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Faraday Future avoids eviction at its LA headquarters — for now

TechCrunch · 1y

Faraday Future, an electric vehicle startup, has reached an agreement with its landlord, Rexford Industrial, to temporarily stay in their Los Angeles headquarters. This agreement is conditional on Faraday Future meeting certain requirements and making specified payments. The company is facing financial troubles and reported having $8.5 million in cash as of September 2023. Faraday Future is also dealing with a separate case where it allegedly stopped making lease payments and owes $127,311.16 to the landlord of another office space in San Jose.