Tuesday, February 26, 2019

Report: Faraday Future Puts Off Restarting Furloughed Employees

A report, published on Tuesday, says that troubled electric car maker Faraday Future has put off restarting its operations and having furloughed employees return to work, although it's unclear what the holdup might be for the company. The report, from the Verge, cited internal emails obtained saying that employees would not be able to return to work on March 1st, as planned. Faraday Future had been locked in an extended battle with its largest investor, Evegrande Health, last year. Faraday had announced a new deal with Evergrande to make adjustments to its structure and to terminate its prior agreement with Evergrande, in what it had said would allow it to restart its operations next month. Faraday Future laid off most of its workers towards the end of last year as it rapidly ran out of cash while battling Evergrande.