Tesla rival Faraday Future raises $2 billion
Tesla's rival electric carmaking startup Faraday Future has announced a $2-billion equity funding round from China's Evergrande Health in exchange for a 45% stake. Also, Faraday Future's Founder Yueting Jia will become the startup's global CEO with immediate effect. Filings revealed Evergrande Health has already invested $860 million and will disburse the remaining $1.2 billion in two parts.