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Faraday Future distances itself from LeEco,”Technically, there is no legal relationship” says company exec
California-based automotive startup and EV hopeful, Faraday Future, has begun to distance itself from any association with principal financier LeEco as the company seeks funding to support production of its 1000+ horsepower FF 91 electric crossover.
“Technically, there is no legal relationship with LeEco,” Krause told CNET’s Tim Stevens in an interview. “They are in one part of our business. They are a supplier and if we would lose them as a supplier there are many suppliers.”
Krause also noted that should LeEco cease to exist in the near future, investors and employees alike need not fear as they are two completely different companies.
The statement by Faraday’s executive follows reports that LeEco has been on thin ice for months. Since the resignation of former CEO and source of the bulk of Faraday’s initial funding, Jia Yeuting (also known as YT), LeEco has laid off nearly 70 percent of its US workforce, and was even called a “Ponzi Scheme” by Chinese internet giant Tencent co-founder Zeng Liqing.
“If you’re not able to spot an apparent Ponzi scheme [like LeEco], you’re neither worthy of working in the investment industry nor suitable for entrepreneurship,” Zeng said in a lengthy post on Chinese social media platform WeChat.
Despite its financial woes, Faraday COO and CFO Stefan Krause remains optimistic, resilient and confident in the company’s endeavors. Faraday continues to detangle themselves from LeEco.
Shifting away from the toxicity of their former financier, Faraday now looks to keep pace with their proposed production schedule of their first production crossover, the FF 91. In the wake of suspending their construction of a Nevada production facility, Faraday recently leased an ex-Pirelli tire plant in Hanford, CA for the production site of the FF 91.
It’s no secret that the EV industry is an exciting and potentially lucrative space to be investing, that’s why Faraday remains resilient in their funding efforts. Faraday still seeks an additional $1 billion in funding to continue development of the FF91, and Krause remains steadfast in his efforts.
“I’ve not had a single investor say no,” Krause said. “Nobody doubts that this industry has a great future. We are not in a dying industry, I think we are in the right place at the right time. We just have to battle a financial weakness right now.”
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Tesla’s Sweden standoff draws UAW support as unions widen pressure campaign
In a post shared on social media, the United Auto Workers stated that it stands with IF Metall workers who are striking against Tesla Sweden.
The United Auto Workers (UAW) has publicly expressed solidarity with Swedish union IF Metall as its strike against Tesla continues, adding international attention to the extended labor dispute in the European country.
UAW supports IF Metall’s strike
In a post shared on social media, the United Auto Workers stated that it stands with IF Metall workers who are striking against Tesla Sweden. UAW Region 8 Director Tim Smith stated that the union fully supports IF Metall’s efforts to secure a collective bargaining agreement with the automaker.
“UAW stands with IF Metall workers on strike against Tesla, fighting for a collective bargaining agreement. UAW Region 8 Director Tim Smith pledged the UAW’s full support and solidarity,” the UAW International Union stated in its post.
IF Metall launched its strike against Tesla Sweden in late 2023 over the electric car maker’s refusal to sign a collective agreement. The action has since been supported by other unions through sympathy strikes affecting ports, logistics, and service operations.
Tesla Sweden has maintained that it complies with Swedish labor laws and offers competitive pay and benefits, though the company has not publicly commented on the UAW’s latest show of support.
Tesla owners get union attention
Pro-union groups in Sweden have recently expanded their outreach beyond Tesla’s facilities and workforce. Activists have begun distributing informational leaflets against the EV maker directly on Tesla vehicles parked across Stockholm, as per a report from Swedish outlet Dagens Arbete.
The yellow slips, designed to resemble parking notices, urge regular Tesla owners to pressure the company into signing a collective agreement. Organizers involved in the effort have argued that the leaflets are intended to simply inform consumers rather than single out individual owners. When owners are present, however, activists stated that they explain the dispute verbally.
Tesla has not issued a public response regarding the leaflet distribution campaign as of writing.
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Starlink goes mainstream with first-ever SpaceX Super Bowl advertisement
SpaceX used the Super Bowl broadcast to promote Starlink, pitching the service as fast, affordable broadband available across much of the world.
SpaceX aired its first-ever Super Bowl commercial on Sunday, marking a rare move into mass-market advertising as it seeks to broaden adoption of its Starlink satellite internet service.
Starlink Super Bowl advertisement
SpaceX used the Super Bowl broadcast to promote Starlink, pitching the service as fast, affordable broadband available across much of the world.
The advertisement highlighted Starlink’s global coverage and emphasized simplified customer onboarding, stating that users can sign up for service in minutes through the company’s website or by phone in the United States.
The campaign comes as SpaceX accelerates Starlink’s commercial expansion. The satellite internet service grew its global user base in 2025 to over 9 million subscribers and entered several dozen additional markets, as per company statements.
Starlink growth and momentum
Starlink has seen notable success in numerous regions across the globe. Brazil, in particular, has become one of Starlink’s largest growth regions, recently surpassing one million users, as per Ookla data. The company has also expanded beyond residential broadband into aviation connectivity and its emerging direct-to-cellular service.
Starlink has recently offered aggressive promotions in select regions, including discounted or free hardware, waived installation fees, and reduced monthly pricing. Some regions even include free Starlink Mini for select subscribers. In parallel, SpaceX has introduced AI-driven tools to streamline customer sign-ups and service selection.
The Super Bowl appearance hints at a notable shift for Starlink, which previously relied largely on organic growth and enterprise contracts. The ad suggests SpaceX is positioning Starlink as a mainstream alternative to traditional broadband providers.
Elon Musk
Tesla engineers deflected calls from this tech giant’s now-defunct EV project
Tesla engineers deflected calls from Apple on a daily basis while the tech giant was developing its now-defunct electric vehicle program, which was known as “Project Titan.”
Back in 2022 and 2023, Apple was developing an EV in a top-secret internal fashion, hoping to launch it by 2028 with a fully autonomous driving suite.
However, Apple bailed on the project in early 2024, as Project Titan abandoned the project in an email to over 2,000 employees. The company had backtracked its expectations for the vehicle on several occasions, initially hoping to launch it with no human driving controls and only with an autonomous driving suite.
Apple canceling its EV has drawn a wide array of reactions across tech
It then planned for a 2028 launch with “limited autonomous driving.” But it seemed to be a bit of a concession at that point; Apple was not prepared to take on industry giants like Tesla.
Wedbush’s Dan Ives noted in a communication to investors that, “The writing was on the wall for Apple with a much different EV landscape forming that would have made this an uphill battle. Most of these Project Titan engineers are now all focused on AI at Apple, which is the right move.”
Apple did all it could to develop a competitive EV that would attract car buyers, including attempting to poach top talent from Tesla.
In a new podcast interview with Tesla CEO Elon Musk, it was revealed that Apple had been calling Tesla engineers nonstop during its development of the now-defunct project. Musk said the engineers “just unplugged their phones.”
Musk said in full:
“They were carpet bombing Tesla with recruiting calls. Engineers just unplugged their phones. Their opening offer without any interview would be double the compensation at Tesla.”
Interestingly, Apple had acquired some ex-Tesla employees for its project, like Senior Director of Engineering Dr. Michael Schwekutsch, who eventually left for Archer Aviation.
Tesla took no legal action against Apple for attempting to poach its employees, as it has with other companies. It came after EV rival Rivian in mid-2020, after stating an “alarming pattern” of poaching employees was noticed.