"Riding on" the popularity of Rivian's investment by the public, Faraday Future surged more than 110% intraday
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Faraday Future's stock price rose by over 110% at one point during the trading day, closing up 73.21%. Volkswagen plans to establish a joint venture with Rivian Automotive and invest up to $5 billion in this electric vehicle manufacturer by 2026, aiming to jointly create the electrical/electronic architecture for the next generation of electric vehicles. Jia Yueting stated that this investment further highlights the potential and advantages of the American artificial intelligence electric vehicle market, and is also one of the reasons he chose to establish Faraday Future in the United States
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