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Faraday Future is reportedly struggling to raise $500 million ahead of a major deadline





Faraday Future

  • Faraday Future has more than $400 million in debt that will come due in December if it fails to raise half a billion dollars in a Series A round.
  • The electric-car startup has been scrambling for cash since at least the beginning of 2017.
  • So far this year, Faraday has scrapped plans to build factories in North Las Vegas and the San Francisco Bay Area, and lost scores of top talent, including its recently hired COO/CFO Stefan Krause.
  • The company owes millions of dollars in unpaid bills.

Faraday Future is said to be running up against a December deadline to raise $500 million in read more >>>

Source:: BusinessInsider.Com

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