By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Reading: China electric car firm Faraday Future says obtains $225 mn in bridge financing
Share
Aa
Aa
BeFirsTrankBeFirsTrank
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Search
  • Home
  • Car Reviews
  • Auto Shows
  • Bike Reviews
  • Future
  • New Car
  • Used Car
  • Contact Us !
Have an existing account? Sign In
Follow US
© 2023 BeFirsTrank News Network
Future

China electric car firm Faraday Future says obtains $225 mn in bridge financing

Loknath Das
Last updated: 2019/04/30 at 12:31 PM
By Loknath Das 1 Min Read
Share
SHARE

Faraday Future was founded by Chinese entrepreneur Jia Yueting, who is currently also its chief executive.SHANGHAI: Chinese electric vehicledeveloper Faraday Future said on Tuesday that it had obtained up to $225 million in bridge financing from a U.S. merchant bank to allow it to complete the development of its flagship FF91 model.

Faraday, which has ambitions to overtake Tesla Inc, said in November that it was exploring strategic options, including debt and equity financing, amid a legal fight with Evergrande Health Industry Group Ltd which has since ended.

The company said in a statement on its website that it had signed the agreement with Birch Lake Associates, with parts of the financing also set to be used to pay around 60 percent of the suppliers to which it owes money.

The company also said it had launched a $1.25 billion equity capital-raising programme with Stifel Nicolaus & Co as advisor.

[“source=auto.economictimes.indiatimes”]

You Might Also Like

Fatherhood, marriage, and Longevity in the

India is at the forefront of the digital revolution

How the future will be altered by artificial intelligence

Cybersecurity audit: what it is and why you need one?

Personalized advertising fuels growth and drives competitiveness for European businesses

TAGGED: $225, bridge, Car, China, Electric, Faraday, financing, Firm, Future, in, Mn, obtains, Says
Loknath Das April 30, 2019
Share
Previous Article The 10 Vital Skills You Will Need For The Future Of Work
Next Article Meet ‘Neon Future’, a Science Fiction Comic that Trades Cyber-Paranoia for Optimism

Calendar

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    

Latest Trending News

  • Buying a Used VW Car in Albuquerque? Here’s What to Know August 21, 2025
  • What to Do If the Trunk of Your Nissan Won’t Open August 20, 2025
  • Fatherhood, marriage, and Longevity in the August 14, 2025
  • Style, Luxury, and Innovation in a New Car Coming in 2024 August 13, 2025
  • Interior of the 2025 Mitsubishi Outlander PHEV August 8, 2025
  • NCAP Rating and Safety Features of the Tata Harrier August 6, 2025
  • Certified AC Technicians in Ocala: Your Local Cooling Experts August 5, 2025

© 2023 Befirstrank News Network. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?