Reports of the demise of Faraday Future are premature, apparently. Word out of California is that the company has secured an emergency $14 million loan from some Wall Street investors. The company has pledged its Los Angeles headquarters as collateral for the loan.
Among other things, the money will be used to help pay the lease on a former Pirelli factory located about 200 miles north of LA. Faraday Future plans to begin moving in and making the factory ready for production again beginning early in 2018 according to company sources. PIrelli stopped operations there in 2001.