On August 17th, Fafa Automobile (Hubei) Co., Ltd. was established with Wang Zhigang as the legal representative. The registered capital is ＄100 million. Its business scope includes road motor vehicle production, new energy vehicle sales, automotive parts research and development, intelligent in-car equipment manufacturing, artificial intelligence industry application system integration services, chauffeur services, engineering and technical research and experimental development, etc.
Shareholder information shows that the company is wholly owned by FFHongKongHoldingLimited.
Faraday Future announced earlier this year that it has reached a non-binding cooperation framework agreement with the government of Huanggang, China to promote the implementation of its dual home market strategy in both China and the United States. Faraday Future plans to relocate its FF China headquarters to Huanggang while retaining its global headquarters in Los Angeles, California. The construction of FF China headquarters is expected to be funded jointly by the Huanggang government-guided fund, relevant industry funds, and Faraday Future. This framework agreement was signed in the third quarter of 2022.
Earlier this month, Faraday Future finally delivered its first FF 91 2.0 Futurist Alliance car and held a new car delivery ceremony for the first batch of tower-top users on August 12th. However, the delivery time of this car in China is still unknown.