Electric vehicle startup Faraday Future has not given up on building its FF 91 vehicle, which was first shown at CES in 2017. The company, which has gone through years of financial setbacks and management shuffles, is trying to raise $850 million, CEO Carsten Breitfeld told Bloomberg TV last week.
"Obviously, we are impacted like any other company a little bit by the virus situation," Breitfeld said. "The good thing is the hardware work on the 91 is mainly done, and it's more now software and testing."
Faraday is working on a second vehicle, the smaller FF 81, and looking to sell its technology to other companies, he said.
The startup, based in California, pushed back on media reports last month that it was moving to a new business model solely as a platform provider. Company founder Jia Yueting filed for Chapter 11 bankruptcy and restructuring in October. Last month, Faraday's technology partners appealed to creditors to accept Jia's restructuring plan to support the company's survival.