Reports Claim Faraday Future Scored $900 Million Investment From Tata
Will the Indian auto giant save Faraday?
There's no doubt Faraday Future had a rough year. Amid financial problems, staff departures, and abandoning its billion-dollar factory in Nevada, the company has left many of us wondering if it will pull through. But if new reports are to be believed, the company is getting help from a major automotive manufacturer.
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According to Chinese outlet Gasgoo, Tata Motors is investing $900 million in Faraday Future. The site claims Faraday is worth $9 billion, which would mean Tata is essentially purchasing 10 percent of the EV startup. Other Chinese outlets also reported the news, according toAutocar.
Tata Motors, based in India, owns British automaker Jaguar Land Rover. AsAutocarpoints out, JLR could benefit from Faraday Future's unique technology, including connectivity systems developed with Chinese financial partner LeEco. As we previously reported, JLR has reportedly been looking to buy another luxury brand or technology firm.
Faraday Future received more than 64,000 orders for the FF 91. The Tesla-challenger, packing 1,050 hp, is said to be capable of hitting 60 mph from a standstill in 2.39 seconds. It uses Faraday Future's Echelon Inverter technology, intended to transform more energy while using less space.
It's still unclear whether the reports are true or not. We do know Faraday Future has been working to raise money for months, so it's possible that it has finally found a rock to lean on. When asked for confirmation byMotor Trend, Faraday Future declined to comment on the reports.
When I tell people I write about cars, the most common reply I receive is “Really?” I guess I never strike people as a car type as I drive down the freeway in the right lane going 60 mph in my old SUV. My gripes about driving in city traffic and fast drivers don’t help my case, either. For a time, the only cars I liked were old cars. Not old as in "classic" or "vintage," but as in well-worn. My first appreciation of cars came when I drove a very old Ford pickup. It wasn't perfect: I used a booster seat to reach the gas pedal, and the turn signal once fell off in my hand as I was learning to drive. But the thing I valued most was the memories. It took several years for me to truly become a "car person." Being a long-time writer and an avid reader has helped me develop a healthy curiosity and a desire to know how things work. This has made cars one of the most fascinating points of study for me because they are such intricate machines. I am interested in how cars can reach 200 mph, how they can run on hydrogen, and how they can drive and park on their own. I also enjoy learning how cars can solve problems whether it be in the form of reducing pollution, minimizing traffic, or helping people stay connected on the road. Yes, maybe I’m not a gearhead. Perhaps I’m a car nerd. Either way, I very much enjoy writing about cars and helping people stay in tune with the automotive industry. I wouldn't want to be writing about anything else. And don’t get me wrong: I know how to drool over a hot car. I am fascinated by the Tesla Model S, awed by the Lamborghini Veneno, and am hopelessly obsessed with the Audi R8.
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