Faraday Future Secures $41-Million Funding Commitment to Advance Faraday X and AI Strategic Upgrades

Round of financing is expected to bring the company’s total fundraising to over $100 million since September 2024

Los Angeles-based Faraday Future Intelligent Electric Inc. (FF) – a global shared intelligent electric mobility ecosystem company – has announced that it has secured $41 million in new cash financing commitments. According to a recent press release, the company expects to use the net proceeds to accelerate growth and development, including for general corporate purposes, the continued advancement of the company’s FX brand and the execution and advancement of strategic projects to achieve the target of rolling out the first FX vehicle by the end of 2025. Funds will also be used for AI, including research and development and testing of end-to-end autonomous driving capabilities.

This financing marks FF’s third funding commitment of at least $30 million in the past six months, surpassing the previous two $30-million financing rounds in September 2024 and December 2024. With this latest round of financing, the company’s total committed financing over the past seven months has now exceeded $100 million. Univest Securities, LLC served as exclusive placement agent in this financing.

“This new round of funding lays a solid foundation for not only FF but also our new FX brand as it continues to make important milestones in market strategy and in product development,” said Matthias Aydt, global CEO of FF. “I am optimistic about the opportunities that this new funding will bring, including supporting the ongoing production of our FF 91 2.0 and the growth of the FX brand in 2025.”

This new financing is expected to further strengthen the company’s financial stability. FF remains committed to optimizing resource allocation, enhancing cost control, improving supply chain management efficiency and further increasing overall operational effectiveness. The company will ensure the newly secured funds are strategically allocated to the core initiatives of the FX strategy, accelerating business growth, expanding market presence and enhancing long-term competitiveness.

“We appreciate our strategic partner, Univest Securities, as our exclusive placement agent in this offering, has demonstrated exceptional dedication and expertise throughout the financing process. We also appreciate FF Global Partners and Jerry Wang’s support on this transaction,” said Koti Meka, CFO of FF. “FF is consistently focused on operational efficiency and ensuring that capital is invested in the most valuable areas. The success of this financing round further strengthens our financial flexibility, enabling us to execute the FX strategy more efficiently and drive FF’s long-term growth.”

Information was sourced from Businesswire. For more details, contact john.schilling@ff.com.