Faraday Future co-founder resigns, confirms company is insolvent

Sean O’Kane (The Verge), quoting from co-founder Nick Sampson’s resignation letter:

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,” 

Unless a knight in shining armour investor comes along, Faraday Future’s viability as an automotive manufacturer has come to an end. The death knell has stopped sounding, and now its time for the funeral to occur. There may still be an option for the company to transition to a ride-sharing service or rental car company, but I’ll be very shocked if its FF91 concept is ever mass-produced. Ultimately, this isn’t surprising for a company that generated hype from nonsensical buzzwords, that was dependent on a single large investor and ultimately didn’t even own the intellectual property used to develop the FF91.

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Above: An image of the concept FF91, the most significant piece of vapourware in the automotive industry this century.