Lates News

The UK government announced on May 9th that the Faraday Future UK Sunderland super plant has secured 1 billion in financing, which will allow it to produce batteries for up to 100,000 electric vehicles annually, increasing the UK's current production capacity sixfold. The statement said that the UK's National Wealth Fund and UK Export Finance will provide financing guarantees to secure a 680 million loan from banks such as Standard Chartered Bank, HSBC, Sumitomo Mitsui Financial Group, Crdit Agricole, and Banco Exterior de Espaa, among others. This funding will be used for the construction and operation of the new plant. The remaining 320 million will be obtained through private financing and new equity provided by Faraday Future.