Company / division: Faraday Future
Well, Faraday Future does actually seem to have a car, which seems to be able to drive fairly quickly in a straight line, and is sometimes able to park itself automatically. That much is clear after its press event tonight at CES. But its financial situation, the eventual price and exact launch date of the car, and much else besides remain unclear. The event seems to have gone fairly well, which was in doubt after some recent stories, but it’s still far from certain that we’ll actually see a production vehicle from FF next year.
Two top Faraday Future executives just resigned – The Verge (Dec 23, 2016)
It’s hard to avoid the sense at this point that this company is in enormous trouble, along with its investor LeEco, both of which seem to have overspent in an aggressive pursuit of new product and geographic markets.
Behind the scenes at Faraday Future, an electric carmaker on the brink of collapse – The Verge (Dec 22, 2016)
A pretty damning take on Faraday Future and its current financial situation, ahead of a big launch at CES early next month. It’s hard to avoid the sense that both Faraday Future and its largest investor LeEco are struggling with the results of over-ambitious expansion plans.