Hyperdrive
Faraday Future Delays Launch of Debut EV, Warns Cash Is Short
- Company sees FF91 SUV coming in third or fourth quarter
- Startup hopes to raise $325 million to fund through year-end
The Faraday Future FF91
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Faraday Future Intelligent Electric Inc. is pushing back the start of production and deliveries of its long-awaited debut vehicle to the “third or fourth quarter of 2022,” and says it needs additional capital to pull off the launch.
The Los Angeles-based electric vehicle startup, which went public in a July 2021 merger with a blank-check company, had previously said it planned to launch the battery-powered SUV as soon as this month.