Faraday Future is falling fast, it seems. The electric startup company has sold its headquarters in Gardena, California and is leasing it back.
The automaker has sold the property to real estate company Atlas Capital on March 8. The company is now leasing it back to Faraday. The sale and leasing prices were not revealed, but the property originally purchased by Faraday in 2014 for around $13 million.
This is only the most recent in cost-cutting efforts by the company. Late last year, the Faraday cut wages and staff numbers by 75 percent. The company also announced a reduction of non-core assets just last week, after selling their Las Vegas plant location to help bankroll production of their first car model.
Faraday Future is a total mess right now. At least that's how it looks to consumers like us. As welcome as I am for more competition in the electric vehicle market, maybe Faraday Future isn't going to be part of it.
Faraday Future Sells Headquarters to Real Estate Agency, Leasing it Back
Posted By: LizardRock | 0 Comment(s) Posted On: Mar 21, 2019 @ 04:13 PM