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Tesla Motors Rival Faraday Future Could Be Backed by Chinese Entertainment Company

Regarding size, entertainment is a comparable business to that of car manufacturing, but what if one could get them to work together? If that were truly possible, it would mean that a tremendous amount of money would suddenly become available for a new company to arise in a short time. And that’s exactly what Faraday Future seems to be - a start-up that claims it’s ready to market its first electric vehicle next year.
Faraday Future 1 photo
Faraday Future is a discreet Electric Vehicle start-up based in Gardena, California, which all of a sudden has announced it's planning to invest $1 billion into this new company that would start deliveries next year. The automotive industry did not take the statement quite seriously, and it’s no wonder it did so, considering that those who are already making production models know exactly how complicated the process is.

However, according to Tech Crunch, the money is as real as the bright, blue sky, and it’s coming from China. Apparently, the investor behind Faraday Future is the Chinese technology company LeTV. Often seen as the Netflix of the communist country, it would appear the investor is laying low because it wants the new product to be identified as a U.S.-based car.

LeTV’s chairperson Jia Yueting apparently has a plan to build electric vehicles and talked about it with Bloomberg last year. “Look at China’s skies, all responsible corporate citizens want to do something about it. This is the truth,” he said. The fact that the communist nation is facing alarming pollution levels is well known, and so is the truth that EV makers want to sell their cars in the world’s most populous country.

Faraday Future - FF - may have been quite discrete about its resources, but it did mention that it’s a well-funded mobility company comprised of a global team of more than 400 automotive and technology experts. So far, there has been no word from the company, other than its official announcement.

 
 
 
 
 

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