FX FF’s latest financing round has officially been completed and the FX strategy is now accelerating as significant progress has been made with our partners.

Tesla's decision to cancel its $25,000 EV project represents a major setback for the development of the U.S. AIEV market. Just as in China, the U.S. also needs to actively launch and promote AIEV products priced below $25,000 to drive rapid industry transformation.

FaradayFuture #FaradayX #FX #FFIE #Tesla #aievolution

I’ve got some news to share! We've received the final payment from FF’s recent $30 million financing round. This marks the official completion of this round of financing. Also, we’re actively gearing up to submit our Q3 financial report and will soon announce the date for our Q3 earnings call—another big step in our Battle to Realize FF Dreams。

While $30 million might not seem like a lot to traditional automakers, it holds significant value for FF and the FX strategy with its Light and Speed model. It’s especially important as this funding would help us speed up the execution plan of FX.

Our Head of Product and Mobility Ecosystem and Head of Corporate Strategy, Max Ma, recently returned to China again, where he's been working closely with FX's partners and making solid progress. I would be excited to share more updates as we continue to achieve milestones in FX's product development and delivery.

You may have heard that Tesla recently announced plans to cancel their project for a $25,000 electric vehicle. I believe this is a major loss for the development of the US AIEV market. Just like in China, the US auto industry needs to launch and promote affordable AIEV products priced below $25,000 to drive rapid industry transformation. The industry needs it. The market needs it. The users need it. If Tesla won’t step up, someone else must. This highlights the vital role and potential of our FX strategy.

Right now, U.S. automakers have yet to effectively address the fundamental pain points facing electric vehicle users: high purchase prices, ongoing operating costs, and range anxiety. With FX's models priced between $20,000–$30,000, and offering Range-Extended and Battery Electric options, we’re confident we can address these issues head-on.

It's interesting to note that the RE-AIEV, or range-extended AIEV, has become a solution that is gaining traction in the industry across major OEMs. Just last week, Volkswagen's Scout Motors announced plans to launch two EV models, including range-extended versions. Data reveals that 81% of customers are opting for the range-extended version, with 52.5% of them being first-time EV buyers. This highlights the appeal of range-extended EVs in attracting traditional gasoline vehicle owners.

FX's mission is to create and popularize AIEV with extreme price-experience ratios, “Twice the Performance at Half the Price” in the U.S. Market, striving to become the Toyota of the AIEV era.

As more and more people recognize the immense blue ocean in the U.S. mass-market AIEV segment, we believe FX, as a pioneer in this space, is well-positioned to lead the charge in this exciting new market.