Faraday Posts Losses, Awaits Capital to Start Making Car Unveiled in 2017

Following more than four years of delays, electric-vehicle (EV) maker Faraday Future Intelligent Electric Inc. said it is on track to start production of its first car model at the end of the month if it receives promised funds, despite posting widening losses for 2022.

The company reiterated plans to begin production of its first EV model, the FF 91, on March 30 with initial deliveries promised for end of April — provided that it can obtain investors’ funds in time and that suppliers meet its requirements. Faraday delayed production of the long-awaited model four times since its launch in 2017 due to insufficient capital.