Faraday Future Sets up Headquarters in China, Promises New Models and 5 Million Cars By 2028

Matt Posky
by Matt Posky
faraday future sets up headquarters in china promises new models and 5 million cars

Evergrande Health Industry Group Ltd, which owns a 45 percent stake in U.S.-based Faraday Future, said Tuesday that the electric vehicle startup has officially moved its headquarters to China. The group claims Faraday now plans on building five R&D and production facilities across the country over the next decade.

The intended goal is to have the startup reach an annual production capacity of 5 million vehicles within 10 years and launch multiple “premium to entry-level segments for the global auto market, to build an internet-based intelligent mobility ecosystem,” Evergrande said.

It sounds a little premature for a company that managed to evade certain death by the skin of its teeth — and only just snagged a manufacturing facility — a few months ago.


While the startup has supposedly begun assembly on the FF91 in the United States, we’ve yet to see a single finished example of the crossover — just a body in white. But now it’s promising new models, like the smaller FF81, and a production volume that could be understated as ludicrously ambitious.

The new headquarters, called Evergrande FF Intelligent Automotive (China) Co., Ltd, will be responsible for technology research and development, as well as all of the production, operation and management of FF in China. This creates a bit of confusion, though. The investment holding company previously changed the name of Ruichi Intelligent Vehicle Co., a Chinese subsidiary, to “Evergrande Faraday Future.” However, the American-based FF is also supposed to expand into China as a separate entity and has now officially set up an HQ there.

While the corporate structuring of Faraday has always been incredibly difficult to follow, it became worse after Evergrande Group purchased its 45 percent stake last June as part of the holding company’s diversification strategy into the tech sector. Faraday’s ties to LeEco’s LeSEE are beyond muddled, despite both companies sharing the same chairman (Jia Yueting) and co-developing technologies. But now there is also a subsidiary based in China that’s also using the Faraday name.

The automaker’s new Chinese headquarters opened on the same day as the announcement (August 14th), which seems odd. But production at its facility in Hanford, California is supposed to humming along. We’ll see if that turned out to be true in a few months and, hopefully, be able to parse out how Evergrande organized everything.

[Image: Faraday Future]

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  • MaintenanceCosts This truck could go plenty farther (assuming good basic maintenance) but the price:remaining life ratio still makes me gag a bit. The used truck market remains overheated and the price is probably market correct, but these are the sort of prices that would make me prefer to buy a new truck if I could afford it.
  • Jeff S I ignore the commercials. Never owned a Mazda but I would definitely look at one and seriously consider it. I would take a Honda, Toyota, or Mazda over any German vehicle at least they are long lasting, reliable, and don't cost an arm and a leg to maintain.
  • GregLocock The predictable hysteria and repetition of talking points in the meeja is quite funny. it does not divide Oxford into six zones. it restricts access at 6 locations , one on each road, to reduce congestion in the town centre. Florence, which faces the same issue, traffic and narrow historic streets, lined with historic buildings, simply closed the entire town centre off. Don't see anybody whining about that.
  • Jeff S I have rented from Hertz before and never encountered this but if I had I would sue them. Would not want a gun pointed at me and thrown in jail for renting a car.
  • Arthur Dailey I did use a service pre COVID to get the pricing that the dealers were alleged to have paid the manufacturer. It also provided 'quotes' from multiple dealers .
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