Faraday Future Gains Former Ferrari Boss For Executive Position

Faraday Future, an electric-car company, has added former Ferrari executive, Marco Mattiacci, to a top leadership post, according to a Business Insider report.

The report said the appointment of Mattiacci, "an award-winning auto executive who led Ferrari North America and Ferrari Asia Pacific between 2006 and 2014," is expected to be announced officially on Thursday.

Business Insider said the Southern California-based startup is known for its secretive agenda. "Ever since it came out of stealth mode, FF has been a tough nut to crack. The Southern California-based startup has become somewhat notorious in the tech and automotive worlds for its lofty, but secretive agenda," Business Insider's Bryan Logan wrote.

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"One piece of the FF puzzle that has remained unknown is who the company's CEO is. As of now, we still don't know," the report said.

Business Insider noted that its source call Mattiacci "a great asset for Faraday Future," stating that his assets expand "with regard to a global viewpoint of the automotive space, both in manufacturing and in representation in the two biggest markets that FF is looking toward — North America and China."

According to the report, "The company has poached some big auto industry names from BMW, Ford Motor Company (NYSE: F), General Motors Company (NYSE: GM), Elon Musk's SpaceX and several other companies." Notably, the company has Tesla Motors Inc (NASDAQ: TSLA) alumni Nick Sampson as the man overseeing the development of its vehicles.

The report added that Faraday Future is backed by a billionaire in China who runs tech-giant LeEco. The company is said to be building a $1 billion factory in Nevada, "while eyeing additional property for a second facility in California."