Electric vehicle startup-gone-SPAC Faraday Future has raised a going concern warning, per regulatory filings. The company said it has substantial doubt as to whether it would be able to continue operating over the next year, adding that it is uncertain when it will dispatch first deliveries of its FF 91 luxury EVs.
This isn’t the first time Faraday Future has delayed deliveries of the FF 91s. In July, the company pushed its start of production and first deliveries to the third and fourth quarter, citing supply chain issues and a lack of money. Now, Faraday says it doesn’t expect deliveries to occur in 2022.
As of November 17, Faraday has 369 preorders, down from 399 refundable, non-binding, paid deposits it had as of June 30, according to the company.
Faraday cited many conditions that will affect the timing of deliveries, including whether suppliers meet their deliverables, the timing and success of certification testing and the implementation a …
