Chinese media outlets stated that the Indian conglomerate has bought 10% of the troubled American electric car company
Sam Sheehan
13 November 2017

Tata has denied that it is investing $900 million (£687m) into electric car start-up Faraday Future - despite reports in Chinese media outlets claiming it has.

A Tata spokesman told India’s Daily News and Analysis “The news is not true and hence we do not have any comment.”

US-based Faraday Future is worth about $9 billion (£6.87bn), meaning the claims for Tata’s investment would have bought it 10% of the company.

Faraday Future declined to comment to Autocar on the matter.

Will Faraday Future take Tesla's electric crown?

Tata brand Tata Motors owns Jaguar Land Rover (JLR), which itself is investing heavily in the development of electric technology. If the deal or a similar partnership were to arise, it could give JLR access to Faraday Future’s advanced technology, which includes the high-tech connectivity systems developed by Chinese financial partner and electronics specialist LeEco.

The deal would also mark a big step in the right direction for Faraday Future after it recently revealed that two of its leading figures had departed.

Chief financial officer Stefan Krause resigned in October and chief technology officer Ulrich Kranz’s contract was terminated. However, Faraday Future said that this had not impacted upon its ongoing research and development process.

The company has received more than 64,000 orders for its first model, the FF 91, a Tesla Model S rival, and is building a battery factory in Texas, but plans took a hit earlier this year when construction contractor AECOM claimed a payment of $21m (£16m) was late.

Faraday Future has since scaled back its plans for the site and delayed its completion date by a year to 2019.

The FF 91 is powered by a 130kWh battery and uses Faraday Future's patented Echelon Inverter, which it says can transform more energy while using less space.

The car can gain 500 miles worth of charge per hour and comes with a home charger that can fill the battery to 50% in less than 4.5 hours at 240v. Faraday Future says it predicts the car will offer a range of more than 435 miles in New European Driving Cycle (NEDC) tests.

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13 November 2017

buys you what?




love the idea of new smaller companies that grows!


13 November 2017

that $900m gets you only 10% of a company that has yet to build a car, or allegedly pay its suppliers. Whatever the percentage is, I quite like the idea of the FF91 being redesigned and rebadged as a Jaguar.  

14 November 2017

Getting paid easily online every month by just doing easy work from home. I have just received a paycheck of $18572 from this job. I am a full time college student and just working on it for 2 to 3 hrs a day. This job is super awesome and its earnings are massive. Every person on this plannet can makes more income by follow this link.......


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