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Faraday Future Intelligent Electric (NASDAQ:FFIE) announced on Monday it has shipped one of the company’s latest production-intent FF 91 Futurist testing vehicles to Shanghai, China for market testing and validation.
The vehicle tests in Shanghai will including charging and infrastructure compatibility, along with other hardware and software applications.
Faraday Future said the shipment validates the planned promotion of a U.S.-China dual-home market strategy, which calls for production and sales in the world’s two largest auto markets. FFIE expects to start production of a saleable FF 91 Futurist in late March 2023, with deliveries in April, assuming receipt of investor funds on the expected timeline.
Shares of Faraday Future (FFIE) gained 1.45% in premarket action on Monday. FFIE fell 2.88% on Friday as part of a broad drop in the EV sector on pricing concerns.
