Skip to content
Advertisements

Faraday Future takes to Twitter to refute the haters – Roadshow

Faraday Future takes to Twitter to refute the haters – Roadshow

https://www.cnet.com/roadshow/news/faraday-future-twitter-statement/#ftag=CAD7f780fb

Things at long-troubled EV startup Faraday Future continue to get worse as its arbitration proceedings with investor Evergrande Health drag on. Faraday released a statement on Tuesday via Twitter that attempts to offset some of the negative publicity that the arbitration and subsequent financial difficulties have brought about.

The statement outlines the position in which Faraday Future finds itself, explains that it is forced to furlough even more employees as its cashflow troubles mount and blames everything on Evergrande and the arbitration process.

It fails to mention that the arbitrator agreed to let FF seek short-term outside funding while the arbitration process goes on, but wouldn’t relax Evergrande’s claims on Faraday Future’s intellectual property which FF CEO Jia Yueting put up as part of the initial investment deal with Evergrande.

With very little to offer investors beyond what it calls its “seasoned tech and automotive management,” Faraday’s immediate future is looking incredibly bleak and its assertion that it hopes to solve its funding issues in two or three months seems a bit hollow.

Car News

via Roadshow https://www.cnet.com/roadshow/#ftag=CAD7f780fb

December 5, 2018 at 01:24AM
https://cnet1.cbsistatic.com/img/SNFo4bQnC_L7j7o5VIrG3mERiQM=/2018/11/13/affa5f99-04c1-487f-9295-ebddebf634a0/ff91-ogi.jpg

Categories

Car News

Tags

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: