Faraday Future is "effectively insolvent", says the former Sr. VP of Global Manufacturing.

Olds442

Senior Member
Joined
Jan 22, 2010
Messages
28,950
Reaction score
71,280
https://www.theverge.com/2018/10/31...executive-resignation-employee-emergency-fund

Top execs are bailing at a very high pace.

Dag Reckhorn, Faraday Future’s senior vice president of global manufacturing — and the last of the company’s five “founding executives” — resigned Wednesday, according to an internal email obtained by The Verge. The news comes after investor trouble sparked two wild weeks of layoffs and salary cuts that quickly turned into furloughs and executive departures at the EV startup, and a co-founder calling the company “effectively insolvent.”Reckhorn said in his email to staff that he is working to establish an emergency fund for employees affected by the furlough.

“I am heartbroken to have to let you know, that I will leave FF effective today,” Reckhorn wrote in the email, which was sent to the company’s remaining staff. “There are legalities that force me to do so. Please do not believe that I am ditching the best team I ever worked with.”

Personally I'm bummed, the more EV's out there, the better. Maybe someone swoops in and invests, but that doesn't seem likely at this point.
 

CB91710

Not Michael Sankar
Double Platinum Supporting Member
Joined
Jul 19, 2019
Messages
14,753
Reaction score
41,642
How many more will fail?


Funny how a lot of these don't even have enough funding to buy a house in Los Angeles... and a couple don't have enough funding to buy a Tesla Model 3.
 

efstop

All your base are belong to us
Gold Supporting Member
Joined
May 29, 2015
Messages
14,368
Reaction score
38,372
They are still alive, with a vehicle planned. Just received a Certificate of Occupancy for the major manufacturing area of its Hanford, Calif. manufacturing plant.
 

CB91710

Not Michael Sankar
Double Platinum Supporting Member
Joined
Jul 19, 2019
Messages
14,753
Reaction score
41,642
Perfect example of why utopian plans created by academia and City planners and engineers AWAYS fail.
You can have a 100% perfectly designed system, equipped with 100% perfectly designed equipment that is 100% reliable.

And that will work beautifully.

But add ONE human being to the mixture, and it all falls apart.
Even under the best of conditions, human being are too unpredictable for any kind of AI to handle without further human guidance.
It's why self-driving vehicles can't work.... because there will ALWAYS be legacy vehicles, which will require traffic control devices, and have to be manually parked... and will be driven by owners who will not properly maintain them, and who will let them run out of gas, or low on charge, or air, etc.
Unless the car maintains itself, it WILL fail because not every owner will maintain it the way you and I might.

One look at the reliability of amusement park rides shows how tedious it can be to operate and maintain automated systems.
Imagine the teething pains of Space Mountain expanded to a city of 200,000
 

Latest Threads



Top