Tuesday, October 30, 2018

Faraday Future Founder Resigns, Company Effectively Insolvent, Says Report

Los Angeles-based Faraday Future founder Nick Sampson says that the company is "effectively insolvent", and has resigned from the company, according to The Verge. The high-flying electric vehicle maker had already reportedly been laying off staff and shutting down operations. The company's chief designer left yesterday. The departures come as a result of a split between the company's Chinese investment backers and management.