Wednesday, March 20, 2019

Report: Faraday Future Sells HQ To Keep Afloat

Los Angeles-based electric car maker Faraday Future, in a bid to stay afloat, has sold off its headquarters to a real estate investor, according to a report on Wednesday. The report says Faraday Future is leasing back the headquarters, which it sold to real estate investor Atlas Capital, for around $10M. Faraday Future has been facing financial issues due to a dispute with its lead investor, which has resulted in layoffs at the company, numerous lawsuits from vendors, and executive departures.

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