Carsten Breitfeld, Chief Executive Officer, Faraday Future. Photograph by John Lehmann/Fortune, licensed under Creative Commons

Faraday Future, an electric vehicle upstart with quite a history of fiscal and operational struggles, is aiming to go public by merging with a blank-check firm, according to a statement from its CEO to Reuters on Monday. “We are working on such a deal … and will be able to announce something hopefully quite soon,” Faraday Future’s CEO Carsten Breitfeld stated on the possibility of a reverse listing. 

Faraday Future under the leadership of a new chief executive has said that it wants to raise between $800 million to $850 million to launch its first vehicle, the FF 91. In the past, the electric vehicle company had raised more than $2 billion to fund its operations but has not been able to deliver a fully fledged product amid bouts of operational and fiscal infighting. As acknowledged by the company’s CEO, “Because of the history and sometimes the bad news of the company, not everyone is really trusting us,” he said.

Faraday Future says it’ll begin delivering its first vehicle, the FF 91 electric luxury SUV, nine months after it secures the $800 million+ funding that it’s seeking and the company is apparently considering raising that money from the public markets amid a boom in blank-check mergers for electric carmakers. As a testament to that boom, two electric carmakers by the names of Canoo and Lordstown Motors have reached deals to go public by the way of reverse mergers. Xpeng, a Chinese electric carmaker is also fresh off a public listing that raised $1.5 billion to fund its operations.

Faraday Future is led by CEO Carsten Breitfeld, who was appointed in September of last year. Before taking the helm at Faraday Future, Breitfeld co-founded and served as chief executive at Byton, another electric vehicle upstart that’s backed by over a billion dollars in funding and has also hit hard times.

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