Faraday Future (NASDAQ: FFIE) shares jumped nearly 2% in the pre-market trading Friday as the California-based electric vehicle (EV) startup revealed that a delegation from China’s automotive supply chain, consisting of more than ten enterprises, visited its headquarters in Los Angeles.
The visiting delegation included representatives from esteemed automotive supply chain and manufacturing entities such as Shanghai Yida Air Conditioning, Shanghai Suce Software, Lucky Yundu Auto, Zhi Xing Automotive Technology, and Kunshan Guoli Yuantong New Energy Technology.
During the visit, the delegation engaged in extensive discussions with several executives of FF, including Global CEO Matthias Aydt and YT Jia, Founder, Chief Product and User Ecosystem Officer. The talks mainly revolved around smart electric vehicle supply chains, with a particular emphasis on China.
Global CEO Matthias Aydt stated,
“Since the start of deliveries in 2023, the Company has consistently taken measures to reduce operational and supply chain costs in support of our strategic objectives. The delegation provided us with many insightful suggestions for supply chain management. We look forward to further discussions and collaborations in relevant areas.”
Founder and Chief Product & User Ecosystem Officer YT Jia expressed,
“Chinese supply chain enterprises are integral components of the global automotive industry, especially in the AI EV sector. With respect to establishing FF’s supply chain in China, these supply chain enterprises are poised to play a key role in building FF’s dual-home strategy in China and the U.S., as well as potential expansion in the Middle East. FF, which is rooted in the United States, will also provide unique value to China and the global automotive industry chain.”
The delegation from China’s automotive supply chain to Faraday Future (NASDAQ: FFIE) was a joint initiative organized by Xuan Yuan Academy, the World New Auto Technology Collaboration Ecosystem Association, and China’s Automotive Industry Going Global Collaboration Council. The Shanghai Zhejiang Chamber of Commerce further facilitated this collaborative effort.
The joint organization aimed to foster meaningful discussions and collaborations between Faraday Future and leading entities in China’s automotive supply chain.
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
