Did they? I saw that they said they hope to have the FF91 on the road by the end of next year. But I think having the factory ready by early 2018 would be difficult considering that they don't get to fully take possession of it until November, 2017.
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Fun Faraday Future article
- Thread starter JeffK
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Did they? I saw that they said they hope to have the FF91 on the road by the end of next year. But I think having the factory ready by early 2018 would be difficult considering that they don't get to fully take possession of it until November, 2017.
That part confused me. What I read sounded like they wouldn't start paying the lease until the factory was ready to start production. I guess when they take possession, they still won't be paying a lease?
FutureShock
Best Coast Denizen
What's the over/under on Faraday ever even releasing a production car, period? 
Maybe they should go for a public IPO asap and hope there's still a few suckers out there.
But that would probably only delay the inevitable. Might even accelerate it, if it flopped hard enough.
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Maybe they should go for a public IPO asap and hope there's still a few suckers out there.
But that would probably only delay the inevitable. Might even accelerate it, if it flopped hard enough.
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mspohr
Well-Known Member
It's a shame. The world needs more electric car companies. Sounds like they had good people but ran ahead of the money.
The world needs electric car companies that sell to the masses, not $120k-200k Lux items like FF was trying to build.
Nissan, Tata or BYD are the ones who might lead the mass consumer levels. I am talking about $20,000 units with 180-200 mile range. Maybe Toyota with a "Scion-like EV presence". So many people rely on cheap used or cheap new cars - at the $18-20k price point. How many people in their younger years were buying luxury vehicles? But how many young people today who are interested in green solutions and sustainability - how many can afford new models of the current Plug ins? Only the smartest graduated engineers and software kids who have solid jobs. Otherwise, we have the used-car market serving them, potentially, with used Volts, Leafs and so on. I don't see GM or Ford really capitalizing unless they also can produce a vast network of good charging infrastructure so that lower-range BEVs that they may make can reliably re-charge anywhere.
mspohr
Well-Known Member
I believe they are working on LeEco, a small, inexpensive EV.
As for VW, Ford, and GM, the light seems to be dawning. They have announced full lines of EVs and charging infrastructure. It's late... but not too late and we shall see what comes of it.
Zaphod
Galaxy President (former)
Last I heard about LeEco, didn't seem much different than what FF was trying to pull. Some technology packed $100k+ definitely not something small or inexpensive. Unless there was something I missed. Not too bad looking though.
http://lesee.leeco.com/en/
BluestarE3
Active Member
So, now they are blaming the guy they brought in to rescue them from their financial mess for causing or contributing to their ongoing (and worsening) financial mess? YT needs to look in the mirror if he's looking for the culprit.
FlatSix911
Porsche 918 Hybrid
Krause, a former BMW executive, was brought in to help rescue the company earlier this year as it struggled to recover from the fallout of the major financial troubles plaguing its main investor, former LeEco CEO Jia Yueting. As part of his work as both CFO and COO of Faraday Future, Krause helped the company secure a new manufacturing facility when its $1 billion effort in Nevada fell through.
Meanwhile, Krause was preparing a number of options to save the company and its goal of manufacturing an electric vehicle known as the FF91. These options ranged from capital investment, to partial acquisitions of the company’s business, to OEM partnerships, multiple sources with knowledge of the situation told The Verge.
Krause was also preparing one other option, they said: restructuring the company through Chapter 11 bankruptcy.
Yueting supposedly rebuffed this option, too. With all his options exhausted, Krause resigned along with CTO Ulrich Kranz.
BluestarE3
Active Member
Yet another jumps ship: Faraday Future’s chief designer resigns, as some employees stop showing up to work.
BluestarE3
Active Member
So, what's keeping Nick Sampson there? I can understand YT not wanting to admit defeat because the company is his baby, but what's left for Sampson?
FutureShock
Best Coast Denizen
Looks like it's finally game over. How many months 'til they file for Chapter 11? Would think it'll happen in the first half of '018.
The only nice thing about this hot mess is that EV expertise is very in-demand right now, so most of those working at. FF will be able to get a job somewhere else fairly quickly.
Related Fun Fact™: If you Google 'Faraday Future Tesla-killer', about 112,000 results come up. Silly automotive/tech/business press.
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BluestarE3
Active Member
No wonder YT isn't going home:
https://jalopnik.com/china-shames-faraday-future-boss-by-placing-him-on-debt-1821265727
https://jalopnik.com/china-shames-faraday-future-boss-by-placing-him-on-debt-1821265727
mspohr
Well-Known Member
Another relatively long article about Faraday Future's fall at The Verge.
Inside Faraday Future's financial house of cards
Inside Faraday Future's financial house of cards
BluestarE3
Active Member
FF's HR chief resigns and company immediately sends e-mail to employees demanding total loyalty:
Faraday Future’s HR head resigns as cultural rift in the workforce deepens
Another interesting tidbit from the article: the American and Chinese teams at the company clash culturally, going so far as the latter viewing the former as being too concerned with "the law".
Faraday Future’s HR head resigns as cultural rift in the workforce deepens
Another interesting tidbit from the article: the American and Chinese teams at the company clash culturally, going so far as the latter viewing the former as being too concerned with "the law".
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