Faraday Future (FF), owned by Jia Yueting, announced that it has reached a non-binding cooperation framework agreement with the Huanggang municipal government of China to promote the strategic landing of the company's home court of both China and the United States.
In addition, FF has signed a revised and restated shareholder agreement with FF Top LLC (FF Top), a wholly owned subsidiary of FF Global Partners LLC (FFGP). The newly signed shareholder agreement consolidates FF Top's position as a significant shareholder. Subject to shareholder approval, FF Top will have a super vote at 1:10. FF expects to begin mass production of the FF 91 Futurist electric car by the end of March 2023, and is expected to go offline in early April and deliver by the end of April.
Jia Yueting also spoke on Weibo for this cooperation, in addition to thanking him for speeding up the delivery of FF91.
Jia Yueting said that FFIE and FFGP, a global partner company made up of dozens of core management of FF, signed a new shareholder agreement, which finally ended the adjustment of the top governance structure, restored the highest ethical standards of governance and put the business back on track.
In addition, Jia Yueting also reiterated that he is doing his utmost to promote the timely, high-quality and high-quality delivery of FF 91 Futurist. I would like to thank the Hubei Provincial Government and Huanggang Municipal Government for their strong support and frank cooperation to help FF realize the dual-genetics and dual-home strategy of China and the United States.