Faraday Future Intelligent Electric Inc raises $37.6M; offering $83.5M: Form D

Faraday Future Intelligent Electric Inc raises $37.6M; offering $83.5M: Form D

Faraday Future Intelligent Electric Inc. (FFIE) has recently announced the completion of a funding round, raising $37.6 million. The company has also offered $83.5 million in securities through a Form D filing [2]. This funding round is a significant milestone for FFIE, which is focused on developing next-generation smart electric connected vehicles.

The funds raised will be utilized to support the company's ongoing research and development efforts, as well as to expand its manufacturing capabilities. FFIE has plans to manufacture vehicles at its production facility in Hanford, California, and has also established a contract manufacturing partnership in South Korea [1]. Additionally, the company is exploring the possibility of developing its manufacturing capability in China through a joint venture.

The funding round is a testament to the growing interest in the electric vehicle market and the potential of FFIE's innovative technology. The company's focus on creating user-centered business models and setting new standards in luxury and performance has caught the attention of investors.

Faraday Future Intelligent Electric Inc. has been led by its founder and co-CEO, YT Jia, and Global President Jerry Wang, who have shown their commitment to the company's success by executing stock purchases under 10b5-1 plans [1]. This demonstrates the leadership's alignment with the "Stockholder First" principle, which underscores the company's dedication to shareholder value.

The recent funding round is a positive development for FFIE, as it provides the company with the necessary capital to continue its growth trajectory. As the electric vehicle market continues to expand, FFIE's innovative approach to smart electric connected vehicles positions it as a key player in the industry.

References:
[1] https://investors.ff.com/
[2] https://www.stocktitan.net/sec-filings/FFIEW/form-3-faraday-future-intelligent-electric-inc-warrant-initial-statem-5ce0d8cc0d83.html