EV Startups Are Wilting in Harsh Light of Public Eye (Correct)

Electric vehicle startups whose valuations soared after reverse mergers are facing greater scrutiny as public companies, triggering turmoil in their boardrooms.

A pair of would-be rivals to EV market leader Tesla Inc. have disclosed departures by senior executives for allegedly misleading investors. Faraday Future Intelligent Electric Inc., which went public via a blank-check company in July 2021, said late Tuesday its chairman and top lawyer would step down as a result of the findings of an internal probe into accusations of fraud. It also suspended its vice president of capital markets without pay until further notice.

An unrelated EV ...