] [TechWeb June 11, according to foreign media reports, the United States Jia Yueting founded electric car startups Faraday future (Faraday Future), an executive said the company expects to begin mass production in the middle of next year its first electric car FF 91.
The executives declined to be named said that before large-scale production, this the biggest challenge facing the automobile manufacturer is funding.
Since last year, fell out with the developer Hengda Real Estate Group (Evergrande Group), Faraday future has been facing financial difficulties. In April this year, US commercial banks Birch Lake Associates provides a bridge financing of up to $ 225 million to the auto manufacturers.
In March this year, the future of Faraday signed a joint venture agreement with the ninth city to jointly establish a joint venture. Under the agreement, the joint venture will be the ninth city to provide funds of up to $ 600 million.
The source added that the Faraday future more than 300 employees at work, there are about 400 employees in unpaid leave.
The executive said, FF91 of mileage will reach 700 kilometers, the car passed the test extreme conditions. He added that the car will be priced at around $ 250,000. (Little Fox)