Faraday Future says harassment campaign delays fundraising efforts

Faraday Future says harassment campaign delays fundraising efforts

Faraday Future Intelligent Electric said on Thursday that a misinformation campaign has hampered its fundraising efforts as the startup prepares to start production of its FF 91 luxury electric car.

Threats that began with lawsuits have escalated to threats of physical violence and even death threats, according to the company, who said it was working with law enforcement to investigate.

Some Faraday Future employees wrote to the board and shareholders last month, asking for the removal of executive chairperson Susan Swenson, suspecting she had organized attempts to push the company into bankruptcy and restructuring The Los Angeles, California-based company said a law firm hired to conduct a thorough internal investigation found the allegations were without merit.

FF Top Holding - a shareholder with 36 per cent voting rights in the company - filed a lawsuit against the startup seeking the removal of Swenson and director Brian Krolicki earlier this week.

Amid cooling capital market conditions, Faraday Future has faced hurdles to raise funds needed to start production of its car at its Hanford facility in California.

The electric-vehicle startup said in August it was in talks with investors for additional funding after raising $52 million in committed funding with a financing facility to raise up to $600 million.

The production of FF 91 was delayed in the fourth quarter of 2022 due to high costs and supply-chain disruptions.