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Faraday Future Teases Electric Crossover
California-based electric vehicle startup Faraday Future Inc. released a video of the midsize crossover the company plans to unveil in January at the CES consumer electrics show in Las Vegas.
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California-based electric vehicle startup Faraday Future Inc. released a video of the midsize crossover the company plans to unveil in January at the CES consumer electrics show in Las Vegas.
The blurry video shows a sleek but heavily camouflaged vehicle racing around a track. Faraday has said the model will use a modular platform that can support a variety of different body types.
But Faraday’s ambitious plans were clouded last week when Jia Yueting, who heads Faraday and owner China media giant Leshi Internet Information & Technology Corp., acknowledged that Faraday has over-expanded and is running out of cash.
Faraday, which already has spent 10 billion yuan ($1billion) on product development, is behind on payments for the $1 billion assembly plant it is constructing in Nevada.
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