Faraday Future delays FF91 launch due to lack of money

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The marketing of the Faraday Future FF91 was fast approaching. But the electric SUV is now dependent on possible investment.

The Faraday Future project continues to seethe, with the FF91 becoming a real sea serpent. The luxury electric SUV we discovered in 2017 won’t go into production this summer. However, this was what the startup planned after the very difficult nurturing of this first model.

From now on, the brand announces the “third or fourth quarter”, a more than arbitrary date. After all, the launch of production and delivery to pre-order customers depend on potential investments.

Now Faraday Future needs $325 million before the end of the year to produce the FF91. A colossal sum that will be used to bring to life a modest number of orders for an SUV.

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“The company needs to raise money for the commercial launch of FF91 and is committed to raising capital to fund its operations by December 31, 2022,” the U.S. Exchange Commission (DRY) said in a filing.

The equation that Faraday Future has to solve today is identifying the identity of potential investors. Indeed, how to organize a fundraising campaign of several hundred million dollars for a project that has convinced only 401 clients in five years?

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