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Faraday Joins with Philips, Possible Sign It’s Closer to Mass Production of FF91 Car

By Ding Yi / Dec 17, 2020 01:13 PM / Business & Tech

Faraday Future, a California-based electric vehicle startup founded by disgraced Chinese tech entrepreneur Jia Yueting, is getting closer to realizing the ambition of mass-producing its first car model with the announcement of a partnership with Philips Intellectual Property & Standards.

The two companies have recently signed a development agreement, under which the duo will jointly explore the feasibility of integrating health technologies with future vehicles, Faraday said in a statement on Tuesday.

As part of the deal, Philips will provide its expertise in health software related to users’ wellness monitoring and aims to install it in Faraday’s upcoming FF91 and FF81 electric vehicles, according to the statement.

The tie-up could be a sign of Faraday’s renewed efforts to restart plans to mass-produce the FF91, its first luxury electric sports utility vehicle, which has been delayed by the company’s lack of capital.

Faraday has previously said that it will kick off production of the FF91 nearly nine months after closing a new round of funding. This will be followed by the development of the newly announced FF81 and other future car models, the automaker said.

In October, Faraday secured a bridge loan of $45 million to support the volume production of the FF91 and the development of the FF81, a move that came two weeks after Reuters reported that the carmaker was mulling a backdoor listing using a special-purchase acquisition company.

Faraday is closely watched in China having been established by the disgraced businessman Jia, who had his personal bankruptcy plan approved in May by a U.S. court, clearing the last barrier for the company to continue to raise new funds. Last year, Jia stepped down as Faraday’s CEO, and the newspaper China Daily reported he no longer holds any stake in the company.

Contact reporter Ding Yi (

Related: EV Startup Faraday Gets Financial Lifeline from U.S. Merchant Bank

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