Proving just how difficult it is to start a brand new car company, it looks like Faraday Future?s, uh, future is cloudy at best.
In a report by The Verge, former employees recount the company?s financial problems and allege unusual business practices by founder Jia Yueting.
You?ll remember that in 2015, Faraday Future promised an all-electric supercar to rival Tesla?s Model S. The FF91 would do 0-60 in 2.4 seconds we were told and cost a jaw-dropping $180,000.
As if that weren?t ambitious enough, Faraday would produce the new car in a gleaming new factory in the Nevada desert. Just like Tesla.
Yueting said the facility would produce 50,000 cars by 2025. Oh, and there’s that race car concept they just introduced.
Back in the present, The Verge report documents constant delays with the car?s development, and a huge staff of 1,500 at the company?s California headquarters, despite having no product to produce or sell.
Several former employees say that unless the company gets a fresh infusion of cash, it only has funds to meet payroll through the end of the year. Which may not be a problem since those former workers also report few of the staff even showing up for work.
If Faraday Future done for? Don?t count them out yet. Startups frequently go through rough patches before finding their way.