Faraday Future gets a lifeline to raise up to $350 million

Moribund EV startup Faraday Future could receive up to a $350 million lifeline to help launch its first vehicle, according to a regulatory filing.
The company said Monday it has signed a deal with an affiliate of Yorkville Advisors Global for an equity line of credit up to $350 million. The financing, which entails an initial commitment of $200 million from the New Jersey-based investment firm, will be “key” to producing the company’s long-awaited first model, the FF91 sports car. As of Monday, Faraday Future had a market cap of $234 million.
“This new financing facility is a key part of our s

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