Why Faraday Future's Tomorrow Looks Doubtful
The future of EV startup Faraday Future Intelligent Electric, Inc. (NASDAQ: FFIE) seems far from assured.
"The Company needs additional cash to commercially launch the FF 91, and is currently seeking to raise additional capital to fund its operations through December 31, 2022," Faraday Future said in its July filing with the U.S. Securities and Exchange Commission.
Faraday has been struggling to launch its FF 91 supercar since it was unveiled at the Consumer Electronics Show in 2017. Five-and-a-half years later, production of the FF 91 is slated to launch in the third or fourth quarter of 2022. Whether that will happen remains to be seen.
Source Fool.com