Friday, March 1, 2019

Report: Faraday Future Now Has 11 Lawsuits Filed Against Firm

A new report says that there are now a total of 11 lawsuits filed against troubled Los Angeles-based electric car maker Faraday Future, as it struggles to restart its operations after massive layoffs after its main investor, Evergrande Health, pulled its support from the firm. The lawsuits--filed against the company by its suppliers and contractors--reportedly seek nearly $80M in back payments, damages, and fees, mostly over unpaid bills. Faraday Future had said it had resolved the issue with Evergrande Health, but apparently has been unable to raise further funding to re-hire the workers it laid off. Faraday Future had been rapidly running out of cash, after Evergrande Health said it would no longer fund the company, towards the end of last year.