Faraday Future Replaces CEO in Shakeup at EV Startup

(Bloomberg) — Faraday Future Intelligent Electric Inc. is replacing CEO Carsten Breitfeld amid an overhaul of the company’s board of directors. 

The Los Angeles-based EV startup said in a filing Monday that its board voted Saturday to remove Breitfeld, a former BMW executive, from his post and replace him with Xuefeng Chen, who currently leads Faraday’s China division. The board has asked Breitfeld to resign following a “comprehensive evaluation of the performance of the company since it went public in July 2021,” the company said. Breitfeld didn’t immediately respond to a request for comment.