Faraday Future hasn’t been making many headlines of late. But it remains an active business entity, surprisingly enough. On Thursday, it announced it had selected Velodyne Lidar Inc. as the exclusive supplier for the sensing/mapping hardware that’s going into its flagship FF91 EV.
Faraday’s missteps have been so frequent and gargantuan, that it would be impossible to give the abridged history without still wasting a large portion of your day. We’ll spare you from that and allow interested parties to dig through older articles about factory snafus, secret management structures, faked prototypes, development setbacks, bankruptcy, and more. The only thing you need to remember is that it is genuinely miraculous that FF still exists as a company – almost like it’s a testament to the utter ridiculousness of some tech startups – that continues to believe it will someday manufacture an electric car.
Despite playing host to what everyone presumed would be a very hot property, Lyft’s IPO hasn’t panned out as expected. While the company’s Friday stock debut was strong, April 1st was less promising, with Lyft’s share price slipping by nearly 12 percent in a single day. It’s now well beneath the target price, casting doubts about the financial sustainability of mobility firms.
It’s a complicated issue. Lyft was valued at more than $22 billion when it went public last week, but investors are concerned with the company’s inability to turn a profit. Last year, the ride-hailing giant posted a net loss of nearly $1 billion. With Uber likely to announce its own IPO soon (and likely face similar headwinds), many are concerned.
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- Verbal Back in the 90's there was a bumper sticker that said, "Would you drive any better with that cell phone up your a$$?"
- FreedMike On the one hand, it doesn't look good. On the other hand, not releasing the car into the hands of the general public until the obvious bugs are worked out is a good idea for a brand new company. Time will tell.
- FreedMike I do take phone calls using Car Play if I'm not in traffic; it's a little bit of a distraction, but not much. I think it's certainly within an acceptable risk margin if you're not in heavy traffic. Back in the old days when I had a manual car and no Bluetooth, I never used the phone while driving at all.
- FreedMike I guess some folks are just bound and determined to drive around with a grenade in their steering wheel.
- FreedMike Bit dear, but these might have collector appeal, particularly one with 20,000 miles (assuming that's not a doctored figure) that hasn't had the full "whip" treatment.