Several executives from perpetual automotive startup Faraday Future have reportedly been subpoenaed by the U.S. Securities and Exchange Commission as part of an investigation into inaccurate statements made to investors. Though, considering the nameplate’s history, it would be impossible to assume which item the SEC will be focusing on thanks to FF’s exceptionally long history of industrial misgivings.
We’ve covered Faraday Future’s long and bizarre story from the early days of delivering half-baked, though otherwise impressive, concepts to its more recent status as an automaker in the ethereal sense. It’s promised the moon and only managed to deliver a handful of production husks that never surpassed the body-in-white phase and some “production-intent” prototypes of the FF91. Though the larger story is the SEC’s sudden interest in electric vehicle startups that went public via mergers with blank check firms, better known as special purpose acquisition companies (SPACs), over the last two years. (Read More…)
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