Struggling EV firm Faraday Future gets another financial lifeline with new $225M investment
Struggling EV firm Faraday Future gets another financial lifeline with new $225M investment By Jon Russell Editor’s note: This post originally appeared on TechNode , an editorial partner of TechCrunch based in China. It may have lost its original founding team , but the wheels are still rolling for embattled electric vehicle (EV) maker Faraday Future. The company, famous for lavish promotions but little substance , has received yet another financial lifeline in the wake of a dispute with key investor Evergrande. Faraday href="https://www.ff.com/us/press-room/new-financing/"> announced on Monday that it had received $225 million in bridge financing. That sum is apparently part of a larger $1.25 billion capital raise that the company believes it can close before the end of this year. This latest shot in the arm is led by U.S. asset management firm Birch Lake Associates and it is aimed at bringing Faraday’s flagship FF91 SUV to market. Part of the financing seeks to ...