Brief: Faraday Future Withdraws Its Production Target Forecast For 2024

Faraday Future Intelligent Electric

28/05/2024 22:07

May 28 (Reuters) - Faraday Future Intelligent Electric
Inc  FFIE.O :
    * FARADAY FUTURE - GIVEN CURRENT MARKET CONDITIONS AND
CURRENT
LEVELS OF FUNDING CO IS WITHDRAWING ITS PRODUCTION TARGET
GUIDANCE FOR 2024
    * FARADAY FUTURE: COMMITTED TO INCREASED PRODUCTION AND
DELIVERIES
WHILE MAINTAINING FINANCIAL DISCIPLINE
    * FARADAY FUTURE: CONTINUES PURSUIT OF ADDITIONAL
SIGNIFICANT
STRATEGIC INVESTORS
    * FARADAY FUTURE - FOR FISCAL 2023, FF PRODUCED ITS FIRST
YEAR OF
REVENUE AS WELL AS A REDUCED OPERATING LOSS, AND CASH USED IN
OPERATING ACTIVITIES
    * FARADAY FUTURE - FF REPORTED REVENUE OF $0.8 MILLION FOR
2023
AND COST OF GOODS SOLD OF $43 MILLION, COMPARED WITH NO REVENUE
AND COST OF GOODS SOLD IN 2022
    * FARADAY FUTURE: DOES NOT PLAN TO ISSUE ADDITIONAL SHARES
UNLESS
AND UNTIL CO RECEIVES SHAREHOLDER APPROVAL TO INCREASE TOTAL
AUTHORIZED SHARE COUNT

Source text for Eikon:  ID:n0001213900-24-047116 
Further company coverage:  FFIE.O 

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