cwerdna
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Re: Faraday Future's Big Reveal

Sun May 21, 2017 6:12 pm

LeftieBiker wrote:Unless they made the LeCar (joke) I've never heard of them before this.

They were both pushing LeSEE (https://techcrunch.com/2016/09/20/china ... ports-car/ and https://www.engadget.com/2016/04/20/lee ... car-china/) AND Faraday Future.

They were also trying to buy Vizio before that fell through: https://www.theverge.com/2017/4/10/1524 ... -cancelled.

It seems unlikely either vehicle will ever ship or will ever ship in significant quantities before the company either goes BK or sales and support are dropped.

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cwerdna
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Re: Faraday Future's Big Reveal

Wed May 24, 2017 12:43 am

cwerdna wrote:
LeftieBiker wrote:Unless they made the LeCar (joke) I've never heard of them before this.

They were both pushing LeSEE (https://techcrunch.com/2016/09/20/china ... ports-car/ and https://www.engadget.com/2016/04/20/lee ... car-china/) AND Faraday Future.

They were also trying to buy Vizio before that fell through: https://www.theverge.com/2017/4/10/1524 ... -cancelled.

It seems unlikely either vehicle will ever ship or will ever ship in significant quantities before the company either goes BK or sales and support are dropped.

LeEco cuts 325 U.S. employees, will focus on Chinese-speaking consumers
http://www.cnbc.com/2017/05/23/leeco-la ... umers.html
LeEco confirmed on Tuesday that it will lay off the bulk of its U.S. workforce, as CNBC first reported Monday evening. According to CNET, the company is cutting 325 employees, or 70 percent of its workforce. LeEco did not immediately respond to CNBC's request for comment.

LeEco cuts most of US workforce as it continues its downward spiral
https://www.theverge.com/2017/5/23/1568 ... re-funding

LeEco slashes 325 jobs, layoffs hit San Jose workforce
http://www.mercurynews.com/2017/05/23/l ... workforce/

Besides LeSEE and funding Faraday Future. Someone reminded me they were also helping fund Atieva, now called Lucid Motors.
https://www.recode.net/2016/10/20/13341 ... h-december (from Dec 2016):
Questions, however, remain about Atieva’s ownership and future. Its board and management remain conflicted about the direction of the company. Chinese technology company LeEco has a stake in Atieva, but also controls rival EV startup Faraday Future.

LeEco’s founder Jia Yueting announced today that Faraday Future would be unveiling its first production car at the Consumer Electronics Show in January, and that LeEco itself is moving forward with a semi-autonomous electric car called the LeSee Pro.

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cwerdna
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Re: Faraday Future's Big Reveal

Tue Jul 11, 2017 2:26 am

Faraday Future halts plans for car production at Apex site:
https://www.reviewjournal.com/business/ ... apex-site/

Faraday Future cancels plans for North Las Vegas factory:
http://www.autoblog.com/2017/07/10/fara ... s-factory/

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Re: Faraday Future's Big Reveal

Tue Jul 11, 2017 6:12 am

Faraway Future looks like Never Never Land.

They had quite the hype machine going though.
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cwerdna
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Re: Faraday Future's Big Reveal

Sat Nov 11, 2017 10:28 pm

Faraday Future loses three top executives as manufacturing stalls
https://www.theverge.com/2017/11/10/166 ... mw-trouble

Faraday Future issues bombastic statement accusing former CFO of ‘malfeasance and dereliction of duty’
https://www.theverge.com/2017/11/10/166 ... ting-drama

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cwerdna
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Re: Faraday Future's Big Reveal

Sat Dec 02, 2017 10:51 pm

The Verge: Faraday Future’s chief designer resigns, as some employees stop showing up to work
https://www.theverge.com/2017/12/1/1672 ... esignation

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cwerdna
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Re: Faraday Future's Big Reveal

Sun Aug 19, 2018 4:47 pm

Faraday Future now flush with money pushes for FF91 production, does high-speed tests
https://electrek.co/2018/07/24/faraday- ... eed-tests/

Faraday Future’s Chinese operations are taken over by new investor after CEO’s fall from grace
https://electrek.co/2018/08/15/faraday- ... -ceo-fall/

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GRA
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Re: Faraday Future's Big Reveal

Tue Oct 09, 2018 4:50 pm

Via IEVS:
Faraday Future Reports Problems With Evergrande Health’s Investment
https://insideevs.com/faraday-future-reports-problems-with-evergrande-healths-investment/

Faraday Future seems to have run into a roadblock again, as there are serious problems with the investment from Evergrande Health. Under the deal, Evergrande Health Industry Group Limited (Evergrande Health), a Hong Kong Stock Exchange listed company, was expected to take 45% state for $2 billion (33% would remain in hands of the original shareholders, and 22% belongs to the team at FF.)

Initially, Evergrande Health provided $800 million and Faraday Future moved forward with developments of the FF 91 and preparations for production.

Evergrande Health even agreed to pay another $500 million out of the remaining $1.2 billion earlier than originally expected, but ultimately it put the money transfer on hold and the future again becomes far away uncertain for Faraday.

Faraday Future is now in a difficult situation, because the money is needed, and other investors – that would willing to step-in – are blocked. At least that’s what we understand from FF’s perspective. . . .
Guy [I have lots of experience designing/selling off-grid AE systems, some using EVs but don't own one. Local trips are by foot, bike and/or rapid transit].

The 'best' is the enemy of 'good enough'. Copper shot, not Silver bullets.

GRA
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Re: Faraday Future's Big Reveal

Mon Oct 22, 2018 6:45 pm

Via ABG:
Faraday Future lays off part of its workforce, cuts wages of the rest
EV automakers' contractors are looking to be paid
https://www.autoblog.com/2018/10/22/faraday-future-layoffs-wage-cuts/

The future of Faraday Future is starting to look bleak. The electric car startup has laid off part of its workforce and is slashing the wages of its employees by 20 percent, as first reported by The Verge and confirmed in a statement from a company spokesperson. The move comes as the company is in the middle of a standoff with its primary investor.

Staffers learned of the cuts via a Sunday email from CEO Jia Yueting. The chief executive will be decreasing his salary to $1, and some members of management are taking salary cuts beyond the 20 percent threshold, though that likely won't provide much comfort to the folks in the factory seeing their pay reduced starting next week. . . .

While Faraday Future takes a hatchet to its workforce, the company is also dealing with a number of contractors knocking on its door and demanding pay for back work. It's starting to look like the lights might go out on the electric car maker. . . .
Guy [I have lots of experience designing/selling off-grid AE systems, some using EVs but don't own one. Local trips are by foot, bike and/or rapid transit].

The 'best' is the enemy of 'good enough'. Copper shot, not Silver bullets.

GRA
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Re: Faraday Future's Big Reveal

Tue Oct 30, 2018 4:48 pm

Via IEVS:
Faraday Future’s “Backbone Of The Company” Departs
https://insideevs.com/faraday-futures-backbone-of-the-company-departs/

According to The Verge, Peter Savagian – Senior VP, Engineering at Faraday Future – departed the company, which could be another major blow after problems with raising capital to complete and launch its electric car FF 91.

Savagian was former chief engineer of GM’s EV1 (18 years at GM in total), and joined FF in 2016 becoming one of the key people in the company leading the development of the powertrain and battery. . . .


Followed today, via ABG:
Faraday Future co-founder quits: 'The company is effectively insolvent'
https://www.autoblog.com/2018/10/30/faraday-future-co-founder-quits/#slide-4334663

Chinese electric vehicle developer Faraday Future's co-founder Nick Sampson has resigned, tech news website The Verge reported on Tuesday, a week after the cash-starved company planned pay cuts and layoffs to reduce operational costs. The website also said the layoffs weren't enough, and the company was going to shut down some operations — and some of the workers who survived the layoffs were being furloughed without pay.

The move comes as the company is embroiled in a stand-off with its primary investor, China's Evergrande Health Industry Group, after a planned $2 billion investment went sour. And Sampson's resignation comes one day after His departure comes just one day after longtime GM exec Peter Savagian, Faraday's senior vice president of technology and product development, also left. . . .

    "The company is effectively insolvent in both its financial and personnel assets, it will at best will [sic] limp along for the foreseeable future. I feel that my role in Faraday Future is no long [sic] a path that I can follow, so I will leave the company, effective immediately," Sampson wrote. "I cannot continue knowing the devestating [sic] impact we are having on the lives of our employees, their families and loved ones as we as the [sic] ripple effect this will have on lives throughout our suppliers and the industry as a whole."

Where's Dandy Don when we need him?
Guy [I have lots of experience designing/selling off-grid AE systems, some using EVs but don't own one. Local trips are by foot, bike and/or rapid transit].

The 'best' is the enemy of 'good enough'. Copper shot, not Silver bullets.

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