Faraday & Future Inc. is in talks to go public through a merger with Property Solutions Acquisition Corp., a blank-check firm, according to people with knowledge with the matter. The special purpose acquisition company is seeking to raise more than $400 million in equity to support the transaction, which is slated to value the combined entity at around $3 billion, the people said. As with all deals that haven't been finalized, it's possible that terms change or talks fall apart.

A Faraday spokesman didn't respond to multiple requests for comment. A Property Solutions representative declined to comment.