Faraday Future in talks to raise $1b to derisk itself from main backer LeEco woes

Faraday Future in talks to raise $1b to derisk itself from main backer LeEco woes

A Faraday Future FF 91 electric car is displayed on stage during an unveiling event at CES in Las Vegas, Nevada January 3, 2017. REUTERS/Steve Marcus

Electric vehicle maker Faraday Future is planning to raise $1 billion as it seeks to protect itself from the financial woes of its main backer, China’s LeEco, a person with direct knowledge of the matter said.

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