Faraday Future Unravels before our eyes as one thing leads to another and what was once a promising company becomes nothing more than a cesspool of utter chaos. Now, after the untimely resignation of then CFO, Stefan Krause, and then CTO, Ulrich Kranz, the man behind the design of the FF91, Richard Kim – he was also a designer for BMW for more than a decade and a founding executive of FF – has tendered his resignation as well.
Out of the five core members brought in to lead Faraday Future, Kim is the third two leave in just four months, joining Alan Cherry – the head of HR – and Tom Wessner – FF’s supply chain group manager. Add these names to the CTO and CFO listed above, and you’re looking at a pretty empty house, to say the least. But, it doesn’t stop there – that house is really empty. Earlier last month, The Verge managed to obtain an internal document that scolded employees for not showing up to work, claiming that the company was close to an investment and they needed to continue fighting. That letter was written by Allan Lu, the company’s new head of go-to-market operations.
All of this happened shortly after the debut of the FF91 when the flow of capital from Jia Yueting (known as JT,) the company’s main investor, began to fizzle as he struggled with his issues in other Chinese companies. Since then, FF has dropped its plans for a $1 billion factory in Nevada, while the recently resigned Krause has considered filing for Chapter 11 bankruptcy and the possibility of selling parts of FF’s business to Mahindra & Mahindra. This, of course, led to constant fighting with investor YT, who has since accused Krause of “wrongdoings” and causing damage to the company.
Kim, on the other hand, had considered leaving for a few months but offered to stay as long as FF focused on keeping a core group of people and launching the FF91. An agreement couldn’t be reached, and he subsequently tendered his resignation. When you consider the fact that the brand is losing executives left and right, and has yet to find a new source of capital, it’s not likely we’ll see the FF91 go into production any time soon. If I was a betting man, I would bet that Faraday Future will slowly fade away into the night, and will be nothing more than a small note at the bottom of automotive history books.
Read our full review on the 2018 Faraday Future FF 91.
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