EV startup, Faraday aims to raise $850 million — despite founder’s business mishap in China

Faraday wants to achieve its funding goal by the first quarter of 2020 as a step closer to IPO


Syamil Faisal

24 Oct, 2019

EV startup, Faraday aims to raise $850 million — despite founder’s business mishap in China | BEAMSTART News

- From our Sponsors -

The Los Angeles-based electric vehicle startup, Faraday seeks to raise $850 million by April next year despite its founder’s recent financial calamity.

According to its CEO, Carsten Breitfeld, who took over the job weeks after the founder’s bankruptcy filing, the upcoming funding will be a stepping stone for Faraday towards IPO — the next funding will be in 6 months, seeing a $225 million capital injection.

Apart from building its $150,000 F-91 electric car in Hanford, Calif, Faraday is in talks with undisclosed companies to forge a joint venture in China.

Jia Yueting, Faraday’s founder filed bankruptcy after spending billions of dollars on his personal debts to grow his business in China.

Jia remains as Faraday's chief product and user officer as he sets up creditor trust to repay his debt — making the creditor trust a shareholder of the company without voting rights.

- From our Sponsors -

Latest Jobs

Senior Software Engineer

Crustdata

California,

Full Time

USD 150000 — USD 220000 yearly

Founding Recruiter

Giga

California,

Full Time

USD 110000 — USD 170000 yearly

Hardware Engineer

Makani Science

California,

Full Time

USD 65000 — USD 130000 yearly

Software Engineer

Solidroad

California,

Full Time

USD 170 — USD 220 yearly

Founding Software Engineer

Novoflow

California,

Full Time

USD 100000 — USD 200000 yearly

Applied AI Engineer

Argon AI, Inc.

New York,

Full Time

USD 200000 — USD 300000 yearly

Account Executive

Conduit

California,

Full Time

USD 160000 yearly

Founding Recruiting Lead

Confido

New York,

Full Time

USD 155000 — USD 185000 yearly

Machine Learning Intern

Bindwell

California,

Internship

USD 80000 — USD 120000 yearly

Founding Engineer

Simple AI

California,

Full Time

USD 100 — USD 200000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).