FF.com acquired by $1 billion car startup FaradayFuture.com

April 24, 2016 No Comments »
FF.com acquired by $1 billion car startup FaradayFuture.com

The previous owner of FF.com is Bank of America
Faraday Future is backed by Chinese entrepreneur Jia Yueting, currently has about 700 employees in the US. It unveiled a concept car in January, but has not put a vehicle on the market.

Yesterday Faraday Future announced that it Launches the Brand in China with the Asian Auto Show Debut of FFZERO1 Concept.

On April 13, 2016, Faraday Future started construction on a planned $1 billion State-of-the-Art Manufacturing Facility in North Las Vegas, Nevada

Upstart electric car company Faraday Future hopes to have its first vehicles rolling off the assembly line in 2018.

Nevada has pledged up to up to $335 million worth of incentives toward the project, which Gardena, California-based Faraday promises will employ some 4,500 people over the next decade.

43 year old Jia Yuting is #308 on Forbes world’s billionaires list with estimated net worth of $4.8 billion and #17 on China’s Rich List.

Jia Yueting chairs Leshi Internet Information & Technology Beijing, known as Leshi TV, one of China’s most popular online video sites.Jack Ma’s YF Capital and Wang Jianlin’s Wanda Investment invested in Jia’s privately-held sports news site “Le Sports” in May 2015. Jia once worked in tech support in a tax office in Shanxi Province. Early in his career he set up Sinotel, a wireless telecom company that went public in Singapore in 2008.

His letv.com acquired LE.com from Network Solutions.



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