Tuesday, August 8, 2017

Faraday Future Loses Another Exec

Los Angeles-based electric car startup Faraday Future has lost another executive, the company's Vice President of Human Resources, according to a report on Tuesday afternoon. Alan Cherry apparently announced his departure at an "all hands" meeting at Faraday earlier today. Cherry was previously at Tesla Motors. Faraday Future has been fighting to stay alive, even as it faces financial pressure after primary backer LeEco ran into its own financial issues; the company recently announced plans for a new factory in the San Joaquin valley, after aborting a more grandiose "megafactory" in Nevada. The company just raised $14M in a "rescue loan" to keep the company afloat while it seeks investors to fund the company.

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