Faraday Future Intelligent Electric Inc., a California-based electric mobility ecosystem company, has announced that South Korea’s Myoung Shin Co., Ltd. has been contracted to manufacture Faraday Future’s second vehicle, the FF 81. Start of production is scheduled for 2024.
The FF 81 is a luxury, mass-market electric vehicle, with advanced connectivity.
Its user experience is tailored to a wider audience than the luxury FF 91, which is scheduled to launch in Q3, 2022.
Located near Seoul, South Korea, Myoung Shin is a parts supplier and automotive manufacturer for numerous first tier OEMs.
The plant in Gunsan, where the FF 81 will be manufactured, offers scale, flexibility, and port access.
Carsten Breitfeld, Global CEO of Faraday Future, says: “We are delighted to have a partner of the quality and reputation of Myoung Shin. This agreement to produce the FF 81 puts us on track to deliver on our promise to reach high volume production in 2024, the most important milestone on our path to profitability. Our own third quarter launch of the FF 91 will redefine the state of the art in the luxury EV segment, and with Myoung Shin, the FF 81 will bring our market-leading technology to the mainstream luxury segment.”
“We will work together with Faraday Future to build the future of the EV industry and offer top of the line, quality products to consumers,” adds Taekyu Lee, President of Myoung Shin. “Our vision as an EV contract manufacturer is to seek creation, innovation, reliability, accountability, and corporate citizenship, all of which we will provide to Faraday Future as we manufacture their FF 81 vehicle.”
Faraday Future says its strategy is based on an ‘asset-light business model, with a global, hybrid manufacturing strategy consisting of a leased manufacturing facility in Hanford, California operated by Faraday Future, and a collaboration with Myoung Shin’.