Faraday Future Reportedly Receives $900 Million From Tata

After months of turmoil, it appears as though electric car startup Faraday Future has caught a huge break following a healthy investment from Tata Motors.

Chinese media outlet Gasgoo claims that the carmaker has attracted $900 million in funding from Tata Motors for a 10 per cent stake in the company, essentially valuing it at $9 billion.

While neither firm has commented on the reports, such an investment could prove fruitful for both carmakers. Not only could such a substantial chunk of money keep Faraday Future above water, it could also give Tata access to many of FF’s advanced technologies, including connectivity systems it has developed with Chinese backer LeEco.

Just a couple of days after unveiling its first proposed production model, the FF 91, Faraday claimed it had received over 64,000 reservations but failed to reveal how many of those orders included the optional $5,000 refundable deposit.

Yesterday, reports surfaced that the startup has lost five key executives in recent weeks.

PHOTO GALLERY

  • Six Thousand Times

    Bodacious money.

  • Six_Tymes

    That was fast. good to know they will float for awhile longer.

  • LWOAP

    Just one development after another. Perhaps the worst is behind them and they can finally get this thing out the door.

    • Bash

      I hope so. it will be great.

  • EM1

    I’m worried it will be way overpriced which can cause to failure, but Tat’s backup plain would be to use this tech in Jag and Range Rover.

  • Erzhik

    It’s absurd that FF is valued at $9b.

  • GT

    $900m only gets 10% ??

  • brn

    $899 million of that needs to be put toward a marketing campaign to regain everyone’s trust. Given their track record, who would do business with FF?

  • Philip George

    $900m should get you the whole company, the entire members of staff and their closest families undying loyalty. they haven’t made anything yet that anyone has paid for

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