How "Tesla Killer" Faraday Future Went Bankrupt

Faraday Future was launched with much fanfare in 2014 with the sole idea of "Challenging Tesla", apart from Tesla, it went on to say it will manufacture a Car which is Tesla, Google and Uber combined. Fast Forward 3 years, and it was already in trouble. The founder Jia Yeuting borrowed around 6.6 Billion Dollars to fund Faraday Future, resulting in default payment of around 3.6 Billion Dollars.



Faraday Future tried to replicate Tesla, and it failed, well not yet. It's still in the race though, with the new CEO tightening its ballooning budget and laying off employees.


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