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Faraday appointed interim chief financial officer in the future and said he had received $55 million in financing

2025-01-23 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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CTOnews.com, October 27, according to the interface, Faraday Future (Faraday Future) today announced the appointment of Yun Han as Chief Accounting Officer and interim Chief Financial Officer, effective October 25, 2022. Han succeeds Becky Roof, who will help the company ensure an orderly transition. Previously, Yun Han was senior vice president and chief accounting officer of Romeo Power, Inc.

Faraday also announced in the future that it had received all the previously announced financing of $55 million (excluding $5 million in additional bridge notes) from a subsidiary of ATW Partners LLC, and was expected to receive the first $10 million under the previously announced $60 million financing agreement this week.

CTOnews.com learned that Faraday announced an across-the-board pay cut in an email sent to employees last week, with a 25% pay cut for all employees, which is expected to last from November 1 to the end of the year. Faraday laid off dozens of employees in the future earlier this month, according to two people familiar with the matter. The company recently reported that it had $39 million in cash as of September 21, down from about $47 million at the end of August.

In August, Faraday announced that it would raise $600 million to deliver the FF 91 luxury car later this year. But on Sept. 26, Faraday said in a future filing with the Securities and Exchange Commission that it would delay the delivery of the FF 91 electric vehicle.

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