Faraday Future officially announces that it has signed a framework agreement together with Zhejiang Geely Holding Group, also Chinese. The two companies want to work together intensively.
Last week, we heard rumors through Reuters news agency that the financially troubled Faraday Future would seek rapprochement with the Chinese giant Geely. Geely has now announced that the two companies have indeed reached out to each other. They have signed a framework agreement. The two companies want to develop new technology together, but it doesn’t stop there.
Geely and Faraday Future say they are investigating whether the partnership between Geely and Foxconn can also use its services for Faraday Future. That can only mean one thing: the intended models of start-up Faraday Future will very likely be produced by Geely. By the way, Geely is investing a small amount of capital in Faraday Future, but none of the parties reports how big the injection of financial strength is.
Although Faraday Future presented itself with a lot of fanfare, the start-up has still not succeeded in bringing the FF 91 proposed in 2017 to the market. It is not yet clear when the two sides will give a final blow to the new plans.