Did Jia Yueting lose money again? Faraday Future recorded a net loss of 910 million yuan in the second quarter

Yes, Jia Yueting lost money again Faraday Future had a net loss of 910 million yuan in Q2

【Phoneauto News】Recently, Phoneauto noticed that the electric vehicle company Faraday Future announced its latest financial report data, showing a net loss of $125 million (approximately RMB 910 million) in the second quarter of 2023, compared to a net loss of $142 million (approximately RMB 1.034 billion) in the same period of 2022. As of the end of the second quarter of 2023, Faraday Future’s total cash amount was $17.89 million (approximately RMB 130 million), and its total current assets were $106 million (approximately RMB 772 million). Currently, Faraday Future reaffirms its goal of achieving business profitability and balanced operating cash flow by 2025.

On August 12, 2023, Faraday Future officially announced that they have delivered the first Futurist Alliance FF 91 2.0 luxury vehicle equipped with extreme intelligent technology to their first customer. The new car delivery ceremony was held on August 12, marking a significant milestone for Faraday Future as it enters the revenue stage and officially enters the complete operational closed-loop phase. According to the official introduction, the first customer of Faraday Future’s FF 91 2.0 Futurist Alliance is “Private Collection Motors,” a luxury car dealer in Costa Mesa, California, USA. This luxury car dealer specializes in selling high-end, prestigious, and rare vehicles to esteemed customers worldwide.

It is worth mentioning that Jia Yueting, the founder, partner, chief product, and user ecosystem officer of Faraday Future, also stated, “Our target audience is basically the top-tier users. At the very least, we will only sink to the upper part of the middle-tier market. We will not sink any further. Our FF brand will never launch products priced below 500,000 RMB, even if we introduce the 71 series, they will not be priced below 500,000 RMB.”

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