Faraday Future secures $30 million to develop its new line of AI electric vehicles.

Faraday Future, an electric vehicle company, has secured $30 million in financing to boost development of its Faraday X (FX) strategy, aiming to offer affordable, high-performance AI electric vehicles in the U.S. market. The funds include a pre-funded $7.5 million and $22.5 million in new commitments, structured as convertible notes and warrants. The company plans to accelerate growth and target a market gap for innovative EVs.

3 months ago
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