Supply chain issues and lack of funds are to blame.
Deliveries have been pushed back to the 3rd or 4th quarter of 2022.
Faraday was founded in 2014 but despite much attention and investments from various sources, they’ve never managed to deliver a production vehicle. The FF91 was initially revealed in January 2017 at the CES and it’s still not in production.
Numerous controversies have plagued the company over the years including making a number of inaccurate statements leading up to its July 2021 IPO.
“Any challenges in supplier engagements, delays in ramping capacity or labor at the company’s Hanford, California manufacturing facility or for sales and service engagements, rising prices of materials, or ongoing global supply chain disruptions may further increase the need for additional capital to launch the FF 91 series,” the company said in the filing as reported by TechCrunch. “Apart from the FF 91 series, substantial additional capital will be required to fund operations, research, development, and design efforts for future vehicles.”
The production version of the FF91 was revealed earlier this year and claimed that they had over 14,000 orders. The real number turned out to be only 401.
Faraday Future’s future is, at best, uncertain unless they raise additional capital to fund operations through the end of the year.
