• Faraday Future is trying to cancel a $2 billion investment as it reportedly struggles to pay suppliers

    2 monthes ago - By Business Insider

    The electric vehicle startup Faraday Future is attempting to cancel a $2 billion deal that would give a 45% ownership stake to the Chinese healthcare company Evergrande Health Industry Group, according to a filing on the Hong Kong stock exchange first reported by Reuters .
    The filing says that Faraday Future asked for a $700 million advance from Evergrande and has entered into arbitration to cancel all of its agreements with Evergrande after claiming it had not received the $700 million payment.
    Evergrande says in the filing that Faraday had not met the terms necessary to receive the...
    Read more ...

     

  • Faraday Future is trying to cancel a $2 billion investment as it reportedly struggles to pay suppliers

    Faraday Future is trying to cancel a $2 billion investment as it reportedly struggles to pay suppliers

    2 monthes ago - By Business Insider

    The electric vehicle startup Faraday Future is attempting to cancel a $2 billion deal that would give a 45% ownership stake to the Chinese healthcare company Evergrande Health Industry Group, according to a filing on the Hong Kong stock exchange first reported by Reuters .
    The filing says that Faraday Future asked for a $700 million advance from Evergrande and has entered into arbitration to cancel all of its agreements with Evergrande after claiming it had not received the $700 million payment.
    Evergrande says in the filing that Faraday had not met the terms necessary to receive the...
    Read more ...