AutoBeta(AutoBeta.net)05/19 Report--

Today, Faraday Future official said through the Weibo platform that FF opened its first flagship brand experience center in Beverly Hills, California, and chose ASTOUNDGroup to be responsible for implementing the design direction of the brand experience center. At the same time, it also said that this is a solid step for FF to deliver its flagship electric vehicle FF 91, and FF continues to deliver its flagship electric vehicle FF 91 as planned in the third quarter of 2022.

According to the release, FF's first flagship brand experience center is located in 464N. Beverly Drive, just across the street from the famous Rodeo Avenue. Faraday Future CEO Bi Fukang said: "working with world-class brand experience design company ASTOUND to design FF's flagship brand experience center and obtaining the sales license of FF 91 will bring us closer to the goal of delivering this excellent electric vehicle to users." he said: "in this physical space, users can visit, interact, co-create, and eventually buy vehicles from FF. This will make the entire user journey a reality. In the near future, our vehicles will appear not only in the windows of our flagship stores, but also on the streets of California and elsewhere, to satisfy all users who are eager to experience this extravagant new breed of extremely intelligent technology, FF 91. "

In addition, it can be seen from the official message that FF has obtained a national sales license issued by California. FF will use a unique direct sales model to enter the market, using its online platform (FF Intelligent App and FF.com), FF's own stores and partners' own stores and showrooms to carry out a light-asset sales network layout. It is worth noting that as early as last year, at the "919th Futurist Co-creation Festival" held by FF, FF also said that the first flagship stores of FF 91 in China would be located in Beijing, Shanghai, Guangzhou and Shenzhen.

Judging from the content of Faraday's future official release today, it is not difficult to see that it is preparing for the sales and delivery channel of FF 91. On May 4th, Faraday Future Weibo released a video about Dr. Faraday Future CEO Bifukang leading a team at the Hanford plant to keep abreast of the latest development of FF 91, which mentioned: the FF 91 project is proceeding as planned, testing and verification is going on as scheduled, and we are on track to launch FF 91 in the third quarter of 2022.

According to relevant data, the Faraday will be launched in 2013, and the FF91 is its first model, which was unveiled in Las Vegas in January 2017. The new car is positioned as a high-end luxury electric vehicle with an acceleration of 2.39 seconds at 0-60 mph, an output of 1050 horsepower, a range of 300 + miles on a single charge and a range of up to 700km under NEDC conditions. Although FF91 made its debut as early as 2017, Faraday ran into financial problems in the future due to the personal debt problems of founder Jia Yueting. Although he led Evergrande to introduce funds in 2018, the two sides broke up in disagreement over the issue of control, and the progress of the first FF91 model also stagnated. It was not until February this year that the FF91 quasi-production car was officially put off the line.

Five years have elapsed between the time when FF91 went offline and the time it first appeared. It is not difficult to see that it has not been easy for Faraday to go all the way in the past five years. After several twists and turns finally came to the listing, but since the listing around the future of Faraday and Jia Yueting between the doubt has not diminished. In 2021, J Capital Research, an American short seller, issued a short selling report on FF, saying bluntly that it "doesn't think FF can sell a car."

Then it was exposed that the order had been falsified. According to the 8Muk document submitted to SEC by a special committee composed of Faraday's future independent board, Faraday has received more than 14000 bookings for FF91 vehicles in the future may be misleading because only a few hundred of these bookings have been paid and the rest have not been paid. In addition, Nasdaq's delisting warning letter was received for failing to submit its 2021 financial report on time.

Although FF has repeatedly said that the FF91 model will be delivered on time and with high quality in July this year, based on the future development of Faraday, there are still many uncertainties. FF Global CEO Bi Fukang has said it will produce its second electric car, the FF 81, in South Korea in 2024, and the company is expected to make a profit by 2025. But according to Faraday's fourth-quarter and annual results in 2021, FF posted a net loss of $517 million (about 3.516 billion yuan) in 2021, compared with a net loss of $142 million for FF in 2019 and a net loss of $147 million for FF in 2020. Faraday future global CEO Bifukang has said that the FF is expected to occupy 3 per cent of the luxury car market, with sales of FF 91 reaching 40, 000 in the next two years and 270000 in five years. However, FF faces far less opportunities than it seems. After all, it takes more money to build a car.

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