[Bhatman510]

https://www.autocar.co.uk/car-news/i...-reports-claim

The claim is Tata purchased 10 percent stake into FF (since its apparently worth 9B USD)

JLR/Tata has a great line of products and there EV program is moving...this helps maybe?

[shortbread]

Tata is investing $900 million (£687m) into electric car start-up Faraday Future, Chinese media outlets have claimed.

Chinese automotive news aggregator Gasgoo claims media sources in China are reporting that the $900 million is for a 10 percent stake in Faraday Future, thus valuing the electric car startup at $9 billion.

Tata brand Tata Motors owns Jaguar Land Rover (JLR), which itself is investing heavily in the development of electric technology. Such a deal could give JLR access to Faraday Future’s advanced technology, which includes the high-tech connectivity systems developed by Chinese financial partner and electronics specialist LeEco.

The deal would also mark a big step in the right direction for Faraday Future after it recently revealed that two of its leading figures had departed.

The company has received more than 64,000 orders for its first model, the FF 91, a Tesla Model S rival, and is building a battery factory in Texas, but plans took a hit earlier this year when construction contractor AECOM claimed a payment of $21m (£16m) was late.

Faraday Future has since scaled back its plans for the site and delayed its completion date by a year to 2019.

The FF 91 is powered by a 130kWh battery and uses Faraday Future's patented Echelon Inverter, which it says can transform more energy while using less space.

The car can gain 500 miles worth of charge per hour and comes with a home charger that can fill the battery to 50% in less than 4.5 hours at 240v. Faraday Future says it predicts the car will offer a range of more than 435 miles in New European Driving Cycle (NEDC) tests.

While it may seem like Tata is getting the short end of the stick with a 10% stake, the deal, if real, will likely give the Indian automaker access to Faraday Future’s electric car technology.

Faraday Future remains hopeful of starting deliveries of the FF 91 in 2019. The 1,050-horsepower, 300-mile electric car was first shown in January at the 2017 Consumer Electronics Show. Since then Faraday Future has been accepting $5,000 (refundable) deposits for the car whose final price is yet to be confirmed but is expected to start in the 6-figure range.

WOW!!

sources:

https://www.motorauthority.com/news/...faraday-future

https://www.autocar.co.uk/car-news/i...-reports-claim

[shortbread]

There's more to it than just buying a 10% stake. Tata paid HALF of what it paid acquiring JLR, for just 10% in a company that is yet to build and sell cars!

There must be something that common folk do not know about or Tata execs bust be smoking really powerful greens!

This must either include instant transfer of Faraday's technology for use in future Tata/JLR products or the FF 91 will be rebadged as a JLR product. Hopefully there will be more revelations soon.

[Steeroid]

Originally Posted by shortbread

There's more to it than just buying a 10% stake. Tata paid HALF of what it paid acquiring JLR, for just 10% in a company that is yet to build and sell cars!

There must be something that common folk do not know about or Tata execs bust be smoking really powerful greens!

JLR had a past.

Faraday (or any EV firm) is the future.

You pay for the opportunity to shape the future.

[Bhatman510]

Originally Posted by Steeroid

JLR had a past.

Faraday (or any EV firm) is the future.

You pay for the opportunity to shape the future.

JLR has a decent EV program, there planning to launch there own EV car similar to the Chevy Bolt/Tesla Model 3/Nissan Leaf. There also in Formula E with there own motor and team. FF has been nothing more than a large dumpster fire with high level people leaving and coming. Even there own race team has lowered presence.


If JLR/Tata is interested in FF its probably for the self-driving capabilities/tech and also the possible factory there developing down in Southern California. (Not Nevada).

[maddy42]

I am sceptical on this but if true i kinda trust Tatas instincts after the JLR deal. There must be some value in purchasing a company with the tech rather than develop in house. FF has been a dumpster fire with a lot of execs coming and going. Plus their financials has been an opaque sheet of paper, but they do have a factory in nevada which may sound like a lucrative deal.

Only time will tell. Maybe a good deal or just burning cash.

Maddy

[GTO]

Impossible, Faraday Future would never clear Tata's due diligence processes. KPMG even refused to audit its books - source.

The company has been mired in controversy with big promises that were never met, senior management resignations, failed demonstrations, courts freezing its financiers assets and what not.

It's got trouble written all over it. Under the new chairman, Tata Motors wants to reduce its distractions, not add to them. It's also a company that's now more careful with its money.

[n.devdath]

Originally Posted by GTO

It's got trouble written all over it.

To add to it, TML has been playing with EV options for a long time now, both in their CV and PV segments and have enough in-house R&D capability to take on the others in the Indian market.

Remember their recent EV contract for the electric sedan supply to GoI?

They do not need Faraday Future, and Chandra is out to make TML a no-nonsense Co, the deal is out of question.

[SmartCat]

And we have nothing on CNBC either. Even rumors of $900 million deal makes it to business news. It does look like "GAS GOO" (Chinese media outlet) is just speculating.

[musclecar]

Fake news! I checked with my friends at TML. No one had any clue about it. Also nothing on the internet about the so-called Deal.

[shortbread]

Now Jalopnik has picked up on this and what's interesting is the following:

Again, it’s not out of the question. But it would be a surprise, giving Faraday a much-needed lifeboat to push along toward its goal of finishing the FF 91, its futuristic electric car, and launching production by the end of 2018.

But if something’s in the works, Faraday isn’t letting anything on. Mike Cooperman, Faraday’s director of PR and communications, said he “can’t comment at this time.”

“Will keep you in the loop if we have an announcement,” he said.

A curious observer might expect Tata to provide insight if it wasnn’t true. But the Indian automaker’s also keeping quiet.

“We do not have anything to comment in this regard,” Suresh Rangarajan, Tata’s head of corporate communications, told Jalopnik in an email.

Stranger things have happened, I suppose. But, if true, the timing of this couldn’t be any more unusual.

Source: https://jalopnik.com/jaguar-land-rov...est-1820436743

[kaviprem]

Originally Posted by musclecar

Fake news! I checked with my friends at TML. No one had any clue about it. Also nothing on the internet about the so-called Deal.

Even if this is true, most of the folks working in either of the organisation would know about such partnership or buy-out. I state this from my "partnership and/or buy-out" experience, not on air
So, unless your friend is on the "decision making board" or one of the executives, it would be close to impossible to be aware of such deals happening across organisations.

Prem.

[shortbread]

A Tata Motors spokesperson said,
” The news is not true and hence we do not have any comment”

http://www.dnaindia.com/business/rep...future-2560199

[GTO]

Originally Posted by GTO

Impossible, Faraday Future would never clear Tata's due diligence processes. KPMG even refused to audit its books

To understand the craziness & a bit of history about Faraday, check this awesome article from Jalopnik.

There is no way Tata is investing in such junk.

[Muski]

Originally Posted by GTO

There is no way Tata is investing in such junk.

I concur, it would be very unlike Tata to invest here. Faraday's future is hardly a Tesla killer, its not even an automobile company yet, it is just a concept design company at the moment with only milestone being it poached a lot of technical staff from Tesla, which I think have moved on by now.

https://www.youtube.com/watch?v=HA18oyyG-xg

https://www.youtube.com/watch?v=AZBh8uCdxXk