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On Wednesday, local time, Faraday revealed in a presentation to investors that it would open a factory in China as soon as 2025. At the same time, it said in a filing with the Securities and Exchange Commission (SEC) that it was looking for a new Chinese market headquarters that would be used to build future electric vehicles.

As for Faraday's future base in China, as early as last year, some netizens exposed that Faraday's future domestic production base plans to settle in Shanxi. In a post on the social platform, it said that at the invitation of Guoqin Capital Co., Ltd., French Automobile (China) Co., Ltd. held an online working meeting with the management committee of Shanxi Changzhi High-tech Zone. The two sides discussed all aspects of Faraday's future Chinese production base in Changzhi, Shanxi Province. In addition, there is also a photo from which the words "FF online docking meeting of Changzhi High-tech Zone" appear. However, Faraday did not respond to the news in the future.

Looking back on Faraday's future step by step, it is not easy. It was founded in 2016 and initially developed smoothly, with the debut of the first mass-produced electric car, the FF 91, in January 2017, after which the company announced the completion of a $1 billion round of financing. Unfortunately, Letv was on the verge of bankruptcy after the crisis broke out. Although holding hands with Evergrande Group to introduce funds in 2018, the car-building project continued to stagnate because of differences between the two sides on the issue of control and eventually broke up in discord.

Until 2021, FF successfully went public and received financing of more than $1 billion, and the mass production of the first electric car, FF91, has also made great progress. In February this year, FF91 quasi-production car officially went off the line. In the FF91 offline scene, FF founder Jia Yueting also said that FF91 as its first quasi-production car, its 100 km acceleration will far exceed Maybach, Ferrari and other models. In addition, last month, FF announced the opening of its first brand experience center, which it said was a solid step for FF to deliver its flagship electric vehicle FF91, which FF continued to deliver its flagship electric vehicle FF91 in the third quarter of 2022 as planned.

Although FF91 ushered in the mass production of the first brand experience center has also been opened, but it is worth noting that the future of Faraday and Jia Yueting has not diminished. As early as 2021, J Capital Research, an American short seller, issued a short selling report on FF and said bluntly that it "thought FF could not sell a car." Then Faraday was exposed that the order was falsified in the future. 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.

According to the plan, FF91 will be delivered on time and with high quality in July this year, but based on Faraday's future development, there are still many uncertainties. According to FF's first-quarter results, the number of FF car bookings was 401 as of March 31, 2022. In addition, Carston Breitfeld, FF's chief executive, said in May that the company was running out of money. According to Faraday's future fourth quarter and annual results for 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. In addition, FF's cash flow is not optimistic, with working capital of-$688 million in 2019 and-$835 million in 2020. In addition, according to media reports, FF expects an operating loss of $345 million to $385 million for the year ended December 31, 2021, and a net loss of $510 million to $550 million in 2021, a year-on-year increase of 247%.

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