Faraday Future has delayed production of its FF91 flagship electric vehicle due to lack of money and supply chain issues, the company said in a regulatory filing.
The troubled EV startup-turned-publicly-traded-company said start of production and first deliveries of its FF 91 EV in the United States is now expected in the third or fourth quarter of 2022.
It’s possible that the company’s lack of cash may derail the EV altogether. Faraday Future warned in the filing that it is trying to raise additional capital to fund operations through the end of the year.
“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. “Apart from the FF 91 series, substantial additional capital will be required to fund operations, research, development, and design efforts for future vehicles.”