Electric vehicle manufacturer Faraday Future Intelligent Electric Inc. (FFIE) has been making headlines recently with the announcement of its flagship model, the FF 91, but its financial troubles and delivery delays remain a concern. In this article, I’ll discuss why the stock is taking a nosedive.
FFIE had announced in its quarterly report that is relying on a previously announced $135 million to meet its March 2023 production deadline for its flagship model, the FF 91 Futurist Alliance, but had only received $111.6 million so far, with the remaining $38.4 to $58.4 million expected to arrive soon.
