Global Automotive Stocks/EV Focus/Event Driven, SC Capital

SC Capital

Global Automotive Stocks/EV Focus/Event Driven

Over 22 years covering Japanese equities on both the sell side and the buy side. 

Bottom-up Japan Equities Research

Equity Bottom-Up

Faraday Future Intelligent Ele / Equity Bottom-Up

<ul>
<li>Farday Future failed to file its Q1 2022 financials by May 16th, saying it received an extension until May 23rd. This is the 3rd extension for Faraday's quarterly financials. </li>
<li>The company's cash has <em><strong>halved</strong></em> in the 3 months between the end of December 2021 and March 2022 end.</li>
<li>Disclosures are now cautious about its first model launch in July and its ability to fund operations through 2022. Finance needs stated to be $1.5bn or 2x its market cap. </li>
</ul>


Farday Future failed to file its Q1 2022 financials by May 16th, saying it received an extension until May 23rd. This is the 3rd extension for Faraday's quarterly financials. 
The company's cash has halved in the 3 months between the end of December 2021 and March 2022 end.
Disclosures are now cautious about its first model launch in July and its ability to fund operations through 2022. Finance needs stated to be $1.5bn or 2x its market cap. 


Faraday Future (FFIE) Fails to File Q1 Results; Changes Tone on 1st Model Launch Timing

SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

<ul><li>EV Startup Canoo confirmed this week what most market participants had been anticipating for months.</li><li>Management at Canoo warned investors that it might not have enough cash to ramp up operations and make it to the start of production.</li><li>Canoo isn't the only one who has issued a going concern warning over the last few months.</li></ul>

EV Startup Canoo confirmed this week what most market participants had been anticipating for months.Management at Canoo warned investors that it might not have enough cash to ramp up operations and make it to the start of production.Canoo isn't the only one who has issued a going concern warning over the last few months.

<ul>
<li>EV start-up Faraday Future (FF) will be de-listed by the Nasdaq if it fails to file its 2021 annual report &amp; Q1 2022 results by May 16th.   </li>
<li>FF has no revenues yet, but plans to start production in Q3. Cash as of March-end was only $273m vs cash burn of $181m &amp; payment obligations of $193m.</li>
<li>FF's growth strategy is risky &amp; relies on the ultra-luxury car market, which is peaking. Without financing, FF may struggle to survive this year.    </li>
</ul>


EV start-up Faraday Future (FF) will be de-listed by the Nasdaq if it fails to file its 2021 annual report &amp; Q1 2022 results by May 16th.   
FF has no revenues yet, but plans to start production in Q3. Cash as of March-end was only $273m vs cash burn of $181m &amp; payment obligations of $193m.
FF's growth strategy is risky &amp; relies on the ultra-luxury car market, which is peaking. Without financing, FF may struggle to survive this year.    


Faraday Future (FFIE): Not Looking So Bright

United States

Faraday Future Intelligent Electric Inc. operates as a mobility ecosystem company. The Company develops mobility ecosystem that integrates clean energy, AI, internet, and usership models. Faraday Future Intelligent Electric serves customers worldwide.

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Faraday Future Intelligent Ele (FFIE US)

Faraday Future (FFIE) Fails to File Q1 Results; Changes Tone on 1st Model Launch Timing

Faraday has rallied 66% since last Wednesday on short covering. The EV start-up has 3 quarters of cash left & stated it needs financing worth 2x...

SC Capital

EV SPACs are Facing a Reality Check

Management at Canoo warned investors that it might not have enough cash to ramp up operations and make it to the start of production.

subSPAC

Faraday Future (FFIE): Not Looking So Bright

This could be a rollercoaster long/short event by Monday, May 16th on yet another fraudulent electric vehicle SPAC, which happens to have...

SC Capital

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