Faraday Future announces the completion of financing, Jia Yueting's FF91 is ready for mass production
Faraday Future announced today that it has completed the expansion and renewal of its 2019 Advanced Bridge Financing Loan Program. The loan will be used to support the final production of its flagship electric vehicle FF91 project and continue to develop the FF81 for the mass market. According to the official details, the revised bridge financing loan includes up to 45 million US dollars of new senior financing, and will expire in October 2021.
According to FF's mass production listing plan, FF91 will start production approximately nine months after successfully completing a round of financing (expected in the short term).
In addition, the development preparations for the previously released FF81 electric vehicle, future models and next-generation core technologies will be completed as soon as possible.
Bi Fukang, who joined FF as CEO last year, also stated that the company will deliver its first electric luxury car SUV, the FF91, 9 months after obtaining financing, and start mass production 12 months after such a deal is concluded.
Faraday Future has stated that it hopes to raise 800 million to 850 million US dollars to launch FF91.
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