FF 40 FF 91 vehicles have already been produced and the first phase of delivery will start at the end of May
FF 40 FF 91 vehicles already produced, delivery's first phase to start end of May
【PhoneAuto News】 On May 12th, PhoneAuto learned that Faraday Future (FF) announced its Q1 2023 financial report. During the investor conference call, FF stated that the company’s goal remains consistent with the previously announced plan, which is to start phase one delivery of the FF 91 at the end of May. So far, FF has produced 40 vehicles for engineering, testing, marketing, and users, and has manufactured all vehicles required for FMVSS testing. FF stated that its goal is to provide the highest quality FF 91 vehicles to its users as soon as possible.
FF’s Q1 2023 financial report shows a significant decrease in losses in the first quarter, and FF 91 production is progressing smoothly with normal delivery plans. Among them, the successful completion of vehicle collision testing projects received the most attention from the public. As of March 31, 2023, FF’s quarterly operating expenses were $83 million, quarterly net income was $6.5 million, and net cash used in operating activities was $103.2 million. In terms of the balance sheet, as of March 31, 2023, FF had cash of $33 million, including $1.5 million in restricted cash.
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Previously, on March 30th, Faraday Future officially announced the production of the FF 91 Futurist mass-produced model. FF Global CEO Chen Xuefeng, FF founder and CPUO Jia Yueting, FF Global Product Executive Vice President Matthias Aydt, and others gave speeches and demonstrated the FF ieFactory California factory in California, USA. Jia Yueting exclaimed in his speech, “Nine years, suffocating for a dream.”
It is worth mentioning that the delivery of the FF 91 has been delayed multiple times. Whether the FF 91 can be delivered as scheduled this time remains to be seen.
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