The future of the Faraday Future is questionable again!

The future of the Faraday Future is questionable again!

October 9, 2018 0 By autotimesnews

Electric cars are a modern trend of startups, and the company Faraday Future is known to us for its loud and ambitious plans, as well as for a series of failures and their solutions. Now companies are again threatened with problems that could lead to final bankruptcy.

A few years ago, Faraday Future announced its own electric car, which has incredible technical characteristics. The flagship model FF 91 should have a capacity in the region of 700-1000 horsepower, with a power reserve of more than 600 km.

At the moment, the company is in constant “stress” state. At the beginning of the summer, its existence was in doubt, but last summer an investor was represented by the Evergrande Health Group, which was about to invest about $ 2 billion and become the owner of 45% of the shares. And now it would be worthwhile for FF to make every effort to fulfill the promise and release the production version of the electric vehicle by the beginning of 2019, but new circumstances appeared.

The most basic is the loss of trust and suspicions of fraud. As it turned out, the investment group has already provided FF with the first transaction in the amount of $ 800 million. The rest was to be paid in 2019-2020, but the startup demanded (asked) investors to provide another payment of 700 million ahead of time, on special conditions that were not disclosed.

According to the Evergrande Health Group, the conditions for making one more investment were not met, and Faraday Future, in turn, refused to sell the stake. And they began to accuse the Hong Kong company of raiding and breach of contract.

The most “piquant” in the mutual accusations – are rumors that allegedly withdrawn $ 800 million in offshore accounts owned by director Jia Yuetin.

In addition, a number of suppliers for FF complain about debts, as well as constant excuses and “breakfasts”. According to preliminary information, the debt to suppliers is about $ 100 million.

Will we see the serial FF 91 – under a big question.