FF receives $760 million investment to support FF 91 production delivery

Release Date : 2023-06-30
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A few days ago, FF announced that the company had secured an investment of US$105 million (approximately RMB 760 million), just days after Jia Yueting delayed the delivery of the FF 91 and issued a long apology for delaying the delivery of the FF 91 because he was looking for funding. The investment is described as consisting of an additional US$90 million financing commitment and an early payment of US$15 million in existing financing commitments. Led by ATW Partners fund with participation from Senyun International.
The US$105 million investment will support the continued production and delivery of the FF 91 and help FF achieve its long-term strategic objectives, including scaling up production, further improving sales and service systems, global business development and improving general day-to-day operating cash flow.

FF CEO Chen Xuefeng said the funding is helpful in accomplishing immediate and medium-term strategic goals, and that FF will focus on a three-phase delivery plan to deliver the FF 91 Futurist Alliance to customers.

Previously, Jia said that the reason for the delay in the second phase of delivery reflected the urgent need to improve both the industrialisation and financing capabilities of the FF team. The next step will be to work on seven areas to fast-track the return of FF's value across the board, including facilitating delivery and capacity climbing, user operations, user reputation, R&D, industrialisation capability enhancement, funding support and China landing. Jia regards FF as his life, and he has been doing his best to protect FF and ensure that the interests of all FF shareholders are not harmed.
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