Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, June 27, Faraday Future now announces an additional funding commitment of US $90 million (currently about RMB 652 million) in addition to the original financing commitment of US $15 million (currently about RMB 109 million).

According to reports, this round of investment is led by the existing investor ATW Partners Fund, and Senyun International is also involved. Faraday's pre-market gains widened to 8% at one point in the future. As of CTOnews.com, FF opened up more than 4% and now has a market capitalization of $310 million.

Faraday Future recently announced that the delivery time for the second phase of FF 91 2.0 Futurist Alliance "FOP Co-creation delivery" was updated from the end of the second quarter of 2023 to August 2023, which caused panic in the market and caused its share price to plummet.

Jia Yueting, the future founder of Faraday, responded to the current doubts in a long post on Weibo last week. The summary of CTOnews.com deserves attention as follows:

Jia Yueting said that the delay in the delivery of the second phase reflects the urgent need to improve the industrialization and financing capacity of the FF team. After repeated consultation and communication with large institutional investors and financial advisers, the company decided to take measures related to stock merging and share expansion to break the three major technical bottlenecks of FF: too low share price, insufficient number of issuable shares and too long time for share registration.

Jia Yueting promised to go all out to achieve the second phase delivery and capacity climbing of the "all-around aiHypercar" FF 91 2.0 Futurist Alliance in August; to comprehensively and rapidly improve the team's supply chain capacity and production capacity; to thoroughly solve the three major technical restrictions on financing, to raise sufficient funds in a timely and rapid manner with the fastest speed and lower cost; and to promote the landing project of FF China.

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