At 8:00 a.m. Beijing time on February 24, Faraday Future (FF, NASDAQ code FFIE) announced the completion of the first FF 91 quasi-production vehicle, which marked the fourth production and manufacturing milestone of FF - the mass manufacturing of FF 91 pre-production vehicles (that is, quasi-production vehicles) for final engineering verification and certification. Officials said they would achieve mass production in the third quarter.
On the same day, Bi Fukang, global CEO of FF, and Jia Yueting, founder of FF, drove the first quasi-production vehicle of FF 91 out of the factory and conducted a dynamic acceleration, braking and pile winding test at the scene.
After experiencing the performance test, Jia Yueting said: "This is crazy, it is really exciting day. Next, the most important task of FF is to continue to go all out to hand over FF 91 to users, and the dream of striving for it is getting closer and closer to us. "According to FF's plan, mass production of FF 91 will begin in the third quarter of 2022.
In the capital market, the expectations of the outside world for the FF 91 quasi-production car are also reflected in the stock price of FF. On the day of the press conference, FF (FFIE) rose 8.5% before the session, but after the opening, it opened high and went low. As of the close of U.S. stocks on February 23, FF closed at $4.74 per share, down 6.32%, with a total market capitalization of $1.537 billion.
At the same time, there is also a piece of news worth paying attention to, on February 23, Jia Yueting added three new pieces of resumption of enforcement information, with a total of more than 2.5 billion yuan in enforcement targets, involving disputes between Jia Yueting and Ping An Securities, Huarong Securities and other companies, and the enforcement courts were all the Third Intermediate People's Court of Beijing Municipality. Up to now, the total amount of Jia Yueting's execution has exceeded 5.2 billion yuan.
The FF 91 is positioned as a luxury electric vehicle and was first launched worldwide in Las Vegas, USA in January 2017. According to the disclosure at the time, the car accelerated from 0-60 mph in only 2.39 seconds, could output 1050 horsepower, could travel 300+ miles on a single charge, and had a cruising range of up to 700 km under NEDC conditions.