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EVAIO Plans to Invest Faraday Future $900 Million

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This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

According to Patrick De Potter, CEO of EVAIO Blockchain, EVAIO has contacted Faraday Future to invest 900 million USD over 3 years via indirect STO and now is connected with FF’s financial partner Stifel to start the discussion of the detailed plan.

Patrick said on LinkedIn: "We have been following the electric vehicles developed by Faraday Future when we worked at Tesla. FF91 is one of our favorite EVs." If this cooperation finally achieves, Faraday Future may be able to obtain support from the crypto world in the next few years.

The blockchain company EVAIO said they were aiming to build a blockchain for electric vehicles and successfully completed EVA token private sale earlier this year. Most of the team members of EVAIO are ex-tesla managers combined with specialists in crypto and blockchain

Shortly before, Faraday Future (FF) has signed a contract with US investment banking firm Stifel, Nicolaus & Co as it explores strategic options, including debt and equity financing. Stifel will serve as FF’s financial adviser and assist FF with future financing efforts. Earlier this week, the EV maker’s co-founder Nick Sampson resigned and said in his resignation letter that “the company [FF] is effectively insolvent in both its financial and personnel assets”.

The struggling EV maker was able to obtain an emergency relief from the Hong Kong International Arbitration Centre to seek funding through other sources other than its main investor Evergrande Health.

Before that, the electric-vehicle startup Faraday Future is attempting to cancel a $2 billion deal that would give a 45% ownership stake to the Chinese healthcare company Evergrande Health Industry Group, according to a filing on the Hong Kong stock exchange first reported by Reuters. Faraday's desire to end the deal comes as it struggles to pay vendors and suppliers after spending the first $800 million Evergrande had planned to invest in it.

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