Faraday Future postpones sales of its EV again, ‘going concern’ warning kept


Faraday Future Intelligent Electric Inc. FFIE, -6.79% said in a filing late Monday that the timing of the first deliveries of its FF 91 electric vehicle is “uncertain” and “not expected to occur in 2022.” In a previous filing, the EV maker pegged the delivery of the crossover for the end of the year. In Monday’s filing, the company said that the start of sales “remains subject to various conditions, many of which are outside of FF’s control, including the timing, size, and availability of additional financing.” Faraday kept a “going concern” language in the filing, as it had three months ago, sowing doubts about its ability to remain in business based on “recurring losses from operations since inception and continued cash outflows from operating activities.” Shares of Faraday Future ended the regular trading day down 6.8%. The company’s tumultuous year has included losing auditors and a board dispute.

This article was originally published by Marketwatch.com. Read the original article here.

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