Posted on

Faraday Future gets a lifeline to raise up to $350 million



Share

Moribund EV startup Faraday Future could receive up to a $350 million lifeline to help launch its first vehicle, according to a regulatory filing.
The company said Monday it has signed a deal with an affiliate of Yorkville Advisors Global for an equity line of credit up to $350 million. The financing, which entails an initial commitment of $200 million from the New Jersey-based investment firm, will be “key” to producing the company’s long-awaited first model, the FF 91 sports car. As of Monday, Faraday Future had a market cap of $234 million.
“This new financ …

Read More