On July 22nd, Faraday Future (FF) successfully completed its IPO on NASDAQ through a reverse merger with a shell company, and its stock code was changed from PSAC to FFIE. Despite spiking more than 40% during pre-market trading, the stock closed up by just over 1%.
Although founder Jia Yueting is a visionary product manager and angel investor, Faraday Future, which has been established for seven years, has yet to turn a profit. He has long pursued the concepts of the “third internet space” and “ecosystems”, but has now become a model for other new forces’ PPT presentations.
The first production vehicle under FF, also its flagship model FF 91, has been delayed numerous times, but with the IPO resolved, Jia Yueting announced that FF will start mass production within 12 months.
Looking back at the FF 91, the first model to be released will be the top-of-the-line Futurist version, which can be reserved via the Faraday Future app for a deposit of RMB 50,000. With three electric motors producing 1050 horsepower, this car can accelerate from 0 to 60 mph in just 2.4 seconds, while the 130 kWh fully-immersed liquid-cooled battery pack offers a NEDC-rated range of over 700 km and powerful continuous charging and discharging performance.
With a 3,200-mm wheelbase, 150-degree “zero gravity” seats inspired by NASA spacecraft, and a wireless modem that supports three 4G networks simultaneously, the FF 91 aims to provide the highest quality mobile office space for top-tier executives.
Currently, the only FF offline experience store is located on 59th Street in Manhattan’s Upper East Side, but the company will expand its sales network in China in the future. Faraday Future had previously stated on April 15th that it would cooperate with Evergrande Group to expand its sales business in China.
In addition, the investment intentions of Zhuhai State-owned Assets Committee have failed to materialize due to foreign exchange and other factors, but the funds have been transferred to third parties.### $2 Million Luxury EV, Will Faraday Future Make a Comeback?
Do you think a $2 million luxury electric vehicle will have a place in the market? Will Faraday Future be able to make a comeback? We wait and see. In the meantime, let’s congratulate Mr. Jia on taking a step closer to his dream and coming back to China.
🔗Source: Faraday Future
This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.