E-cars manufacturer to get almost $1B via an indirect STO

Faraday Future, the electric car startup aiming to challenge Tesla, may secure a $900 million funding package from EVAIO Blockchain, releasing the company from exacerbating cash pressure.

The funding will be invested over three years via indirect STO (security token offering), according to Patrick De Potter, CEO of EVAIO Blockchain. “FF and EVIAO will now start up the discussion for details of the plan,” he noted.

EVAIO said they were aiming to build a blockchain for electric vehicles and successfully completed EVA token private sale earlier this year. Most of the team members of EVAIO are ex-Tesla managers combined with specialists in crypto and blockchain.

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