29 Jun '18, 1pm

Faraday Future gets a $2 billion lifeline to build expensive crossover

Faraday Future FF 91 Enlarge Photo Faraday Future, the fledgling Tesla competitor working to build a $300,000 electric SUV, has been thrown a financial lifeline. Evergrande Health, a division of a large Hong Kong conglomerate, has committed to invest $2 billion to keep alive the all-electric luxury SUV project, according to a report in TechCrunch . Faraday Future showed off its ultra-futuristic—and ultra expensive—FF91 electric SUV at the 2017 CES show, but has struggled to bring the car to market. READ THIS: Faraday Future promised $1.5 billion, says FF 91 will arrive by end of this year First, it had to abandon plans to build a giant factory outside Las Vegas, and had to scale back plans for a broader product line to just two planned models. In place of the sprawling Las Vegas factory it started to build in 2016, the company has now leased a turn-key former Pirelli facto...

Full article: https://www.greencarreports.com/news/1117487_faraday-futu...

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