text: Original by Dongchedi Xing Qiuhong
[Original by Dongchedi Industry] On October 27, Faraday Future (Faraday Future , referred to as FF) announced that it would appoint Yun Han as the Chief Accounting Officer and Interim Chief Financial Officer, effective from October 25, 2022.
FF 91
FF also announced that it has received all previously announced US$55 million (approximately RMB 398 million) financing as scheduled from an affiliate of ATW Partners LLC, and is expected to receive the first US$10 million (approximately RMB 72.36 million) funds under the previously announced US$60 million financing agreement this week. Although there has been funds injected by
, there is still a funding gap in FF. Just the day before, FF was exposed to cut salary by 25% to all employees from next month. According to people familiar with the matter, the company just laid off dozens of employees earlier this month.
FF ieFactory California Manufacturing Factory
Financial report shows that as of September 21, 2022, the company's cash payment in the United States was US$33.5 million, of which the restricted cash was US$2.1 million. Faraday Future expects that the company will consume US$290 million in operating cash from September 1 to December 31, 2022, while it will consume approximately US$710 million in full year 2022.
FF founder Jia Yueting
At the same time, the mass production of FF 91 has been delayed repeatedly. In 2017, FF 91 was officially released, and it has been more than 5 years since then. It was originally scheduled to be delivered in July this year, but it has been delayed again and again. The latest news is that there is no hope of delivery of FF 91 this year. According to foreign media reports, if FF wants to start producing FF 91, it will need to raise more than $200 million in additional funds.
