Faraday Future announces merger with SPAC Merger

Faraday Future announces merger with SPAC Merger

October 6, 2020 0 By autotimesnews

Reuters writes about this with reference to the CEO of the firm Carsten Breitfeld.

Faraday Future has begun a merger with SPAC, which will help the brand enter the stock market in the near future, according to published data. Note that SPAC is acting here as a “front man” who makes money through IPOs. Typically, these mergers take two years.

In addition, the CEO of Faraday Future announced that the first electric SUV, the FF 91, will go into series production about a year after the end of the merger. Thus, the startup plans to earn about $ 800,000 to produce the model by going public.

Recall that the first electric car of the brand will be equipped with several electric motors with a total output of 1,050 hp, thanks to which the SUV will be able to accelerate from standstill to 100 km / h in less than 3 seconds. The interior of the car will accommodate, depending on the client’s wishes, up to 11 screens, including a 27-inch one, available for the rear row with the Rear Cinema Experience option.