Faraday Future FF81 officially announced that it plans to mass-produce in 2024

Faraday Future FF81 officially announced that it plans to mass-produce in 2024. According to reports, FF81 is a mobile phone with extremely intelligent interconnection and ultimate user experience. Faraday Future's ultra-luxury smart electric car, Faraday Future FF81, officially announced plans to mass-produce it in 2024. Faraday Future FF81 officially announced plans for mass production in 20241

According to news on February 10, foreign media electrek reported that Faraday Future stated that it would cooperate with South Korean car manufacturer Myoung Shin to jointly produce the mass market The luxury electric car FF81 will start production in South Korea in 2024.

Faraday Future, like Weilai and Tesla, adopts high-end luxury cars first, and then gradually enters the mass market. This can effectively establish a luxurious brand image, and the vehicles can have greater Premium space. The FF91 is a luxury SUV worth millions, and the price of the FF81 is expected to be hundreds of thousands.

Nowadays, Weilai has to enter the more popular family passenger car market with a price of more than 100,000 yuan. This price range can basically cover the largest number of people. As the number of users increases, manufacturers can sell more assisted driving software. In addition, manufacturers' apps can build their own auto parts stores and generate more Internet promotion revenue.

NIO’s battery swapping and battery rental services can also create a scale effect, and the demand for battery swapping stations will increase significantly. Faraday Future may also follow a similar route. Having more users will be very helpful to the company's revenue growth.

Faraday Future adopts an asset-light model and its factories in the United States are leased. The cooperation with South Korea's Myoung Shin will help it quickly increase its mass production level. However, in this way, the production capacity is in the hands of the foundry. At this point in 2024, more and more new brands will enter the market, such as Xiaomi Motors, which will achieve mass production in 2024. Although Xiaomi Auto’s positioning may not necessarily compete with Faraday Future, more players will definitely enter the high-end luxury electric vehicle market. If Faraday Future's supply volume is not large, it may be stolen by competitors.

In addition, due to the positioning of FF81, the production volume of the car will not be particularly large. Therefore, Faraday Future will not have a high say when negotiating with foundries. Foundries will give priority to satisfying large customers, or may not give priority to the production of FF81.

The expected delivery date of the FF91 is the third quarter of this year. The short-selling company J Capital released a 27-page report stating that Faraday Future will not produce a car. Before FF81, Faraday Future must deliver FF91 as scheduled this year in order to boost investor confidence. Faraday Future FF81 officially announced plans for mass production in 2024 2

On February 10, Faraday Future announced that it had signed a contract with Myoung Shin Co., Ltd., a South Korea-based automobile manufacturer, to launch production in 2024. Started production ("SOP") of FF's second electric model, the FF81.

According to reports, FF81 is an ultra-luxury smart electric vehicle with extremely intelligent interconnection and ultimate user experience. Compared with the FF91, an extremely intelligent technology luxury electric vehicle that is scheduled to start mass production in the third quarter of 2022 , FF81 will be tailored to meet the needs of more users in the mass market.

　Myoung Shin, located near Seoul, South Korea, is a parts supplier and automotive manufacturer to many first-tier OEMs. The plant that will produce the FF81 in Gunsan, South Korea, has the scale, flexibility and port access.

Carsten Breitfeld, Global CEO of Faraday Future, said: "We are delighted to become a partner with Myoung Shin. This agreement to produce FF 81 puts us on track to deliver on our 2024 Our third-quarter launch of the FF 91 will redefine the state-of-the-art in luxury electric vehicles, and Myoung Shin's FF 81 will expand our market-leading position to achieve our commitment to high-volume production in 2018. technology into the mainstream luxury car field."

Myoung Shin President Taekyu Lee added: "We will cooperate with Faraday Future to jointly build the future of the electric vehicle industry and provide consumers with first-class... Quality products. ""As an electric vehicle contract manufacturer, our vision is to seek creativity, innovation, reliability, responsibility and corporate citizenship, and we will provide all of these when building the Faraday Future FF 81 vehicle."

Faraday Future said that its strategy is based on a "light asset business model, using a global hybrid manufacturing strategy, including Faraday Future's leased manufacturing facility in Hanford, California, and cooperation with Myoung Shin."

It is understood that the expected delivery date of FF91 is the third quarter of this year. However, according to the relevant person in charge of FF, there are only 300 reservations for the car that have paid deposits, and another 14,000 orders have unpaid deposits. of free orders. Previously, the short-selling agency J Capital Research (Michikin Investment) released a short-selling report against Faraday Future on October 7, 2021, accusing Faraday Future of being involved in fraud, including falsely reporting the pre-order volume of FF91, founder Jia Yueting's improper compensation profit and other behaviors, and said that it was impossible for FF to sell a car. Faraday Future FF81 officially announced plans to mass produce 3 in 2024

Recently, Faraday Future (hereinafter referred to as FF or Faraday Future), an electric vehicle company founded by Jia Yueting in the United States, officially announced that it has entered into a partnership with an automobile manufacturer headquartered in South Korea. Myoung Shin signed a contract to start producing FF's second electric model FF81 in 2024; FF said that FF's large-scale production and light capital model will effectively leverage the advantages of the global supply chain, which will also enable FF to achieve profitability.

The FF81 foundry has been decided, and FF says it will achieve profitability in 2025!

Long before Faraday Future went public, it had revealed plans for a light-asset business model. The biggest advantages of OEM production are low investment, fast output, and it also allows the foundry’s resources to be well utilized. play to achieve a win-win situation!

On February 9, local time in the United States, Faraday Future, the world’s first smart electric mobility ecosystem company headquartered in California, USA, officially announced that it has partnered with Myoung Shin Co., a car manufacturer headquartered in South Korea. Ltd. signed a contract to start production ("SOP") of FF's second electric model FF81 in 2024.

According to reports, Myoung Shin, headquartered near Seoul, South Korea, is an auto parts supplier and vehicle manufacturer that provides services to many first-tier auto manufacturers. Myoung Shin's Gunsan factory will be responsible for the production of FF81. The factory not only has flexible large-scale production manufacturing capabilities, but also has exclusive port transportation channels. According to the agreement, Myoung Shin will provide FF with sufficient production capacity and manufacturing capabilities, and will produce and manufacture FF81 in accordance with FF's plan for market demand.

Myoung Shin President Taekwu Lee said that we will work together with Faraday Future to jointly build the future of the electric vehicle industry and provide consumers with top-quality products. Produce the FF81 electric car for FF with high quality.

After finalizing the FF81 foundry, FF’s global manufacturing layout has fallen into two places. In the United States, the FF Hanford factory is intensively installing production equipment for the production of FF91, and FF is also recruiting people everywhere. , plans to deliver FF91 in July this year, and Myoung Shin in South Korea will OEM FF81.

The most anticipated thing is FF’s layout in China. After FF’s previous plan to cooperate with Evergrande to build a factory in Nansha fell through, FF’s plan to build a factory or OEM in China has been blocked due to funding problems. Nothing more to say.

On January 29, 2021, Geely FF officially announced a cooperation agreement. The two parties plan to cooperate in the fields of technical support and engineering services, and explore the possibility of Geely and Foxconn’s joint venture providing foundry services. Sex; although several people mentioned the OEM in their mouths, there was no follow-up.

Some insiders have analyzed that considering the early financial constraints of car companies, Faraday Future is more likely to seek OEMs in China, which is also in line with Faraday Future's light asset model. plan.

According to the plan to deliver FF91 in July this year and produce FF81 in 2024 factories, as well as FF’s light asset model, FF bluntly stated that it will achieve profitability in 2025. As for whether it will get what it wants, we will wait and see.

Jia Yueting gave it his all

Faraday Future was on the verge of bankruptcy several times, but managed to avoid it. In the end, it was still on the verge of mass production. Among them, Jia Yueting’s decision was the most critical. .

In the second half of 2016, LeTV’s cash flow suddenly became tight, and a debt crisis was imminent. In order to stabilize LeTV, Jia Yueting introduced Sunac to the rescue. Sun Hongbin entered the company with 15 billion, and Sunac became the second leader of LeTV.

In the second half of 2017, LeTV’s debt crisis broke out in full force. Jia Yueting, who was deeply mired in debt, was unable to reverse the situation. Faraday Future, which was far across the Pacific Ocean at this moment, was not doing well either. Jia Yueting’s early investment of 1 billion The U.S. dollars were about to be exhausted. Given the choice between the two, Jia Yueting chose the latter and went to the United States to personally take charge of Faraday Future. Jia Yueting pinned his hopes of a comeback on the future automobile track.

In the winter of 2017, there were many rumors that Faraday Future was about to go bankrupt, but soon Jia Yueting found a new sponsor. On November 30, 2017, Hong Kong time Smart Company reached a cooperation agreement with FF and planned to invest US$2 billion in FF. It was this company's support that saved Faraday Future from danger. Later, Hong Kong Season Smart was acquired by Evergrande Group. Evergrande indirectly became the largest shareholder behind FF and continued to fulfill its investment FF’s $2 billion plan.

However, after investing 800 million U.S. dollars, Evergrande and FF had differences and eventually broke up. After losing its sponsor, Faraday Future once again faced a bankruptcy crisis. At the critical moment, Jia Yueting took emergency measures. Layoffs and salary reductions, closing some business units, and giving some employees leave.

In order to raise funds, Jia Yueting even sold the FF Los Angeles headquarters building and leased it in exchange for nearly 30 million U.S. dollars. In addition, in order to allow FF to continue to survive, FF borrowed money from the bank to spend time again. crisis, in order to raise more funds to promote the FF project, Jia Yueting began to promote equity financing and debt financing.

However, the results are not significant. Firstly, there are many excellent car companies in the market, and investors have more choices. Secondly, Jia Yueting’s failure in LeTV is obvious*** See, the debt is also there, which has also become a concern for investors. In order to dispel the concerns of investors and give an explanation to the former creditors, Jia Yueting once again tried his best.

On October 14, 2019, Jia Yueting voluntarily applied for personal bankruptcy reorganization in the United States. According to this plan, a creditor trust will be established at the same time to transfer all assets in the United States to creditors, completely resolving Jia Yueting’s direct and personal guarantees. and indirect debt issues.

On June 26, 2020, the personal bankruptcy reorganization procedure applied for by Jia Yueting in the United States was completed. The reorganization plan officially came into effect. At the same time, the creditor trust was officially established and began operations.

At the same time, Jia Yueting resigned from the position of CEO of FF before bankruptcy and reorganization, and was willing to retire to the second line as user product officer. Jia Yueting once said: The reason why I gave up everything is just to make FF better. We will complete the repayment of the remaining secured debt as soon as possible and realize our dream of revolutionizing the automobile industry.

Under this decision, Breitfeld, known as the "father of i8" in the industry, Bob Kruse, the former chief technology officer of Karma and Qoros, and former BMW executives Benedict Hartman, former Maserati China sales director Gao Mengxiong, Chen Xuefeng, who is known in the industry as "the youngest Chinese head of a joint venture car company" and other elites in the automotive industry have joined the FF camp to pursue the great cause of car manufacturing.

On July 22, 2021, Farady Future, founded by Jia Yueting, officially landed on the Nasdaq exchange in the United States, with the stock abbreviation "FFIE". This listing of FF raised nearly 1 billion U.S. dollars and plans to launch in July this year FF91 was officially delivered in March.

Currently, FF owns nearly 900 global patents, of which 550 core electric vehicle technologies have been authorized. These patents cover three-electric systems, autonomous driving, Internet of Vehicles, production and manufacturing, including large-scale electric vehicles. The load power output technology and T-type inverter obtained U.S. patents. The charging equipment independently developed by Faraday Future has an efficiency of 200 kilowatts per hour, reaching one of the world's leading levels.