Faraday Future will lose 3.5 billion in 2021! FF 91 bookings are only 401 units – loss, Faraday Future, FF91 – Fast Technology (Driven Home’s media) – Technology changes the future

A few days ago, Faraday Future (hereinafter referred to as FF) announced its fourth quarter and annual financial results for 2021. The financial report shows that,FF’s net loss in 2021 is $517 million (about 3.5 billion yuan),Net loss for the same period in 2020 was $147 million. As of December 31, 2021, FF’s cash balance was $505 million; as of March 31, 2022, the cash balance was $276 million.

In the loss-heavy annual report, the only good news is that the first car, the FF 91, will be delivered in the third quarter of 2022. FF official data shows that,As of March 31, 2022, FF 91 pre-orders stood at 401 units.

According to the annual report, FF Top Holding is the largest shareholder of FF, holding 36.2% of the shares. FF Top Holding is controlled by the management of FF, and the FF Management Committee holds 80% of the shares of FF Top Holding, while the other 20% is held in trust by Jia Yueting’s creditors.

Season Smart Limited, an indirect subsidiary of Evergrande Group, is the second largest shareholder of FF, holding 20.5% of the shares. In addition, Founding Future Creditors Trust holds a 6.1% stake.

Among directors and executives,Jia Yueting personally holds 72,749 shares, accounting for less than 1%;CEO Bi Fukang holds 866,637 shares, accounting for less than 1%.

According to reports, the FF 91 prototype debuted in 2017, and announced mass production at the end of 2018, with delivery in the first quarter of 2019. However, due to the competition between Jia Yueting and Evergrande for control, the mass production plan was shelved; in July 2020, Jia Yueting once again announced that “there is only one foot left before mass production”, but failed to materialize; on February 24, FF The 91 quasi-production car rolled off the assembly line.

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