Every time I see him, he is at the end of his rope, but he always finds a way out. Jia Yueting has received financing again, and he is "saving himself" again: launching a second brand, using extended-range technology, and the new car is scheduled to be mass-produced by the end of 2025.
Although another FF 91 was delivered on September 20, Beijing time, the total delivery of 14 vehicles is far from enough to guarantee the normal operation of Jia Yueting and his Faraday Future (FF). In order to continue to "redeem himself", this time, Jia Yueting, who lives in the United States, set his sights on the extended-range technology that is booming in the Chinese market.
On the same day that the 14th FF 91 was delivered, FF founder Jia Yueting announced that the company's second brand would be named "Faraday X" (FX), applying the concept of "twice the performance, half the price" to the mass car market, aiming to become the Toyota of the AI EV market. Jia Yueting also revealed that FF has signed cooperation agreements or MOUs with four first-tier OEMs in China to become the first OEM in the United States to fully promote extended-range AIEVs.
Funding issues have always been a hindrance to FF's development, and FF has been constantly releasing news to the market to boost confidence. On September 6, FF announced that it had received $30 million in financing commitments from investors in the Middle East, the United States and Asia, including the Master Investment Group, an investment company in Ras Al Khaimah, UAE. In addition, FF has also received a notice from Nasdaq confirming that the company has re-met all Nasdaq's criteria for continued listing.
Faced with this tough and strong man, the God of Destiny had to bow his head and retreat again and again.
