Faraday Future has filed a lawsuit against its former CFO Stefan Krause for stealing trade secrets and employees. Krause had created EV start-up Evelozcity after leaving FF and Faraday’s ex-CTO Ulrich Kranz also followed suit.
Faraday Future claims in a lawsuit filed today that former CFO Stefan Krause approached FF employees to follow him to his Evelozcity project shortly before he left the company. FF also alleges that Krause’s new startup may have been involved in the theft of trade secrets.
While the lawsuit filed at a court in California names Evelozcity as the only defendant, Faraday Future is also pursuing former CTO Ulrich Kranz via JAMS Century City Resolution Center, according to an internal staff email that has been obtained by The Verge.
The publication also received a statement from a representative for Evelozcity saying:
“We do not have, nor do we need, any technology from Faraday Future. This complaint continues Faraday’s pattern of hurling false and inflammatory accusations against us. We will respond to the many recklessly inaccurate allegations in this desperate lawsuit at the appropriate time.”
Krause left Faraday Future in December 2017. As CFO he was involved in winning backers but they refused to work closely with FF’s controversial Chinese investor Jia Yueting. Krause then went on to found said Evelozcity with the same investors who had refused to invest in Faraday (we reported). Evelozcity has yet to show a design of its own.
Yueting, however, is facing prosecution himself. A Chinese court had seized all his assets in order to pay outstanding debts (we reported). The future of Faraday looks accordingly bleak and recent news suggest that the company is running nothing more than a ghost operation with a guard watching over a deserted factory floor in California.