Only 13 cars delivered in 10 years? FF still has US$458 million on its books!

Faraday Future announced its second quarter financial report for 2024

1. Operation expenses dropped significantly to US$29.9 million, with significant cost control results.
2. Operating losses narrowed to US$50.6 million, and financial management made positive progress.
3. The use of cash in operating activities has been significantly reduced, and optimizing operations and saving expenses have worked.
4. Total book assets are US$457.9 million, net assets reach US$148.7 million, and the financial position is solid.
5. In-house manufacturing of the FF 91 body achieves cost savings and the production system becomes increasingly mature.
6. It is expected that costs will continue to decrease during the year, and cost control has achieved significant results.
7. Adjust operations and staff size to suit business needs and funding conditions.
8. Raised US$15.5 million in convertible note financing to support continued growth.
9. Senior employee Gao Wei became the latest owner of the FF 91 2.0 Futurist Alliance, marking the delivery of 13 vehicles and the initial result of Jia Yueting’s dream of building a car.

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