Faraday Future announced on Tuesday a joint partnership with Gameloft, a leader in the gaming industry, to feature two of its models inside Asphalt 8 and 9,its most downloaded mobile racing game.
The company’s first concept FFZERO1 was unveiled in 2016 and will be now featured inside Asphalt 8 and also on Asphalt 9 in late December. In addition, Faraday’s first model FF91 will also be included in a later date.
“We’re excited to partner with Gameloft and include our FFZERO1 concept car in one of the most popular mobile racing games, Asphalt, and provide all enthusiasts with an opportunity to experience a glimpse into our design and engineering vision,” said Page Beermann, Design Director at Faraday Future.
“The FFZERO1 concept is an amplified version of the design and engineering philosophies that will underpin FF’s production vehicles, beginning with the FF 91 Futurist which is anticipated to start production later this year,” Beermann added.
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After reporting its Q2 2022 financial results earlier this month, the shares of the EV startup plunged nearly 17%. The company returned to timely filing status with Nasdaq and said it had 399 preorders as of June 30 for its first model, the FF91.
The EV startup expects to deliver the FF 91 model to customers in the third or fourth quarter of the year after a capital raise of $325 million.
Earlier in the day, the company said it entered into a definitive agreement for a new financing facility with total potential funding of $600 million in a convertible secured notes structure.
The EV startup will receive an initial $52 million of committed funds and said it “continues to have active discussions with multiple capital providers for potential significant additional near-term funding”.
Earlier this month, the company’s major shareholder FF Top Holding executed “a non-binding term sheet for a proposed convertible term loan facility” to raise up to $600 million. Last week, the company filed a 8-K form saying it will delay the start of production and the first deliveries of the FF91, the first model for the California-based company.
The mass production was scheduled to start this month and is now delayed to the third quarter or the fourth quarter of the year depending on when the company can secure additional funds.
FF Top unveiled that has received non-binding indications of interest from two financial investors that may invest via the Potential Lead Investor and is in discussions with the Potential Other Investors warnings that is nothing confirmed so far.
The EV startup — that in March had only 401 preorders for its first model — has been struggling with internal issues namely the removal of Brian Krolicki from the Board of Directors.