BMW's EV Chief Jumps to Struggling Faraday Future

Struggling electric vehicle startup Faraday Future Inc. has hired Ulrich Kranz, who has led BMW AG’s "i" electric vehicle unit since 2007, to be its chief technology officer.

Kranz’s hiring comes less than a week after Faraday scrapped plans for a $1 billion assembly plant near Las Vegas. The California-based company, which had been backed by Chinese internet tycoon Jia Yueting, is looking for new investors to help it launch a production version of the company’s 1,050-hp FF 91 concept electric vehicle (pictured).

Kranz spent 31 years at BMW, starting in the carmaker’s chassis development operations. He later headed product development for chassis systems and finished vehicles. He also was the X5 project manager at BMW’s plant in Spartanburg, S.C., and later headed the Mini product line.

Kranz will lead Faraday's effort to move the FF 91 into production within about 18 months. The company has been collecting $5,000 refundable deposits for the car, whose price has not yet been set.

The FF 91 is about 6 inches longer that the Tesla Model S EV with which it will compete. The four-seater in concept form is equipped with three electric motors and a 130-kWh battery the company says can deliver 1,050 hp, propel the vehicle from zero to 60 mph in 2.4 seconds and provide a range of 378 miles (600 km) per charge.