Faraday Future’s 2023 balance sheet shows worrying financial and industrial numbers. Losses were enormous and production of the FF 91 Futurist Alliance did not take off.
It seems that there is still no light at the end of the tunnel for Faraday Future. After six years of struggle, we hoped for a brightening for the firm with its ambitious cars.
The announcement of the start of production seemed to be the long-awaited boost. But a report commissioned by the Exchange Commission shows that was not the case.
Despite the launch of production at the end of the first quarter, it did not take off. We learn that Faraday Future has only produced ten cars in nine months until the end of 2023!
The FF 91 is a concept dating from 2017. At the time, the hope was to compete with Tesla and its Model S, with a more luxurious model. But seven years later, the price exceeding $300,000 is no longer justified.
The 303 pre-orders that Faraday Future had at the end of 2023 have obviously not been honored. And it also has a huge impact on the company’s finances, obviously.
Faraday’s revenue was $784,000 in 2023. With production costs, the company’s net loss was $432 million.
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