Earlier this week, reports claimed that Tata Motors was investing $900 million in Faraday Future. Now, another article says Tata has denied making such a deal with the troubled EV maker.
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When asked about making an investment in Faraday Future, a Tata spokesperson told India'sDaily News and Analysis, "The news is not true and hence we do not have any comment."
Gasgoo, a Chinese outlet, reported on the alleged investment on Monday. The site claimed Faraday Future is worth $9 billion, and that Tata would purchase 10 percent of the EV startup.
Tata Motors is the parent company of Jaguar Land Rover. As Autocar pointed out, JLR could benefit from Tata bringing Faraday Future into its stable. The British marque could gain access to Faraday Future's unique technology, including connectivity systems developed with Chinese financial partner and LeEco. We've reported that Jaguar Land Rover itself is looking to purchase another brand, possibly one that could give it an advantage in the EV space.
Faraday Future has been working to raise money for months now. Given its financial struggles, staff departures, and its decision to abandon its billion-dollar factory in Nevada, it looks like Faraday Future could really use an investment soon.
We reached out to Tata for comment and will update this post if we hear back.
Source: Daily News and Analysis
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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