Written by Cláudio Afonso | LinkedIn | X
YT Jia, the founder of the electric vehicle (EV) startup Faraday Future, revealed on Wednesday that the company will deliver the next vehicle next week, on August 12. The delivery will represent the 13th vehicle overall and the second one year to date.
On X, Jia published a video admitting that the delivery ceremony was delayed while announcing that it will take place at the Pebble Beach Auto Show.
“First, we may deliver the 13th FF 91 2.0 on August 12th. While this is slightly later than initially anticipated, we have been diligently working to overcome supply chain challenges,” the founder stated.
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“Second, I will drive the FF91 2.0 to the Pebble Beach Auto Show next week. I look forward to sharing through live video the breathtaking scenery of PCH, and at the event itself, treating you to a feast of the world’s most luxurious cars”.
“We may also unveil further plants related to the launch event for our second brand and our China-US automotive industry bridge strategy,” he added.
Here’s the full video shared by YT Jia.
On the last day of July, shareholders approved all the six proposals at the company’s Annual meeting including the reverse stock split that will allow the stock to comply with the Nasdaq minimum bid requirement of $1.00.
Faraday Future has recently announced that it has entered into a Waiver Agreement with key investors to alleviate its cash payment obligations related to convertible notes, a new SEC filing revealed.
The agreement is part of the company’s ongoing strategy to manage liquidity while encouraging note conversions into common stock.
The Waiver Agreement involves holders of both secured and unsecured convertible notes issued under two separate Securities Purchase Agreements (SPAs) from August 2022 and May 2023.
Faraday Future has recently published its first quarter financial results reporting a revenue of $2,000 as no vehicles were sold to customers.
In the report of the financial results, the company said it will “keep working to optimize operations to support sustainability” including “ongoing evaluations of current cost reductions and spending efficiency”.
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Written by Cláudio Afonso | LinkedIn | X
