Chinese media claims Tata Motors has invested $900 million in Faraday Future
Gasgoo claims Tata Motors has invested $900 million (£687m) to buy 10% stake in the troubled American electric car company Faraday Future. The American company is backed by Chinese entrepreneur Jia Yueting and has had a rough last year which raised questions about its existence.
Tata Motor owned Jaguar Land Rover (JLR) has been investing in electric car technology and this investment could help JLR to access to Faraday Future’s smart Echelon Inverter technology which helps it store more energy in lesser space. It would also give Tata and JLR high-tech connectivity systems developed by Chinese financial partner and electronics specialist LeEco.
Faraday Future has already bagged 64,000 orders for its 1050 hp model powered by a 130 kWh battery, FF 91 which, is capable of hitting 6o mph in just 2.39 seconds. FF 91 is capable of a full charge in just 4.5 hours through its home charger at 240v. Faraday also claims that its electric car is capable of 435 miles in New European Driving Cycle test.
FF has been building a battery factory in Texas, which took a hit when AECOM the construction partner claimed a delay in payment. Faraday Future battery factory is delayed by over a year and is bound to complete only in 2019. This investment might point the troubled carmaker in the right direction and relieve some pressure.