Although it was announced earlier this year that the assembly had been completedThe first FF 91 near-production vehicle, and was expected to enter mass production in the third quarter of this year, but Faraday Future postponed the production and delivery of the first batch of mass-produced vehicles again on the grounds that it still needed additional funds.
It was originally expected to enter mass production in the third quarter of this year, but it is now apparently postponed to the end of the third quarter or the fourth quarter of this year before it will officially enter mass production and deliveries to the first batch of consumers who placed orders.
The FF 2018, which was initially announced as a vehicle for mass production and sales in 91 and later showcased at numerous public events, has yet to enter the market. Furthermore, compared to the context of 2018, the current market has seen a surge in competition from more electric vehicle companies, placing even greater pressure on Faraday Future.
Although Faraday Future has previously emphasized that it does not need additional funding to maintain operations before the actual launch of the FF 91, it has now announced that it needs additional funds to maintain operating costs until the end of this year.
Prior to this, Faraday Future originally launchedMerger with shell company Property Solutions Acquisition Corp (PSAC), officially listed on the Nasdaq Stock Exchange in the United States with the stock code "FFIE", but was subsequently determined by the Nasdaq Stock Exchange to be in non-compliance with listing regulations due to its failure to submit 10-K financial reporting documents.
At the time, Faraday Future stated that the company was conducting an internal investigation and needed more time to complete its 10-K filing. A recent statement further clarified that disciplinary action had been taken against Dominion employees, including the removal of founder and former CEO Jia Yueting from his relevant business execution positions. However, Jia Yueting will continue to serve as Faraday Future's Chief Product Officer, reporting directly to Chairman and current CEO Carsten Breitfeld. His responsibilities will be limited to product and travel ecosystems, internet, artificial intelligence, and advanced R&D, and he will no longer be responsible for business management.
