Faraday Future, the electric vehicle manufacturer, has announced a significant investment of $105 million, bringing renewed hope for producing and delivering their highly anticipated FF 91 model. This comes shortly after the company faced delays in deliveries due to the need for additional funding.
The investment comprises $90 million from ATW Partners, an existing investor, and the participation of Senyun International, providing an additional boost to the financial backing. Furthermore, $15 million, already committed to Faraday Future, will now be expedited to support the production and delivery of the FF 91.
Investor Support Drives Faraday Future's Strategic Vision
Faraday Future CEO, Xuefeng Chen, expressed gratitude for the unwavering support shown by their investor base, emphasizing their belief in the company's vision and vast market potential.
This funding is critical to achieving Faraday Future's immediate and medium-term strategic goals. Chen further noted their commitment to moving forward and fulfilling their three-phase delivery plan for the FF 91 Futurist Alliance.
In addition to the recent investment, independent investment fund Metaverse Horizon Limited has made funding contributions totaling $25.2 million as part of their previously announced commitment of $100 million in unsecured notes.
Metaverse Horizon Limited has waived closing conditions, demonstrating its confidence in Faraday Future's future success. The company actively seeks additional funding sources to solidify its position. Although FF 91 deliveries officially commenced on May 31, they were temporarily halted shortly thereafter.
The FF 91 is currently available in two variants: the 2.0 Futuristic Alliance, starting at a remarkable $309,000, and the 'regular' Futurist, priced from $249,000. Customers investing in this premium electric vehicle can expect a range of approximately 381 miles (613 km), an astounding 1,050 horsepower, and a jaw-dropping acceleration of 0 to 60 mph (0 to 96 km/h) in just 2.2 seconds.
With the newly secured investment, Faraday Future is optimistic about resuming FF 91 deliveries and pushing forward with their ambitious plans. The company remains dedicated to revolutionizing the automotive industry by providing cutting-edge electric vehicles that redefine performance and sustainability standards.