Faraday Future Announces New Funding
08/15/22, 1:08 PM
Location
californiaFaraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF”, “Faraday Future”, or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the successful execution of a definitive agreement for a new financing facility. The Company continues to have active discussions with multiple capital providers for potential significant additional near-term funding.
Company Info
Location
california, united states
Additional Info
Faraday Future Intelligent Electric Inc said on Monday that the electric-vehicle startup will raise up to $600 million in funding as it looks to deliver its FF 91 luxury car later this year. The company will get an initial $52 million of committed funds as part of a new financing facility. The EV firm flagged the need for more cash to launch its FF 91 model in a regulatory filing in July after CEO Breitfeld told Reuters a month earlier that it would be able to launch the car without the need for additional funding.