Jia Yueting’s dream of building a car and the road back to China are getting more and more difficult. According to reports, this morning Faraday Future announced its financial results for the third quarter of 2021, with a net loss of $304 million for the third quarter ended September 30, 2021, compared with a net loss of $33 million in the same period last year. In fact, the financial report should have been announced as early as last year, but it has been delayed until now due to its internal reasons. For the increase in net loss, Faraday Future stated that it was mainly due to the significant increase in operating expenses, related party bills payable, bills payable denominated at fair value, losses from changes in fair value of warrant liabilities, and processing of related party bills payable, bills payable and payable to suppliers losses incurred. According to the financial report, Faraday Future’s operating expenses for the third quarter ended September 30, 2021 were $186 million, while operating expenses for the three months ended September 30, 2020 were $18 million. As of September 30, 2021, Faraday Future’s cash and cash equivalents balance was $666 million. Cash balance as of March 31, 2022 was $276 million, including planned repayments of $97 million in notes and accrued interest. Faraday Future.
[related_posts_by_tax taxonomies=”post_tag”]
The post Can Jia Yueting still succeed?Faraday Future’s 2021 Q3 financial report announced: a net loss of $304 million appeared first on Gamingsym.