Faraday Future delays the launch of its first electric vehicle yet again
, the embattled company has revealed in a filing for investors that it has to push back the EV's production yet again and that it needs more cash for its commercial launch.
Apparently, the company said it has to delay FF91's deliveries to the"third or fourth quarter of 2022." Seeing as the third quarter has already started, it's now likely aiming for late Q3 — that said, the fourth quarter seems more likely, and that is if Faraday Future's plans finally go as intended.
Faraday Future was founded in 2014 and planned to launch its first electric vehicle way back in 2018. It's had to postpone launching its EV several times over the past years as it grappled with a litany of financial issues. The company almost ran out of cash in 2017 until a company called Season Smart, which was later acquired by Chinese company Evergrande, agreed to invest $2 billion in it.
Season Smart's $800 million initial cash injection, though, and it spent 2018 feuding with its main investor.
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