Report – Faraday’s future in jeopardy as investor LeEco shimmers image

Faraday Future’s future production plans are shrouded in clouds of uncertainty – again. We may remember last year the factory’s build had to be halted due to a lack of resources and a new report is alleging the company is out on the field looking for investors.

According to “a person with direct knowledge of the matter,” who as usual “asked not to be identified because the details are private” revealed the startup is looking to secure a huge, $1 billion investment to make sure it actually has a future. Apparently, the company that primarily supported FF until now – China’s LeEco – has decided to halt investments due to its leader Jia Yueting’s cash crunch. There’s no official word from the company itself, with the report further stating the firm is actively seeking investors and aims to complete the offer in the next couple of months.

Faraday Future’s future hang sin balance now, because it wants to have its first-ever model, the FF 91 electric crossover out on the market and in production sometime in 2018 and also introduce a second model just a few months afterwards. Apparently, the company’s plant being built in Nevada will be up and ready for mass production in August, with the future goals aiming to deliver more than 150,000 units across a dozen vehicle range by 2026. Faraday Future also plans to expand its production to China with a new, local factory in 2019, given that it’s the most important global market for electric vehicles.