Report:Faraday Future Receives $900 Million Investment From Tata
Tata is investing $900 million (£687m) into electric car start-up Faraday Future, Chinese media outlets have claimed.
Tata brand Tata Motors owns Jaguar Land Rover (JLR), which itself is investing heavily in the development of electric technology. Such a deal could give JLR access to Faraday Future’s advanced technology, which includes the high-tech connectivity systems developed by Chinese financial partner and electronics specialist LeEco.
The company has received more than 64,000 orders for its first model, the FF 91, a Tesla Model S rival, and is building a battery factory in Texas
The FF 91 is powered by a 130kWh battery and uses Faraday Future’s patented Echelon Inverter, which it says can transform more energy while using less space.
The car can gain 500 miles worth of charge per hour and comes with a home charger that can fill the battery to 50% in less than 4.5 hours at 240V. Faraday Future says it predicts the car will offer a range of more than 435 miles in New European Driving Cycle (NEDC) tests.
Faraday future recently was in the news for filing for bankcrukcy after LeEco CEO Jia Yueting–the face of the startup and its main financier—is battling accusations that FF’s parent company in China committed fraud during a 2010 fundraising.