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Faraday Future (Faraday FF), which was founded in 2016, has not been put on the market so far with limited funds. Recently, it is reported that Faraday FF has found a new contract manufacturing company, that is, the Chinese company Geely Automobile.

Faraday Future, founded by Jia Yueting, is working strategically with Geely on product technology and capacity contract manufacturing in the near future, Reuters reported. And this news is also another important news that Faraday FF has ushered in recently since it was reported that IPO will be realized through SPAC (special purpose mergers and acquisitions) in the United States.

According to the plan, FF will build new factories in major cities in China, with an initial production capacity of 100000 units, and plans to build domestic R & D centers at the same time. The plan may follow the model of Baidu and Foxconn and develop new models using Geely's vast SEA architecture, which will be produced by Geely, while FF mainly provides intelligent technologies such as self-driving.

However, both FF and Geely declined to comment on the rumor. FF China was contacted by the media, and people concerned said they would not comment. Geely Holdings officials also responded that they "do not comment on market rumors."

In addition to the possible partnership with Faraday FF, Geely and Baidu announced in January that they would form a smart electric vehicle company to build the next generation of smart cars. And signed a strategic cooperation agreement with Foxconn, the two sides will set up a joint venture to provide contract manufacturing and customized consulting services for global automobile and travel companies.

If this is true, it will be of great benefit to both sides. Some analysts believe that with the cooperation between Faraday FF and Geely, it will help FF's SPAC listing project to achieve mass production and delivery of FF 91 as soon as possible. After all, Geely's operation and management capabilities, supply chain system and vehicle manufacturing capacity will be able to promote the landing of Faraday FF products.

For Geely, although Faraday FF has not seen a new car on the market for a long time, Faraday FF has been a leader in intelligent cars since its inception, and even strives to become a future-oriented industry reformer. Data show that FF's patent portfolio has been cited by many leading OEM manufacturers. About 880 patents have been applied for or granted, of which 530 have been granted, which are highly competitive in terms of quantity and quality in the industry. In this regard, the cooperation between the two sides will also help Geely accelerate the transformation of science and technology.

According to data, FF (Faraday Future, Faraday Future) was founded in 2016 and officially launched its first mass production electric car, FF 91, in Las Vegas in January of the following year, after which the company announced the completion of US $1 billion in round A financing, with Leeco founder Jia Yueting serving as global CEO and chief product officer. Jia Yueting is the founder and actual controller of FF. Subsequently, due to the outbreak of Jia Yueting's personal debt crisis, FF fell into financial problems. Although it led to the introduction of funds by Evergrande Group in 2018, the two sides broke up in discord due to differences on the issue of control, and the FF car-building project also continued to stagnate.

It is worth mentioning that there is no FF on the market so far, but a number of companies have been set up one after another. According to enterprise information, French Automobile (Zhuhai) Co., Ltd. was officially established on December 14, 2020 with a registered capital of 250 million US dollars and is fully owned by FF Hong Kong Holding Limited.

In October of the same year, FF officially announced that the company had received a $45 million debt financing loan from two major financial institutions in the United States, which is based on the expansion and extension of the 2019 advanced bridge financing loan program and will expire in October 2021. It is said that the loan will be used to support the final production of its electric car FF 91 project.

Although the model is not yet on the market, the price of the FF 91 has been announced earlier, with prices of 2 million yuan in China and $200000 in the United States.

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