EV maker Faraday Future secures $30 million in financing commitments

2024-09-06 03:26:09

Asia Tech Wire (Sep 6) -- California-based electric car maker Faraday Future announced Thursday that it has secured $30 million in financing commitments from investors in the Middle East, the U.S. and Asia.

The new financing commitments include $7.5 million from previous financing and $22.5 million in new investment, in the form of convertible notes and warrants to purchase additional shares of the company's common stock.

Meanwhile, market news has it that Faraday Future has re-qualified for a continued listing on Nasdaq.

YT Jiia, Faraday Future's Chinese founder, previously said the company will launch its second brand on Sept. 19, focusing on AI EVs.

Faraday Future

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