Faraday Future FF 91

Faraday Future has officially joined "potential investors from around the world. "The electric car startup said it has begun to explore strategic options," said a Thursday Reuters Report and hopes to attract new investors. Options include debt and equity financing.

This year was an up and down for the young electric car maker. After the Chinese conglomerate Evergrande Health Industry Group Ltd. had received an investment contract in the amount of two billion US dollars, the company built its first bodybuilder and first pre-production vehicle with FF91. After the first pre-production car Faraday Future and Evergrande Health Arbitration about a financing dispute. A court ruling in China last month said Evergrande Health can not fight back as the company seeks new investments.

It is now unclear whether Faraday Future will receive the remainder of the $ 2 billion investment. Evergrande reportedly did not pay the electric car startup $ 700 million.

The demand for new investments was also just two days after Nick Sampson, co-founder of the company and senior vice president of product development, development and development, resigned from his role, Sampson was the second of three co-founders of Faraday Future who left the company. Only CEO Jia Yueting is preserved.

While Faraday Future is sorting out its finances, the company has issued the order Wage cuts and plans for layoffs, Senior executives have voluntarily slashed salaries by more than 20 percent, while other employees are forced to cut by 20 percent. CEO Yueting decided to spend $ 1 annually as CEO. It is not clear how many employees the company wants to dismiss and from which departments they will come.

So far, no potential investors have publicly taken a step forward to get Faraday Future back on track, but the latest developments are likely to put the production schedule of the FF91 back. The company announced earlier this year that delivery of the first electric car with customers will begin in the first half of 2019. This goal now seems to be in danger.

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