Faraday Future is an electric car company with a very uncertain future when it heard about building a vehicle assembly plant in Nevada. The main sponsor of the company, LeEco in China, is facing a serious financial crisis and is expected to become a Tesla Challenger eventually. But now, the company is unveiling a big name hire - Ulrich Kranz, who previously led BMW's electric "i" series vehicle program, joined the Chief Technical Officer.
In addition to Kranz, Faraday has become the new leader in research and development, manufacturing, engineering and purchasing operations, and is known by the company. He joined the company after 30 years of experience in BMW. We have spent the past 10 years including BMW's first dedicated EVs i3 and i8. Prior to that, Kranz led the MINI line and developed in many areas of the automotive manufacturer from its previous role.
The long history of Kranz in German automakers is even more noteworthy for the sudden shift to untested and besieged FFs. He jumps from stunt hiring to stunt hiring and is not a very cool climber. Still, there is no doubt that Faraday thinks this is a strategic move.
Faraday also says that "the end is nearing" the turn-key manufacturing option after being forced out of custom-built Nevada facilities. Going to an existing manufacturing facility allows you to add and maintain runways while trying to bring the FF 91 sports sedan to market. Nonetheless, the employment of Kranz is an exciting development.