Palantir now owns nearly 9% of EV startup Faraday Future — here’s why

Quick Summary:

Palantir now owns 8.7% of struggling electric vehicle startup Faraday Future, according to a new filing with the U.S.

But the companies quietly entered a settlement earlier this year after the EV startup stopped paying the data company for services it agreed to buy all the way back in 2021.

Faraday Future was one of many EV startups that hopped on the special purpose acquisition company (SPAC) craze happening at the time.

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Article Details

Author / Journalist: Sean O'Kane

Category: Technology

Markets: United States

Topics: Transportation Faraday future Palantir Electric vehicles EVs

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-09 @ 16:46:04 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 599 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 22970197

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