After years of turmoil and financial struggles, American electric vehicle start-up Faraday Future has listed on the Nasdaq Stock Market and says it has pre-orders and deposits for all 300 of its limited-edition, invite-only FF 91 Futurist Alliance Edition models.
Faraday Future was founded back in 2014, but we haven’t heard much from the company in recent years. Once considered to be a Tesla rival, Faraday Future fell into years of financial troubles and lost its founding executives.
Back in January, however, Faraday announced it would list on Nasdaq through a merger with special purpose acquisition company (SPAC) Property Solutions Acquisition, a facility that has brought a number of electric mobility start-ups into public trading, including Saudi-backed Lucid Motors.
Faraday followed through with its proposed SPAC merger last week, listing as “Faraday Future Intelligent Electric” under the ticker symbols “FFIE” and “FFIEW”.
“Today is a new chapter in FF’s history, marking the culmination of a noble vision and mission created seven years ago in California by our founder YT Jia,” said Dr. Carsten Breitfeld, Faraday Future’s Global CEO. “This is also the common mission of our global partners, who are also known as the Futurist Alliance.
“We would like to thank all investors, partners and internal and external partners for their trust and confidence in our leadership, product technology and business model, and we are confident in the high-quality delivery of our FF 91 Futurist in the next 12 months.”
After ringing the bell to open Nasdaq trading, Faraday Future also announced a brand-new reservation policy for its FF91 Futurist.
The first announced FF 91 Futurist Alliance Edition will be limited to 300 units globally, with a priority reservation deposit of $US5,000 ($A6,800). The initial 300 FF91 owners will also gain access to three extra privileges, including Futurist Alliance membership, Spire Club membership, and the next generation product upgrade privileges.
FF has also launched the FF 91 Futurist Edition for a priority reservation deposit of $1,500.
A week later, Faraday announced that they had taken advanced pre-orders and deposits for all 300 of its limited-edition and invite-only FF91 Futurist Alliance Edition models.
Faraday Future currently expects its FF91 Futurist to come with an industry-leading 1050-horsepower, 130kWh battery pack, with immersive liquid cooling technology.
Boasting acceleration of 0-100km/h in around 2.4 seconds, rear wheels independently driven and controlled by dual rear motors, Faraday Future is also making much of the car’s luxury included technologies.
It describes the FF91 Futurist as “the third internet living space” and is equipped with the industry’s only super AP for internet connection at “light speed”, video streaming, face recognition, and “zero gravity rear-seats with the industry’s largest reclining angle of 150 degrees.