Faraday raised another $135 million in the future. Jia Yueting thanked FF shareholders and investors for their trust and support.
CTOnews.com, February 6 (Xinhua)-- Faraday Future (Faraday Future) announced today that it has received financing of US $135 million (currently about RMB 917 million) to raise all the necessary funds for FF 91 Futurist to start mass production.
Jia Yueting thanked FF shareholders and investors for their trust and support for this new development on Weibo.
After pushing for a change in the top-level governance structure, FF Partners helped FF complete a $135 million financing to meet the funding needs of SOP to deliver FF 91 Futurist, a "pinnacle product" of "Smart Technology luxury" to "pinnacle users" around the world. I would like to thank FF shareholders and investors for their trust and support. I hope you can vote in support of the proposed IPO at the special shareholders' meeting, which is the key to the full implementation of financing and the realization of long-term strategic goals.
Faraday had previously issued a financing announcement that the new secured instrument provided a commitment of $52 million (currently about 353 million yuan), with a potential total of up to $600m (currently about 4.074 billion yuan).
"raising $135 million is an indispensable resource guarantee for the final mass production delivery of the FF 91 Futurist sprint, and the acquisition of these additional funding commitments provides a boost to FF's goal of reaching the SOP milestone in March 2023." Chen Xuefeng, FF global CEO, said, "with these expected funds in place, we will achieve the mass production delivery of FF 91 Futurist with high quality and high product power as soon as possible."
▲ FF 91 | Picture Source: Faraday Future CTOnews.com has learned that the FF ieFactory California plant will produce FF 91, an electric car for North American and Chinese markets, after it was officially announced that it would hire more than 350 new employees at FF ieFactory California. Faraday Future has previously said that mass production of the FF 91 Futurist electric car is expected to begin at the end of March 2023 and is expected to be offline in early April and delivered by the end of April.
In addition, Faraday has reached a non-binding cooperation framework agreement with the Huanggang municipal government in the future to promote the strategic landing of the company's China-US home market.
Future Faraday data show that the FF 91 Futurist powertrain has 1050 horsepower, EPA certified mileage of 381mph (about 613.16 km), 100km acceleration time in less than 3 seconds, and its range is based on a fully equipped vehicle.
