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Benzinga
Benzinga
Business
Shivani Kumaresan

Faraday Future Partners With Myoung Shin For FF 81 Production

Faraday Future FFIE Faraday Future Intelligent Electric Inc South Korea
  • Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) has entered into a partnership with South Korea-based automotive manufacturer Myoung Shin Co Ltd.
  • Under the agreement, Myoung will manufacture Faraday Future's second vehicle, the FF 81, with the start of production scheduled for 2024. 
  • The FF 81 is a mass-market electric vehicle with advanced connectivity and a user experience tailored to a broader audience than the FF 91, which is scheduled to launch in Q3 2022.
  • "This agreement to produce the FF 81 puts us on track to deliver on our promise to reach high volume production in 2024, the most important milestone on our path to profitability," said Carsten Breitfeld, Global CEO of Faraday Future.
  • Price Action: FFIE shares are trading higher by 1.89% at $4.32 on the last check Wednesday.
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