MS Autotech said on Monday that its plan to be an original equipment manufacturer (OEM) for Chinese electric vehicle maker Faraday Future will continue despite the allegations over the latter publishing inaccurate disclosures.
An MS Autotech spokesperson said despite the share prices of Faraday Future falling, the pair’s OEM contract hasn’t been affected.
MS Autotech will manufacture Faraday Future’s electric vehicles at its factory at Gunsan starting at the end of 2023 or early 2024, they added.
Faraday Future received much attention at CES 2017 when it unveiled its electric SUV FF91 at the event.
The company, despite delays in launching FF91, successfully listed on Nasdaq in July.
However, a person familiar with the matter said MS Autotech’s plan may face trouble as it had bought the factory lands at Gunsan after agreeing to enter the electric vehicle OEM business for Byton.
But Byton has gone into bankruptcy this year, and the South Korean company had been in talks with multiple Chinese companies besides Faraday Future to not let the lands it purchased for an OEM factory go to waste, they added.