Jia Yueting’s Faraday Future (hereinafter referred to as FF) has finally made new progress. It is reported that in the morning of March 4, FF announced a strategic agreement with a US company named US Hybrid Corporation. Under the agreement, FF will provide power assembly systems for new energy products being developed by US Hybrid Corporation.
According to the official website of the US Hybrid Corporation, the company established in 1999 mainly provides zero-emission powertrain solutions for medium / heavy municipal vehicles, commercial trucks, or special vehicles (that is, non-passenger vehicles). According to the above agreement, FF may become a “component supplier” of US Hybrid Corporation.
FF Global CEO Carsten Breitfeld said that the cooperation between the two parties will be the first step for FF technology and products to embrace the market. It is not difficult to see from Carsten Breitfeld’s “subtext” that through technical output, FF has been able to achieve a certain “making money” ability. However, from the actual situation, FF still needs to solve its financing and product delivery issues as soon as possible.
Just a few days ago, Jia Yueting’s debt processing team issued a statement saying that after many consultations and agreement with the creditors committee, FF controller Jia Yueting has formally submitted a list of core provisions of the bankruptcy reorganization plan to the California District Court. According to Jia Yueting’s Debt Handling Group, the above incident has enabled FF to remove the biggest obstacles to business development in China and global equity financing, which means that FF’s further development space and subsequent financing capabilities have been strengthened.
Carsten Breitfeld had given some future plans for FF. It is reported that the current funding requirements of FF have dropped from 2 billion US dollars to 850 million US dollars. Within 9 months after the financing is in place, FF 91 can achieve mass production delivery. Future models and next-generation core technology development can also be prepared accordingly, and within 12-15 months after the financing is completed, FF will achieve an IPO.
Judging from the current situation, FF’s follow-up financing has not yet broken through, and FF 91 has only announced the interior official map, and mass production delivery has not been achieved. Therefore, whether FF can make the leap to the “last mile” requires more time to verify.