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Two Faraday Future execs have resigned prior to CES debut

By William Gayde ยท 7 replies
Dec 23, 2016
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  1. In what continues to be a tumultuous time for the auto brand, two of Faraday Future's top executives have just resigned. Their departure is especially notable given the company's scheduled commercial debut at CES in just a couple of weeks. We had previously reported on Faraday Future's rumored financial instability and possible lawsuits. FF needs to secure serious financial backers at CES or they will likely run out of money by February.

    Marco Mattiacci and Joerg Sommer, the two former executives, are well known in the industry and have had top leadership positions before. Both were key acquisitions for the Faraday Future team and brought industry knowledge as well as credibility to the brand. Their tenure was short lived however, with the two being employed for just seven and three months respectively.

    Mattiacci was president and CEO of Ferrari for their North American and Asia Pacific markets before taking the position as chief brand and commercial officer at FF. He was also a director for Ferrari's Formula 1 racing team. Sommer was vice president for product marketing and growth at FF. He was previously a Volkswagen executive and had top roles at several other European auto makers. 

    The two were hired to help straighten out the crumbling finances and inefficiencies that Faraday Future had experienced. It isn't clear if the departure was mutually agreed upon or if there were other motives. Sources have speculated to The Verge that FF may have cut the two to increase funds for the vehicle launch. If this is true, it's a last ditch effort to save a sinking ship right before a possible rescue.

    We will know in a few weeks. Stay tuned for more CES coverage surrounding Faraday Future and other car tech innovations at the show.

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    Last edited by a moderator: Dec 29, 2016
  2. Kunming

    Kunming TS Maniac Posts: 308   +187

    Maybe it's a Faraday... CAGE!
     
  3. Bigtruckseries

    Bigtruckseries TS Evangelist Posts: 583   +322

    When are Electric Vehicle companies going to get serious and design a practical, full sized car that doesn't stand out ridiculously?
     
  4. yRaz

    yRaz Nigerian Prince Posts: 2,814   +2,056

    when you stop Sh*tposting
     
    davislane1 likes this.
  5. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 8,647   +3,286

    Ferrari being just a sub brand of Fiat with them pulling all the strings and VW embroiled in the Dieselgate scandal, maybe those execs decided (correctly) it was time to jump ship except somebody forgot to tell them the lifeboats had already got the hell out of the area and FF was the only piece of flotsam they could find to cling to but I'm afraid the sharks have the scent of blood and are busy circling.
     
  6. wiyosaya

    wiyosaya TS Evangelist Posts: 3,691   +2,064

    As I see it, this car would only appeal to the super car market. I would prefer to see an electric car that is targeted to the lower end. At this point, though, battery technology is not there yet, at least as I see it.

    IMO, what is really needed is one of these companies that is targeting the higher end market engaging in serious battery research and commercialization. There are technologies out there - however - the challenge is commercializing them. That is what is really needed is one of the companies to step up and commercialize a new battery technology. The profits will follow any company that is willing to invest in battery R&D/commercialization. While Tesla is engaging in the economy of scale, it is with existing technology.

    I cannot help but think that companies that release cars like this are only looking to profit from the fad rather than seriously advance EV technology. Yes, it is OK to make a profit, however, if they were successful in commercializing a new battery tech, they would stand to make far more money in the long run than they ever will selling to a limited market like this.
     
    ForgottenLegion likes this.
  7. JaredTheDragon

    JaredTheDragon TS Guru Posts: 546   +363

    You nailed it, on all points. I think that Tesla for example is another one of these companies - the man himself would be turning in his grave if he knew they were using garbage tech to power vehicles with his name. Hell, the folks at Tesla still can't even tell us what electricity is, much less how it works or why. One would think that should be a fundamental topic over there, but nope. Their engineering is nice, but their physics is nonexistent.

    Which is exactly why the market hasn't hit the mainstream. They're pretty much just expensive toys so far, with no fundamental advances to really propel things along. Once tech catches up to current neoclassical physics, we'll start to see some progress, but that would require the mainstream science world finally admitting to the engineering world they didn't know squat and that would mean that industry would lose a LOT of money, so it won't happen. And that is why the tech hasn't grown previously, as well. Since the physics is wrong, the engineering can only take things so far.
     
  8. ForgottenLegion

    ForgottenLegion TS Guru Posts: 364   +366

    The only person I can see doing it is Musk. He seems to push the industry into making changes. Plus it really is in his marketplace although who knows for how long until space x takes up all his attention.
    Electric cars were only a fad until Tesla showed the world what an electric super car could achieve. Now everyone is in on it.

    Unfortunately I don't think anyone will even seriously try to substitute lithium until it stops becoming usable for power storage.
    It's the same way we won't stop using silicone until transistors can't be made smaller without a change.
     

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