[Global Network Comprehensive Report] According to foreign media reports, Faraday’s future company executives resigned in succession, the company’s financial and personnel assets are insolvent, and future financing is facing difficulties.
According to reports, Jacob Brown, a manager of Faraday’s future company, said in an email to foreign media that the company will not close its operations and hired a new team of financial consultants this week. Help the company in the process of seeking financing. With more news coming, the media will continue to report on the development path of Faraday’s future company.
Nick Sampson, one of the three founders of Faraday’s future company, has resigned. Last week, it was reported that the company is trying to maintain its solvency. The day before Sampson resigned, Sawajian, senior vice president of technology and product development, also resigned. According to the technology blog The Verge, Sampson said in his resignation letter that the company’s financial and personnel assets are actually insolvent, and that the company can only survive in the foreseeable future. He can’t continue to play his role in the company, so he chooses to leave the company immediately. He added that he can’t continue to understand the catastrophic impact of the company’s current situation on the lives of its employees, their families and loved ones, and the ripples that will affect the entire supplier and the industry as a whole.
It is reported that in addition to the layoff plan announced last week, employees will be arranged to take unpaid leave until the company receives new funds. In an e-mail from the technology blog The Verge, CEO Jia Yueting said that all employees joining the company must take a vacation and expect to have a vacation that lasts at least until December. Employees who work at the company before May 1 this year will be allowed to stay in the company. However, they will receive a minimum wage. He wrote in the email that the company is grateful to all the hundreds of employees who are willing to receive the minimum wage and continue to participate in the FF91 core program. This is an extremely difficult decision, and it recognizes the emotional pressure and financial pressure that this brings to the personal lives of our employees.
It is understood that the main investor of Faraday’s future company, the Chinese real estate company Evergrande, refused to invest more money in this troubled industry, resulting in a shortage of funds. After being denied funding in July, the relationship between the two companies publicly deteriorated. In a statement, Faraday said that this was due to the fact that Evergrande failed to meet the end of the transaction and intended to expose Faraday’s future company to existing funding problems and refused to pay the promised payment. Since then, the company has been trying to get additional financing and will only resume operations after finding an investor. Given the closure, the company seems unlikely to achieve this goal, or even impossible to deliver the vehicle.
Post time: Nov-06-2018