It has been noted that Faraday Future (FFIE.US) continued to rise, with an intraday increase of over 110%. At the close of the market, it increased by 73.21%. On the news side, Founder Jia Yueting's comments about Volkswagen's investment and cooperation with Rivian Automotive (RIVN.US) published on social media website X earlier were noted.

Volkswagen plans to establish a joint venture with Rivian Automotive and invest up to $5 billion in this electric vehicle manufacturer before 2026. The joint venture aims to jointly create the electrical/electronic architecture for the next generation of electric vehicles.

Jia Yueting said, "This investment in Rivian further highlights the huge potential of the American AI electric vehicle market and its leading advantages in technology and products. This has attracted the attention of global giants, and is also an important reason why I chose to start Faraday Future in the United States. We will continue to work hard to release Faraday Future's huge potential and unlimited possibilities as soon as possible."

Recently, Faraday Future announced that the board of directors has proposed a reverse stock split plan to increase the company's stock price and reduce the risk of being delisted by NASDAQ.