Faraday Future withdraws full-year production forecast (updated)

Faraday Future Intelligent Electric

28/05/2024 22:14

(Adds shares in paragraph 2, details in paragraph 3)
       May 28 (Reuters) - Electric vehicle maker Faraday Future
 FFIE.O  said on Tuesday it was withdrawing its production
forecast for 2024 due to current market conditions and levels of
funding.
    Shares of the company fell more than 8% in extended trading.
        The company also said it received a letter from the
Nasdaq stock exchange indicating that its failure to timely file
its quarterly report for the quarter ended March 31 would serve
as additional basis for delisting the stock.

 (Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju
Samuel)
 ((Zaheer.Kachwala@thomsonreuters.com;))