Faraday Future finally starts FF 91 production after repeated delays
The company struggled with numerous financial issues over the years.
When Faraday Future released its earnings report for 2022 earlier this month, it said it's on track to begin the production of its first vehicle. The company had a lot of false starts since it was founded in 2014 and had to push back the model's production and shipment dates again and again. This time, the company was finally able to stick to its timeline: Faraday Future has announced that it has started production for the FF 91 Futurist electric vehicle at its factory in Hanford, California.
Faraday Future unveiled the FF 91 Futurist in February 2022, with the intention of kicking off the manufacturing process in the third quarter of the year. It obviously didn't happen, and the company told investors that it was because it needed more cash for its commercial launch. Indeed, the automaker grappled with a string of financial woes over the years and even almost ran out of cash in 2017 before Season Smart, later acquired by Chinese company Evergrande Health, agreed to fund it with $2 billion.
Faraday burned through Season Smart's initial $800 million cash injection too quickly, however, and ended up feuding with the investor. The company furloughed (and ultimately let go) hundreds of employees while the dispute was ongoing. It also had to abandon its plans to build a $1 billion Las Vegas production facility and sell the site for $40 million.
The FF 91 Futurist promises 1,050 horsepower, a range of 381 miles as certified by the EPA and the ability to go from zero to 60 mph in 2.27 seconds. It will be sold both stateside and in China — in the US, customers in Los Angeles will get their units first, followed by those in San Francisco and then buyers in New York. According to Reuters, deliveries in the US are scheduled to begin in April 2023. The company itself didn't mention a specific date for when deliveries will start, but it did announce a final launch event for the FF 91 Futurist on April 26th.