Faraday Future\, strapped for cash\, explores strategic options

Faraday Future, strapped for cash, explores strategic options

Faraday Future's FF91.

Faraday Future said on Thursday it was exploring strategic options, including debt and equity financing, two days after the Chinese electric vehicle developer's co-founder Nick Sampson stepped down.

The company said it "can now welcome potential investors from around the world".

The move comes as the cash-strapped company, which has ambitions to overtake Tesla, is embroiled in a bitter legal fight with its main investor, China's Evergrande Health Industry Group, after a planned $2 billion investment went sour.

Last week, Faraday Future got relief to seek financing from sources other than Evergrande Health, according to a interim ruling by a Hong Kong arbitration court.

Faraday Future has retained Stifel, Nicolaus & Co as its financial adviser.