Where's Faraday Future's Billion Factory?



Faraday Future is looking for an emergency lifeline as execs leave

  • Faraday Future said on Thursday it was exploring strategic options, including debt and equity financing, as the last of its founding executives left the company this week.
  • Nick Sampson, the company's one-time research and development chief, stepped down on Tuesday.
  • The electric-car startup is embroiled in a bitter legal fight with its main investor, China's Evergrande Health Industry Group, after a planned billion investment went sour.

(Reuters) - Faraday Future said on Thursday it was exploring strategic options, including debt and equity financing, two days after the Chinese electric vehicle developer's co-founder Nick Sampson stepped down.

The company said it "can now welcome potential investors from around the world."

The move comes as the cash-strapped company, which has ambitions to overtake Tesla, is embroiled in a bitter legal fight with its main investor, China's Evergrande Health Industry Group, after a planned billion investment went sour.

Last week, Faraday Future got relief to seek financing from sources other than Evergrande Health, according to a interim ruling by a Hong Kong arbitration court.

Faraday Future has retained Stifel, Nicolaus & Co. as its financial adviser.






Video: Faraday Future in North Las Vegas on hold

Faraday Future is looking for an emergency lifeline as execs leave
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Date: 14.12.2018, 07:47 / Views: 83271