Wed. Aug 10th, 2022

Faraday Future has signaled that it will have to raise more money to start production of the FF91, an electric crossover that was first shown more than five years ago.

In a regulatory filing issued Monday, the electric vehicle startup said it is in talks to raise money to finance “manufacturing operations” through the end of 2022 and beyond.

In the same filing, the company said it will also have to raise money to finance “operations” until the end of 2022, as well as “commercially launch” the FF91.

The company said it is looking to raise over $ 200 million in total.

Despite headwinds, Faraday Future plans to start production and deliver the first FF91 crossovers in the United States in the third or fourth quarter of 2022. Production is scheduled at Faraday Future’s plant in Hanford, California.

The vehicle’s expected starting price is $ 120,000, although only a special futuristic model will be available at launch. It has a targeted starting price of $ 180,000. In May, we learned that the company only had 401 pre-orders for the FF91 at the end of the first quarter of 2022.

Smaller FF81 and FF71 crossovers are expected and are expected to start at $ 74,000 and $ 45,000, respectively. Faraday Future is also designing a delivery vehicle.

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