Faraday Future Intelligent Electric

Faraday Future (FFIE): Not Looking So Bright

Equity Bottom-Up
295 Views, 11 May 2022 10:18
SC has highlighted this Insight as a Top Pick
EXECUTIVE SUMMARY
  • EV start-up Faraday Future (FF) will be de-listed by the Nasdaq if it fails to file its 2021 annual report & 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 & payment obligations of $193m.
  • FF's growth strategy is risky & relies on the ultra-luxury car market, which is peaking. Without financing, FF may struggle to survive this year.    

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