The9 will be a 50% partner in the joint venture with control over business operations. The joint venture will serve the China market wit
Source: www.prnewswire.com
The9 Limited and Faraday&Future have entered into a Joint Venture (JV) to manufacture, market, distribute, and sell electric cars in China. As per the terms of the JV, The9 will infuse US$600 million in 3 equal installments to the JV. Faraday&Future will make contributions such as its use right in a piece of land in China for electric cars manufacturing and will grant the JV an exclusive license to manufacture, market, distribute and sell Faraday Future’s new brand V9 model and other potential car models in China. The9 and Faraday&Future will each have 50% ownership of the JV, while The9 will control the business operations of the JV.
