Faraday Future has announced it has been able to successfully secure a new round of financing to support the second phase of its Co-Creation delivery for the FF 91 2.0 Futurist Alliance.
According to a press release the company issued $16.5 million in convertible senior promissory notes, along with a common stock purchase warrant, to Streeterville Capital, LLC on August 4, 2023. The funding will go towards the second-phase delivery and sales preparation of the FF 91 2.0 Futurist Alliance, the company announced.
As part of its concept known as the Developer Co-Creation projects, the company continues to invite external partners to become Co-Creators for the upcoming Developer Co-Creation Festival, set to take place during Monterey Car Week in Pebble Beach, California later this month. At the event Co-Creators will discuss product development, brand marketing, technological advancement, after-sales service, and overall company operations.
The Developer Co-Creation projects encompass roles such as Futurist Product Officer (FPO), Futurist Marketing Officer (FMO), Futurist Spire Club (FSC), Futurist Technology Officer (FTO), Futurist Service Officer (FSO), and Futurist Operation Officer (FOO).
Faraday Future envisions that its partnerships with external Developer Co-Creators will bring substantial value to the company across a wide range of domains, encompassing product development, brand promotion, technological progression, and overall operational excellence.