The car is produced at Toyota Motor Corp’s Motomachi plant near its headquarters on a shared assembly line with gasoline cars and hybrids. Both the current and potential production numbers include those of the Subaru Corp Solterra, which is made on the same platform.

The increase would see Toyota add production at another plant near its headquarters, the Takaoka factory, said the three people, who spoke on condition of anonymity because the information was not public.

[...]

The potential ramp-up in production comes as the automaker has faced criticism for not moving faster to embrace all-electric cars and pushing hybrid technology instead. It has launched a review of its EV strategy, Reuters reported this week.

As part of that review - which could result in a more aggressive roadmap for future electric vehicles based on technologies that promise to lower cost and improve performance - it has also suspended development work on some of the 30 new EV models it announced last year and planned to launch by 2030, Reuters reported.

Faraday has seen its cash reserves dwindle rapidly. It recently reported having $39 million in cash as of Sept. 21, down from around $47 million at the end of August.

The company said in the emailed memo, which was viewed by Bloomberg News, that employees will be granted restricted stock units, or RSUs, equivalent to the amount being cut from their salary and which will vest in December. Faraday also offered employees the option of taking a larger salary cut in exchange for more valuable RSUs, though it noted that any RSUs granted will be forfeited if the employee is terminated.

Mercedes Chief Financial Officer Harald Wilhelm, while presenting third-quarter results, said the transaction was not expected to give rise to any further significant effects when it comes to the group’s profitability and financial position beyond those reported in previous quarters.

“Final completion of the transaction is subject to the authority’s approval and the implementation of contractually agreed conditions,” he added.

[...]

“The main priorities in agreeing to the terms of the transaction were to maximize the fulfillment of obligations to clients from Russia both in terms of after-sales services and financial services, as well as preserving jobs of employees at the Russian divisions of the company,” Natalia Koroleva, CEO of Mercedes-Benz Russia, said in a statement.

Mercedes suspended manufacturing in Russia in early March.