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Faraday Future delays launch of electric FF 91

The company hopes to raise additional funding

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An editor at eMobilCar


  • 2 min read
Faraday
(Source: electrive.com)
Faraday
(Source: electrive.com)

American startup Faraday Future has again delayed the start of production of its luxury electric car FF 91. The startup now hopes to raise funding of $325 million by the end of the year to be able to start production in 2022.

According to the latest published schedule, the first FF 91 should be delivered to customers in July. Due to financial problems, the company says it wants to start deliveries "in the third or fourth quarter of 2022", but it still needs additional capital to do so.

Thus, earlier statements that the company did not need additional funds to start production were incorrect, or the price dynamics of many components in recent months could also make the calculations incorrect.

The company needs additional cash to commercially launch the FF 91 and is currently looking to raise additional capital to fund its operations through December 31, 2022

So it's also about being able to continue operations at all. In a presentation to investors, the company listed its capital requirements of $325 million through the end of the year.

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