Faraday Future Secures $105M Funding to Accelerate FF 91 Production

CNBC AI News, July 7th – Electric vehicle maker Faraday Future (FF) has secured approximately $105 million in funding, a capital injection aimed at fueling production and accelerating its ambitious AI technology roadmap.

The funding package is earmarked primarily for ramping up production and delivery of the company’s upcoming FX Super One model, while also supporting the overall development initiatives for both the FF and FX brands, with a particular emphasis on advancing AI-related technologies.

Specifically, the $105 million consists of $82 million in new funding commitments. This portion is structured as unsecured convertible notes and warrants for the purchase of the company’s Class A common stock. The remaining funds are derived from existing investors through the conversion and exercise of previously issued securities.

The conversion price for the new funding is set at the lower value of either the closing price on July 11, 2025, or the volume-weighted average price over the two trading days following the agreement. The warrants will have an initial exercise price pegged at 120% of the conversion price.

The investor base for this round comprises primarily existing institutional investors, including Middle Eastern strategic partner Master Investment Group, alongside participation from new institutions.

Compared to recent funding rounds, the terms of this agreement are notably more favorable, featuring a reduction in warrant issuance to mitigate dilution and incorporating investor lock-up periods, signaling increased market confidence in FF’s prospects.

Jerry Wang, Global CEO of FF, stated that the financing will significantly enhance the company’s ability to launch and deliver the FX Super One. He emphasized the company’s commitment to optimizing capital efficiency, with the overarching goal of establishing FF as a leader in the high-value, intelligent electric mobility market in the United States.