Faraday secures further funding and plans FF 91 launch
After a series of negative headlines, things appear to be looking up for Faraday Future. They say they have found an investor in Hong Kong willing to inject 1,5 billion dollars into the organisation.
According to the report, around a third of the money (550 million dollars) has already been transferred to the startup. The rest will be transferred after certain milestones have been reached.
Faraday themselves have confirmed in a meeting with suppliers that they plan to roll out their electric SUV FF 91 this year. Among the more than 100 suppliers were reportedly representatives from Bosch, LG Chem, Fuji Technical & Miyazu, Velodyne, Ricardo and Fanuc. Faradays head of supply chain management had the following to say: “Our goal was for suppliers to walk away with renewed confidence about our plans and our funding, and judging by the overwhelming response, I think we’ve achieved that.”
The FF 91 will be the first serial model by the Chinese-American venture. The vehicles will be autonomous and have 783 kW with the four wheel drive model, achieving 700 km range. The vehicle was presented about a year ago at the CES 2017, before Faraday entered a more difficult phase, with legal problems as well as financial trouble.
Now the debut vehicle will be prepared for mass production, after all allegedly.