Faraday Future’s 2021 financial report released: a Net Loss of $517 million insists that Q3 can deliver FF91
According to @ Tencent Technology, on Friday, local time in the United States, Faraday Future (NASDAQ: FFIE) announced its fourth quarter and full-year financial results ended December 31, 2021.
According to the financial report, Faraday Future will have a net loss of US$517 million in 2021, compared with US$147 million in the previous year.Of this, operating expenses were $354 million, compared to $65 million in the prior year.
Faraday Future stated that the change in the net loss was due to expenses such as a significant increase in operating expenses, which mainly included an increase in engineering, design and testing (“ED&T”) services to advance the manufacture of the FF 91; Platforms pay licensing fees with sub-licensing rights; increases in professional services and legal fees, etc.
As of December 31, 2021, Faraday Future’s cash balance was US$505 million (about 3.434 billion yuan).
The cash balance as of March 31, 2022 was US$276 million (approximately RMB 1.877 billion).
Faraday Future said part of the reduction in cash was due to the planned repayments of $97 million in notes and interest due between December 31, 2021 and March 31, 2022.
Faraday Future Global CEO Carsten Breitfeld said: “We made significant progress in the fourth quarter, achieving several key milestones at our Hanford manufacturing facility and reaching new Tier 1 suppliers and partners. protocol.In a challenging logistics and supply chain environment, we are working closely with our partners and remain on track to launch in the third quarter of 2022.“
Hashtag: Faraday Future FF91 Jia Yueting
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