Faraday Future raises $41 million

Faraday Future  has secured a new $41 million financing commitment, pushing its total fundraising to over $100 million since September 2024.

The Los Angeles-based EV company plans to use the funds to support the development of its new FX vehicle line, expand AI capabilities—including autonomous driving—and continue production of its FF 91 2.0.

This marks Faraday’s third financing round of at least $30 million in six months, following rounds in September and December 2024. The latest investment includes unsecured convertible notes and warrants, with an additional $10 million potentially committed before closing. Univest Securities acted as exclusive placement agent.

“This new round of funding lays a solid foundation for not only FF but also our new FX brand as it continues to make important milestones in market strategy and in product development. I am optimistic about the opportunities that this new funding will bring, including supporting the ongoing production of our FF 91 2.0 and the growth of the FX brand in 2025.” – Matthias Aydt, Global CEO of FF.