This time, are you ready to suffocate for your dreams?
Recently, according to Faraday Future’s official website, its first mass-produced model FF91 has been pre-ordered. Users can pay a reservation fee of 50,000 yuan to pre-order the futurist version (production version) FF 91 and participate in the “Futurist Experience” Official” activities. The deposit supports a full refund before signing the contract.
It is reported that after submitting an appointment application for the FF 91 mass production version, users can obtain four services including the global exclusive FFID provided by Faraday Future, the latest product/event information, the right to participate in online/offline sales activities, and personalized customization.
Previously, its official Weibo revealed that the mass production version of FF 91 will be officially launched in the first half of 2022. With the opening of the booking, can FF 91, which has been bounced for many years, be listed as scheduled this time?
The long overdue FF 91
According to Business Wire, Faraday Future will host an Investor Day in Los Angeles on September 21, 2021. At the same time, Faraday Future will also announce the details of FF91 on the same day, and open test drives.
According to Faraday Future’s official website, the FF 91 is its flagship model with a futuristic design. Although the official did not systematically publish its details, but through public information, we also throws some light on one or two.
On April 13, Faraday Future announced on Weibo that FF 91 will be equipped with NVIDIA DRIVE Orin system-on-chip (SoC), and plans to have highway automatic driving functions and parking call functions when it is launched.
It is reported that NVIDIA DRIVE Orin can run 254 trillion times per second.
In terms of lidar, FF 91 is equipped with Velodyne’s first solid-state lidar, Velarray H800. Velarray H800 is a car-grade lidar that can be installed behind the windshield of a vehicle.
In addition, Velodyne also announced that it is the exclusive lidar supplier for Faraday Future FF 91.
In terms of batteries, Faraday Future stated that the energy density of its lithium-ion battery cells is almost twice that of mass-produced electric vehicle batteries, and the mileage can exceed 482 kilometers on a single charge.
In terms of power, FF 91 has a built-in modular variable electric drive chassis architecture, which can include batteries, powertrain systems, and its patented component “ladder inverter”. Its power can reach 1050 horsepower, 0-60 mph acceleration is 2.39 seconds.
In the interior, the FF 91 is equipped with zero-gravity seats, and the rear passengers can have 48.9 inches of legroom. The cockpit is equipped with a 27-inch display and a patented connection module, which can support three different network operators at the same time.
Currently, FF 91 is being produced in a factory of approximately 1.02 million square meters in Hanford, California. According to the video released by Faraday Future on Weibo, most of the production links of FF 91 require manual assembly.
Faraday Future also disclosed plans for more mass production models. It is understood that FF 81 and FF 71 are expected to start mass production in 2023 and 2024, respectively.
Countdown to listing starts?
In addition to the latest developments of FF 91, in the news announced recently, Faraday Future’s listing process has also been further disclosed.
It is reported that PSAC (Property Solutions Acquisitions Corp.), the company of Faraday Future’s merger transaction, will hold an online general meeting of shareholders on July 20. The purpose of the meeting is to approve the business merger between PSAC and Faraday Future.
After the transaction is completed, the stocks and warrants of the merged company will be traded on Nasdaq under the stock codes of “FFIE” and “FFIEW”.
It is speculated that the transaction will bring nearly US$1 billion in total revenue to Faraday, including approximately US$230 million in cash held in trust by PSAC (unredeemed) and US$775 million in common stock PIPE. The post-transaction equity value of the combined company is approximately US$3.4 billion.
In fact, Faraday planned to go public through an IPO in the future, but due to the epidemic, it forced it to choose a backdoor listing with a lower difficulty.
Faraday Future CEO Carsten Breitfeld once told the media Robb Report that before the 2020 epidemic, Faraday Future had discussed with many private equity companies and planned to make it listed through an IPO. After the epidemic hit, private equity companies withdrew due to uncertainty about the future.
Fortunately, after 2020, the company’s listing through SPAC has become popular in the industry. Faraday Future has reached cooperation with RMG (Riverside Management Group) and PSAC for the purpose of long-term cooperation, and obtained more than 1 billion US dollars in cash.
According to a report by MARKET REALIST, in the past 7 years of company operations, Faraday Future spent approximately US$2 billion without any revenue. At the same time, in order to obtain more income, Faraday Future assumed more debt and sold a small amount of the company’s equity.
MARKET REALIST pointed out that Faraday Future’s bank balance was only $1 million at the end of 2020.
However, according to data, between 2015 and October 2020, Faraday Future obtained at least US$4.5 billion through financing, mergers and acquisitions.
Of course, the biggest achievement of the merger of one or for the production version of FF 91 to be successfully listed.
Carsten Breitfeld said: “This business combination will enable us to launch a new species, FF 91, an extremely intelligent high-tech luxury electric car. It aims to realize the original intention of the founder, invite users and shareholders to participate, and jointly shape an innovative future mobile ecosystem. system.”
Having said that, the FF 91 mass production version has been pre-ordered. Are you willing to suffocate for your dreams?
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/pre-orders-for-the-mass-production-version-of-ff91-are-open-and-jia-yuetings-car-dream-is-realized/
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