The delivery of Faraday's first electric car, the FF 91, has been delayed again, and there is no hope this year.
On September 27, according to foreign media reports, the delivery of the future FF 91 electric vehicle of Faraday, an electric car startup, was delayed again.
In 8murk filings with the Securities and Exchange Commission (SEC), the company made it clear that it did not expect to start delivering its first electric car, the FF 91, in the third or fourth quarter of 2022.
The FF 91 was launched as a concept model in 2017. At the time, it was said that the car would start production in 2020. The car, Faraday's future flagship product, has 1050 horsepower and speeds up to no more than 2.4s at 100km, and will be produced at the company's Hanford plant.
Faraday has been having trouble raising money in the future. In 2019, Jia Yueting, the company's founder, filed for personal bankruptcy. Now, by 2022, the company is still short of funds.
In a filing to SEC in July, Faraday said it needed additional funds to launch FF 91 and hoped to raise about $325 million by the end of the year to fund its operations.
On Monday, local time, the company said it had received as much as $100 million. Just a month ago, however, the company issued the latest warning that it was running out of money. Despite the capital injection now, the company warns of possible cost cuts and layoffs in the future.
On the same day, Faraday Future said in a statement that the company was seeking more funds to ensure that the company would operate until the end of 2022 or longer, and continued active discussions with funding providers to finance the production and delivery of its FF 91. After that, the company will decide on the production and delivery time of FF 91.
In November last year, Faraday Future reiterated its goal of delivering the first FF 91 in July 2022. But in July, the company said it had to postpone delivery of FF 91 to the third or fourth quarter of 2022 because of cash shortages and supply chain problems. Now, the delivery of the car has been delayed again.
Although the future of FF 91 is still uncertain, the company has announced plans to produce a second car, the FF 71, in China.
"regaining control of Faraday in the future, Jia Yueting said it would usher in a" major inflection point and will make every effort to sprint FF 91 for mass production delivery ".
"regain control! Jia Yueting and partner firm reorganize Faraday's future board of directors, and the current chairman will take the blame and resign. "
