Faraday Future is an electric vehicle startup based in California. It was founded and it is being primarily financed by Chinese billionaire Jia Yueting.
Founded only in 2014, the company already has around 1,000 employees and reportedly raised 100s of millions.
It started construction on a $1 billion electric vehicle factory in North Las Vegas and plans to bring its first vehicle to market with the next 2-3 years.
Between established automakers accelerating their electric vehicle programs and the newcomers in the EV industry – like Apple, Faraday Future or Atieva – engineers with battery experience are not short on employment opportunities. Earlier this year, Apple poached several battery tech experts from A123 Systems and we also reported that about 1 in 8 of Faraday Future’s ~400 employees is formerly from Tesla Motors.
From an executive’s standpoint, retaining talent in a specific field can be challenging on its own, but for Elon Musk, CEO of both Tesla and SpaceX, it can be even more complex when both companies he’s managing require talent in the same field…
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The Verge interviewed Nick Sampson and Richard Kim from Faraday Future. If you have been following our coverage of Faraday Future, a young startup developing an electric vehicle in Los Angeles, you probably know most of the little information available on the secretive startup, but it is still interesting to hear it from the horse’s mouth.
You can watch the video below the fold:
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Faraday Future announced this morning a planned first phase investment of $1 billion in a U.S. manufacturing facility, which should be announced in the “coming weeks”. The announcement comes just a week after our profile on the company, which linked the firm to the deep pocket Chinese technology company, LeTV.
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The so-called “poaching war” for top automotive engineering talent between Tesla and Apple gathered quite a few headlines in the past months, especially after Tesla CEO Elon Musk called the Cupertino company the “Tesla Graveyard” for hiring people he claimed were “fired” by the company. But after looking closer into the recent hires between the two companies, it looks like Tesla has little to fear from Apple’s recruiting effort, at least if we compare it to Faraday Future’s.
Faraday Future took a small step out of ‘stealth mode’ earlier this summer to announce that it is looking for a location for a manufacturing facility to build an electric vehicle. In the months since, the 1-year old startup ramped up its hiring effort and now has over 400 employees with an impressive percentage coming from Tesla.
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The Chinese auto giant Beijing Automotive Industry Holding Co, through its Beijing Electric Vehicle Co subsidiary, opened a research and development center in Silicon Valley. The center will be dedicated to electric vehicle research.
In its current “launch phase”, the R&D center has just over 20 employees and the company expects them to develop “4 to 6 models per year”.
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Leshi Internet Information & Technology, also known as LeTV, is a large Chinese company most popular for its Netflix-like service on LeTV.com. Earlier this year, CEO Jia Yueting sold $1.61 billion worth LeTV’s shares, $1.2 billion of which he loaned right back to the company to finance the numerous projects they are working on, which include a smartphone, smart TV and electric cars…
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That’s what a Faraday Future representative told MotorTrend when asked about the reality of launching a car, which is undoubtedly one of the most difficult kind of product to bring to market. The young electric car company, whose name is still only a placeholder, took a small step out of “stealth mode” yesterday to disclose that they are looking for a location, in the US, for a new manufacturing facility.
We first heard of Faraday Future earlier this year after receiving some unconfirmed tips about Apple being involved with the startup company through their secretive vehicle program. Although Apple’s involvement remains unconfirmed, Faraday Future is a very real company.
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