Written by Cláudio Afonso | LinkedIn | X
Electric vehicle startup Faraday Future resumed on Thursday the deliveries after a four month hiatus with the handover of the FF91 2.0 to a retail shareholder.
In the statement posted on the official app, the founder YT Jia teased the creation of a new subbrand aiming at the mass market segment.
“FF is considering introducing a second brand under our ‘US-China Automotive Industry Bridge Strategy’, which could seek to integrate our high-value solutions and features into vehicles in a more affordable mass market product segment, which would enable more retail investors to enjoy our ‘Ultimate AI TechLuxury’ in the future,” the founder wrote.
The company has recently disclosed it had “preliminary discussions with several global OEMs and suppliers” on how the company can “help build a bridge between US and Chinese automotive industries through industrial coordination and collaboration”.
The company revealed on Tuesday that Li Han, a member of the Board of Directors, resigned effective June 9, 2024.
Han, who also served on the Nominating and Corporate Governance Committee, cited personal reasons for her departure. She had been appointed to the Board on March 13, 2023.
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The founder and Chief Product & User Ecosystem Officer, YT Jia, together with CEO Matthias Aydt, posted a new video last Friday updating investors on the latest developments as the stock faces tremendous volatility in recent weeks.
“The upcoming delivery of the FF 91 to our new retail investor marks the restart of the second phase of FF 91 deliveries (SOD2),” YT Jia wrote on X. Here’s the full video below:
On Thursday, the founder had revealed that the company had delivered no cars in the last four months enhancing that the upcoming delivery event to a retail shareholder was now possible due to new funding.
“After about four months, Faraday Future has finally secured some funding to complete the procurement, production, and testing of the parts for the twelfth car, which is about to be delivered to the next user. We thank our investors who have supported us during this period, allowing us to produce this car.
In the video, Faraday Future‘s Founder and Chief Product & User Ecosystem Officer, YT Jia, shared on Thursday that the company has completed the prodution of the 12th FF91 2.0 vehicle.
“FF completes production and testing of 12th FF 91 2.0, set to deliver to first retail investor user. As a heartfelt thank you to him and other retail investors like him, I’ve specially recorded two videos to introduce him to his new car,” Jia wrote on Thursday.
Last week, Faraday’s founder released a video criticizing what he described as “biased interpretations” from certain media outlets and “attacks by malicious short-selling institutions” affecting the company’s market performance.
Earlier in the week, Faraday Future had disclosed it had preliminary discussions with several global OEMs and suppliers to explore how the company could facilitate coordination between the US and Chinese automotive industries.
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Written by Cláudio Afonso | LinkedIn | X
