Faraday Future announced today that it has delivered an FF 91 2.0 to Jim Gao, Global Vice President of Intelligent Network Application Platform, which marks that the company has delivered ten vehicles in 2023.
Jia Yueting issued an article on December 31, saying that this year is a “milestone” in the development history of Faraday Future: the company has formed a closed-loop operation and officially entered the stage of delivering revenue. At the same time, Faraday Future has completed a series of tasks such as SOP (small batch production), the first car rolling off the production line, the final release, the start of co-creation delivery, and the launch of the Middle East strategy.
Jia Yueting said, “We will continue to move forward with determination in 2024 and fully accelerate the promotion of China and the United States as dual home stadiums, a new chapter in the third pole of the Middle East!”
It is worth mentioning that Faraday Future received a notice from Nasdaq on December 28 regarding delisting or failure to comply with continued listing rules or standards. As of the time of publication, Faraday Future’s US stock price was US$0.20, with a market value of only US$25.596 million.
According to the notice, Faraday Future failed to comply with listing rules requiring a minimum closing share price of $1. And it must raise its share price to the required level for at least 10 consecutive days by June 25 next year to regain compliance.
Faraday Future Global CEO Matthias Aydt also said last month: “Based on the current analysis results of ShareIntel, we are deeply concerned that FF may have become the target of market manipulation and illegal short selling. The FF board of directors and management attach great importance to the interests of shareholders, and we will Take all necessary actions to prevent FF from being the target of market manipulation. We will continue to work with ShareIntel to combat potential manipulation and egregious illegal short selling and trading activities to help ensure fair market conditions.”
In the third quarter of this year, Faraday Future generated revenue for the first time – raising a total of $61.8 million through convertible notes, equity line of credit (ELOC) and ATM financing.
