California-based EV start-up Faraday Future, and China s largest privately owned automotive group, Zhejiang Geely Holding Group, have jointly signed a framework cooperation agreement.
The two sides will cooperate in technology and engineering support, and will explore the possibility of using OEM production services provided by the joint venture between Foxconn and Geely.
At the same time, Geely Holding Group has also signed a subscription agreement to become a minority investor in Faraday Future in connection with the previously announced business combination between Faraday Future and Property Solutions Acquisition Corp., which remains subject to customary terms and conditions including the consummation of such business combination.
Geely signs agreement to explore the possibility of producing EVs for Faraday Future via Foxconn JV
29 January 2021 5:32 pm / 2 comments
Zhejiang Geely Holding Group (ZGH) has announced that it has signed a framework cooperation agreement with electric car maker Faraday Future (FF), which will see both parties cooperate in technology and engineering support. More importantly, the tie-up will also explore the possibility of using OEM production services provided by ZGH’s joint venture company with Foxconn.
It is widely assumed that the Geely-Foxconn company will be responsible for manufacturing FF electric vehicles, namely the FF 91 for now.
Reuters previously reported that FF is looking to set up a new base in China and is enlisting Geely for contract manufacturing services. The EV maker has previously said it is adopting a global hybrid manufacturing strategy that includes its own facility in Hanford, California and a contract manufacturing partner in South Korea.
Moore Kuehn Encourages ANDA, TSIA, CCX, and PSAC Investors to Contact Law Firm
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NEW YORK, Jan. 29, 2021 /PRNewswire/ Moore Kuehn, PLLC, a law firm focusing in securities litigation located on Wall Street in downtown New York City, is investigating potential claims concerning whether the following proposed mergers are fair to shareholders. Moore Kuehn may seek increased consideration, additional disclosures, or other relief on behalf of the shareholders of these companies:
Andina Acquisition Corp. III (NASDAQ: ANDA)
Andina Acquisition has agreed to merge with Stryve Foods. Under the proposed transaction, Andina shareholders will own under 33% of the combined company.
With Geely s Manufacturing Aid, Faraday Future Will Go Public Via SPAC ++ It seems the company really wants to sell you an FF91.
The last time I published anything related to Faraday Future was on July 5, 2019. The company had then fired dozens of employees that were on furlough. On January 13, 2020, Tom Moloughney took a ride on an FF91 in Las Vegas, but that was it. When we thought we would not hear about it again, the company decided to shake things up in a big way: it will go public through a SPAC and hired Foxconn and Geely to build its cars.
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