UPDATE: Founding Exec: Faraday Future’s “Backbone Of The Company” Departs

NOV 1 2018 BY MARK KANE 39

More bad news from Faraday these days.

According to The Verge, Peter Savagian – Senior VP, Engineering at Faraday Future – departed the company, which could be another major blow after problems with raising capital to complete and launch its electric car FF 91.

***UPDATE: Faraday Future founding executive Dag Reckhorn has resigned, leaving Jia Yueting as the sole remaining founding executive. His departure letter explained the decision in part:

I am heartbroken to have to let you know, that I will leave FF effective today. There are legalities that force me to do so. Please do not believe that I am ditching the best team I ever worked with.”

***UPDATE: Faraday Future founding executive Nick Sampson has resigned, effective immediately. He wrote this in an email obtained by The Verge:

The company is effectively insolvent in both its financial and personnel assets, it will at best will [sic] limp along for the foreseeable future. I feel that my role in Faraday Future is no long [sic] a path that I can follow, so I will leave the company, effective immediately,” Sampson wrote. “I cannot continue knowing the devestating [sic] impact we are having on the lives of our employees, their families and loved ones as we as the [sic] ripple effect this will have on lives throughout our suppliers and the industry as a whole.”

Savagian was former chief engineer of GM’s EV1 (18 years at GM in total), and joined FF in 2016 becoming one of the key people in the company leading the development of the powertrain and battery:

““He’s the backbone of the company,” says one former employee who requested anonymity because they signed a nondisclosure agreement. “That was THE guy,” says another.”

Faraday Future sadly was forced to cut salaries and lay off workers. As we understand, without a new investor there is little chance that the company will finally deliver the product.

The article notes that there are still other execs on-board, like former director of Tesla Model S manufacturing – Dag Reckhorn.

Source: The Verge

Categories: Faraday Future

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39 Comments on "UPDATE: Founding Exec: Faraday Future’s “Backbone Of The Company” Departs"

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Daniel

Faraway future indeed

Aaron

I see the two remaining employees of the company downvoted that comment.

Mark.ca

Don’t they have a “Nothing of Faraday” to replace him with?

BoltEV (was SparkEV)

Pete Savagian is irreplaceable. This pretty much seals the coffin for FF.

wavelet

The company was never real anyway, and always operated like a complete scam. While I’ve sympathy to the lower-level workers who were laid off, I have none to any execs or people who were previously senior in the automotive industry.
The company never had any business designing and making a concept racecar, or growing beyond 100 people before it had working prototypes.

BoltEV (was SparkEV)

They did hire real talent such as Richard Kim (of BMW i3) and Pete (probably all today’s GM EV) and few other notables. This is why they were able to make a prototype and some hope, especially since Karma motors with inferior product is still on market.

ffbj

Waymo can have driverless cars test in CA: (general information)
https://finance.yahoo.com/news/waymo-gets-california-ok-test-210525077.html

Mike

I have no idea how viable their FF91is, but given that so many of the legacy companies appear to have no viable pure EVs (ground up design rather than a half-assed converted ICE), this looks like a decent buyout opportunity. Someone like Ford could absorb the IP and core staff and if they really are that great at making cars, they could refine the design and have an iPace eTron competitor in 24-36 months.

Dan F.

Could be a good idea; they certainly can’t buy Tesla!!!!

Will

Less then that.

antrik

Not so sure. Design has a major impact on manufacturing. If they really wanted to reap the benefits of their established production processes (rather than just bring the thing to production as is), they’d probably need major design refinements…

Pushmi-Pullyu

FF has never demonstrated that it has any intellectual property worth even 2¢. Keep in mind that their first so-called “prototype” was a hollow shell! You couldn’t even steer the front wheels! I guess the “FF91” prototype does actually function, but I don’t think they have ever let any outside party give it a test drive.

Pushmi-Pullyu

Well, perhaps I’m wrong about not letting any outsider do a test drive. This previous IEVs article seems to indicate that they did get a good driving review from an outside party:

https://insideevs.com/first-look-inside-faraday-futures-headquarters-plus-ff91-test-drive-video/

…altho given all the “red flag” indicators that FF is a sham company, I do wonder if this “outside” reviewer was paid by FF to give them a good review.

antrik

Stop this FUD. Failing because of unrealistic ambitions and poor judgement does not make them a sham company. They wouldn’t be spending all their money on employing hundreds of engineers and managers, building working (and well-performing) prototypes, building a factory etc. if all they wanted to do was defrauding investors. That just doesn’t make sense. (Kinda reminds me of the phony accusations against Preston Tucker…)

Pushmi-Pullyu

Why are you defending a company that is at least a sham, and likely an outright scam? A company whose “all hat and no cattle” claims were galactically inflated and wildly unbelievable right from the start?

And yeah, scam companies certainly do spend a lot of money on inflated salaries. That’s about all they actually spend money on, because that’s the purpose of an investment scam: To pay inflated salaries as long as possible, for people doing nothing. Anything else they spend money on is just window dressing, and they spend as little as possible on it.

Now, regarding FF’s supposed “factory”, do you mean this fantasy?

comment image

…or this reality?

comment image

The EV industry will be better off once FF finally goes bankrupt, because investors looking to invest in EV startups will look elsewhere. Too bad they didn’t go bankrupt years ago.

And if you think any of this is FÜD, then you need a stiff dose of reality checking.

AnonyMouse

Pu-Pu acknowledging that Faraday Future has a factory:
https://insideevs.com/faraday-future-cuts-salaries-lay-offs/#comment-1554380

antrik

I’m talking about the *real* factory they purchased and started fitting out once it became clear that their dream factory was not viable…

I’m not disputing that some of their claims were unrealistic — I’m just calling out the unfounded accusations that it was an attempt to defraud investors. This makes no sense whatsoever, considering that the founder was originally the main investor…

antrik

In 24 – 36 months, most legacy makers will have their own designs in production. Buying out a start-up at this point would only make sense if they believed they can bring their designs to production in a profitable fashion without major modifications.

David M

I thought another company held all the IP and so FF is worthless.

throwback

Correct. Their is a Cayman based Holding company that actually owns the IP for Faraday. They mortgaged everything they had for an investment form a Chinese(?) company last year.

Will

Can we buy there prototypes when go bankrupt

Taylor Marks

Perhaps. Faraday Future will likely be liquidated and their assets, including the prototypes, distributed to the different groups that are owed money. Those groups may decide it’s best to sell the prototypes.

God/Bacardi

A private collector/Museum would outbid you…

Pushmi-Pullyu

Nah, FF never had a backbone. It’s a lower form of life… much lower. 😉

TM3x2 Chris

They might have had a backbone, but they definitely lacked a brain.

TM3x2 Chris

If they finally go under, I will miss their extravagant and unintentionally entertaining reveal parties in Las Vegas.

John Doe

Some car company should really consider buying them. Get a product on the market in this decade.

robus

The price they wanted for an FF91 was just ridiculous.

Aaron

Ford? Can you hear John? Jump start your EV initiative that you’re talking about.

bro1999

Faraddy Future is like that zombie you keep blasting in a video game that refuses to die despite losing arms, legs, and chunks of its torso. You gotta think the finishing headshot is just around the corner.

robus

Sampson seems as incoherent in his exit email, as when I’ve seen him try to present. Promoted above his ability I think. But he’s right, at least, about the chaos it’s caused for the employees.

Jelloslug

Those poor bobcats…

Pushmi-Pullyu

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“Bobcats in their native habitat”

Still hands-down the funniest reader comment posted to InsideEVs, ever! And sadly, I can’t remember who posted it. Was that you, Jelloslug?

ffbj

I think that was Jay Cole. Since it was a lead in story picture.

Pushmi-Pullyu

I traced this back to the source. The photo was posted in an article by Mark Kane, but the sidesplitting caption was provided in a comment by “Ken_3”.

* * * * *

Aside to whoever gave me the -2 downvotes for revisiting one of the best IEVs jokes ever… really? Y’all must be fun at parties…

ffbj

Ah, thanks.

William

I think your J-slug “posted it” recollection, is probably spot on.

Hard to really KFS.

It’s definitely in the top ten, of the “funniest..EVer”.

Well, I don’t think anyone is surprised by this. I was always a bit hopeful, but never really expected them to succeed. I always liked the name as it was a good counterbalance to Tesla. Maybe another company could buy the name just to market their own EVs under? Then we need another company called Edison. 🙂

antrik

Frankly, the name was the first thing that made me sceptical of this “me too” company… Just like Nikola.