Faraday issued a press release describing the opening yesterday of its first global supplier summit in Los Angeles.

At that event, it said, FF founder Jia Yueting welcomed representatives from more than 100 different companies vying to supply components to the startup luxury electric car maker.

In the same release, Faraday said its first product, the FF 91 revealed at the January 2017 Consumer Electronics Show in Las Vegas, would go on sale by the end of this year.

The company’s assembly plant in Hanford, California, the replacement for a billion-dollar facility in North Las Vegas that is now on hold, will “begin to come online” this quarter, FF said.

The company updated the assembled suppliers on its plans and funding, hoping that they would “walk away with renewed confidence,” which its supply-chain head Pablo Ucar said he felt it had achieved.

Suppliers at the event included Korean battery company LG Chem, German parts maker Bosch, various Japanese companies including Fuji Technical and Miyazu, and U.S. lidar maker Velodyne, among others.

Meanwhile, as Business Insider notes, Faraday plans to launch a second electric car—this one a smaller crossover utility vehicle to be called the FF 81—for the Chinese market.

That vehicle is likely to debut at this year’s Beijing auto show, to be held in the second part of April.

While the FF 91 will carry a six-figure price, the FF 81 will be more affordable, according to a “source with knowledge of [its] product timeline.”

Chinese regulators are pursuing FF’s founder, Jia, over allegations of unpaid debts from companies he owned in China that total hundreds of millions of dollars.


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