Faraday Future Announces New Funding

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Go back to Faraday Future Announces New Funding

Faraday Future (FFIE) to Raise Up to $600M in Funding

August 15, 2022 2:17 PM EDT

American electronic vehicle maker, Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) announced on Monday that the company entered into a definitive agreement for a new financing facility with a total potential funding of as much as $600 million. Funds managed by ATW Partners, a U.S.-based institutional investor, led the transaction. FFIE will receive an initial $52 million of committed funds as part of the new financing facility.

According to a report by Reuters, the electric-vehicle maker said it was in active discussions with investors in the United States... More