EV startup Faraday Future refutes claims made by top shareholder

Article content

Faraday Future Intelligent Electric Inc on Monday refuted claims made by the electric vehicle startup’s largest shareholder regarding its rights as a stakeholder.

Earlier this month top shareholder FF Top called for a special meeting to remove Brian Krolicki from Faraday Future’s board.

Article content

The EV startup said FF Top breached a shareholder agreement by soliciting investors to vote in favor of removing Krolicki.

FF Top did not immediately respond to a request for comment.

Faraday Future has called for a special shareholder meeting, but a date hasn’t been set yet.

FF Top, which has a stake of about 36% stake in the company, said in a regulatory filing last week that it had asked Faraday Future to provide “certain books and records” for one or more proxy proposals it was contemplating. (Reporting by Akash Sriram in Bengaluru)