By YANG Shihan
EV maker Faraday Future’s Q3 results show the company’s first-ever sales revenue at US$551,000 (4.02 million yuan), having delivered seven of its FF91 2.0 Futurist Alliance luxury SUVs.
FF is still some distance from the break-even point. The net loss of US$78 million in Q3 was less bad than the US$100 million lost in the same period last year. FF stock surged with the news closing more than 10 percent up on the day.
According to FF's plan, the goal for next year is to produce approximately 1,000 vehicles.
As of now, FF has delivered seven FF 91 2.0 Futurist Alliance vehicles to customers, with the company's founder JIA Yueting owning another vehicle. FF plans to accelerate deliveries, aiming to deliver five new vehicles in November and up its game to two per week by December.
The first Futurist Alliance was scheduled for delivery in April but faced repeated delays for various reasons. It wasn't until August that FF delivered its first vehicle, nine years after the company was set up.
All these delays have done no good for the brand image, and the company's stock price has been languishing below US$1, bringing the threat of delisting and bankruptcy.
