Although Faraday Future’s business situation is worrisome, Jia Yueting seems to know the solution every time. A few days ago, it has been announced that the financial difficulties FF91 mass production delivery in trouble Faraday Future appeared a turnaround, the majority shareholder FF Top Holding LLC (FF Top) and FFIE on convertible term loan financing formally signed a non-binding investment letter of intent.
This round of financing includes senior secured convertible notes with a potential amount of up to $600 million (approximately RMB 4 billion).
In other words, Faraday Future can get up to 40 has RMB, which should be enough to ensure the delivery of FF91.
This morning, Faraday Future official microblogging posted and showed the Hanford, California manufacturing plant, announcing that it will be named “FF factory California” and will produce the FF 91, the ultimate smart technology luxury electric car, for the North American and Chinese markets.
Faraday Future global CEO Dr. Biff Kang said, “The factory has body lines, electrophoresis systems, painting and baking ovens and related transfer facilities in place to prepare for mass production. At the same time, we continue to produce and build quasi-production vehicles for final test validation, paving the way for subsequent mass production efforts.”
For the body shop, FF is nearing the completion of the 6th manufacturing milestone, which is the completion of all infrastructure construction and equipment installation in the main vehicle manufacturing area. The robot arm in the body shop is also in the final stages of commissioning and validation to support mass production.
Officials say FF continues to produce the quasi-production vehicles for final vehicle testing and validation work, ensuring that the FF 91 project is on track for delivery in the third or fourth quarter of 2022.
