US electric car startup FF to build China headquarters in Hubei

California-based electric startup Faraday Future said on Wednesday that it is planning to set up its China headquarters in the city of Huanggang, Central China's Hubei province.

This is part of an unbinding agreement the startup, established by Leshi Holding Group founder Jia Yueting in 2014, inked with the Huanggang government in the third quarter of last year.

FF did not give a specific schedule for the establishment of its China headquarters but said it will be jointly funded by the city government's fund, industrial funds as well as the company. Its global quarters will remain in Los Angeles.

According to the deal, Huanggang is also expected to actively assist FF with its industrial layout in the city and provide the carmaker with both financial support and favorable policies.

FF expects to start production of the saleable FF 91 Futurist at the end of March 2023. The vehicles are expected to come off the assembly line in early April and their deliveries will start in the same month.

The startup said the FF 91 Futurist has completed significant upgrades of systems and core components from both the vehicle body and its internet, autonomous driving and intelligence-related functions.

Hubei holds a prominent place in China's auto industry, with 2.1 million vehicles produced in 2021, accounting for over 8 percent of the country's total in the year.

The province boasts a comprehensive automotive industrial chain and the ability to develop and manufacture complete vehicles and key components. It is accelerating the efforts to build an electric and smart automotive cluster of nationwide significance.