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Faraday Future names former BMW i8 chief as new CEO

The embattled electric car startup has a new leader.

Perhaps a new CEO will help the FF 91 become a reality.

Faraday Future

Faraday Future, once an electric car startup darling, has in the past few years fallen from grace. The FF 91 electric car is well past schedule for production and countless financial woes have set the company back.

The California-based startup with Chinese backing may be prepared to turn a new page, as it announced Carsten Breitfeld has joined as its global CEO. He replaces Faraday founder Jia Yueting, who will move to a chief product and user officer role.

Industry aficionados may recognize Breitfeld's name immediately. He oversaw the BMW i8 project at the German automaker and served as vice president over the vehicle program. Additionally, he was once CEO of and co-founded another electric car startup: Byton.

The veteran car executive said he's thrilled to join Faraday and hopes to help Jia realize "his vision for how the mobility eco-system will transform the industry." Jia isn't going to fade away, though. In his new role, he'll be responsible for artificial intelligence, product definition and implementing Faraday's internet-focused ecosystem for production cars.

Breitfeld's appoitment comes after a few tumultuous years at the fledgling EV company. Aside from flirting with going under twice, the company has placed hundreds of employees on unpaid leave and burned through investment cash at an incredible rate. Its previous lifeline investment, from a Chinese real estate conglomerate, is no longer, after the two clashed in court. Faraday Future has since sold its LA headquarters to raise money, halted all construction plans for new factory in Nevada (and tried to sell the land), lost numerous key executives and is now undergoing a total restructuring.

Should the company's first car make it to production, the FF 91 will hit the streets with a touted 1,050 horsepower and a quoted range of 379 miles.

Now playing: Watch this: Faraday Future gives us an exclusive ride in the FF 91
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