Written by Cláudio Afonso | LinkedIn | X
Shares of the electric vehicle startup Faraday Future are soaring by 35 percent in the early moments of Friday’s trading session. This surge follows an announcement by company founder YT Jia regarding the resumption of deliveries for their luxurious model, the FF 91 2.0.
The founder and Chief Product & User Ecosystem Officer, together with the CEO Matthias Aydt, posted a new video on Friday updating investors on the latest developments as the stock faces tremendous volatility in the last 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.
Last week, the company 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”.
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The company is expecting to provide additional details on the “US-China Automotive Industry Bridge Strategy” which reflects an adjusted corporate strategy by returning to the earlier two-brand setup to distinguish market segments.
Faraday admitted that the move will enable the integration of FF’s high value “Ultimate AI TechLuxury” solutions and features of its I.A.I technology into vehicles in a more affordable mass market product segments.
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Written by Cláudio Afonso | LinkedIn | X
The post Faraday Future Shares Surge as Company Restarts Deliveries first appeared on EV.