How Much Faraday Future Invested In Their Company

It’s not simple to start a car manufacturing business. It’s a sizable job that needs a significant time, financial, and material commitment. Faraday Future invested a lot in their business. Let’s examine!

Being an EV enthusiast I always wonder how much Faraday Future invested in their company. After doing my proper research I have written this article to share how much Faraday Future invested in their company.

From its foundation in 2014 till now, the company has changed its production timelines. And pushed back the final launch date of FF 91 multiple times. There can be multiple factors that count towards this delay such as financial struggles, leadership issues, and covid-19 pandemic [1].

The business nonetheless intends to finish producing FF 91. And it will be available by the end of this year.

In this article we have covered the following things:-

  • Background of Faraday Future
  • Production Timelines
  • Launch Events
  • When was the Faraday Future’s Vehicle’s Disclosed?
  • Latest Investments
  • Financial Plans of Faraday Future

Background of Faraday Future

An American-based business venture, Faraday Future (FF) founded in 2014 by Chinese businessman Jia Yueting. Their R&D and testing facility is located in Los Angeles, California. FF also has offices in other locations such as Silicon Valley, Beijing, Shanghai, and Chengdu.

FF’s philosophy has always been to adopt innovative solutions and integrate them with an AI-based structure to provide valuable products and services. FF’s vision is to design a holistic approach to smart mobility systems for everyone [2].

Read How Do Faraday Future Reduce Their Operational & Labor Costs

To achieve this vision the company has already done a high investment in developing its flagship model FF 91.

In this article, we will discuss how much Faraday Future invested in their R&D and production of various electric vehicles; and how much they require further investment to continue operations.

Faraday Future Luxury Electric Car FF 91 Interior
Faraday Future Luxury Electric Car FF 91 Interior

Production Timelines

In November 2015, Faraday Future’s new manufacturing plant was supposed to be built in North Las Vegas with $500 million in funding from AECOM. Plant construction was started in April 2016 by a Nevada company but the firm postponed this project FF’s financial viability was not verified.

In May 2016 Faraday Future made a six months agreement with the City Council of Vallejo, California to build a car manufacturing plant at Mare Island, California. This was a big project and intended to bring millions of dollars in investment to the state economy.

This project will be considered to be the second-largest car manufacturing facility to be built from scratch in California.

In March 2017, Faraday Future terminated its exclusivity contract with the City of Vallejo. Due to intentions to build a car manufacturing facility in North Las Vegas.

Due to financial challenges faced by Faraday Future, the company July 2017 announced that it would not be able to build a manufacturing facility in North Las Vegas.

The FF further signed a lease agreement with the Pirelli tire plant in Hanford, California. The agreement was made to produce 10,000 cars annually at that location. That deal also included hiring 1,300 resource personnel over time [3].

Read Key Differences between Faraday Future and Tesla

Launch Events

Faraday Future had planned to launch its first electric vehicle in 2017 and also wanted to produce different EV categories on a large scale. The company also proposed to enter into various other domains of the automobile industry. For example, AI-based self-driving designs, the role of content application in driving vehicles, and the introduction of various ownership models.

An American automobile magazine in July 2015 disclosed various features of FF’s proposed electric vehicle, and most of the features are better if compared with the Tesla S car. Such as modular design-based manufacturing, battery packs with multi-cell solutions, and higher specific gravity.

In November 2015 the company revealed further unique features at the LA Auto Show. They include uninterrupted internet access, in-car media entertainment, aromatherapy science, and an ergonomic interior design facility.  

When was the Vehicle Disclosed?

The first concept vehicle was disclosed at the US Consumer Electronics Show in January 2016. The vehicle named FF Zero1 was proposed as a single-seat sports car with 1,000 hp (750 kW), and 200 mph (320 km/h) powerful specifications.

Read Faraday Future Luxury Electric Car FF 91

Variable Platform Architecture (not in the concept vehicle) was demonstrated which gives the flexibility of designing various body shapes and battery configurations. Despite declaring designs, technical details and deadlines were not given, which made their followers disappointed.

Faraday Future Luxury Electric Car
Faraday Future Luxury Electric Car

At the US Consumer Electronics Show in January 2017, Faraday Future presented its high-end model FF 91 130 kWh crossover car, which was its first production vehicle. FF got 64,124 bookings within the first 36 hours, despite the presented vehicle not performing well on stage.

In April 2019 FF signed with a Chinese company The9 to introduce the V9 car specifically for the Chinese market. Till now after eight years of journey, why did FF not launch its first vehicle? The primary reason for this is the financial challenges of the company which will be discussed in a later section.

Latest Investments

On March 15, 2022, Faraday Future announced that it will raise a further $600 million in funding and hope to deliver the flagship model FF 91 later this year. A new financing agreement will give the organization an initial infusion of $52 million of money.

As of August 9, its cash on hand was $52.2 million. In July this year, FF announced that it needed extra capital investment to continue its production through December 2022.

The flagship vehicle FF 91 is priced starting from $120,000 in line with other luxury cars like Rolls Royce. However, FF also declared that the other variants of FF 91 will be lower in price.

Company prototypes have been appraised by people; leadership issues and financial struggles have made FF details from production. Despite the financial crisis FF faced.

It looked in the forward direction and recently signed an agreement with Geely, one of the biggest Chinese car manufacturing groups. Investors have expressed interest in providing Faraday Future with more capital.

But only up to a smaller amount than the required $325 million and under certain restrictions. But how FF will return this is still in question.

Read Faraday Future FF91 – The Fastest Charging Electric Car: How It Changes The Future of Charging?

Financial Plans of Faraday Future

On July 22, 2022, Faraday Future got listed on the Nasdaq stock exchange, ticker symbol (NASDAQ: FFIE). Shareholders have seen a rapid rise in the stock value, even the share value got tripled in the first few weeks of July. But after some time the stock value got down with an 18.6% loss to investors.

As of August 2022, Faraday Future reported a net loss of $142 million including $137 million of operating losses. FF has announced that it has to acquire more money to launch its high-performance FF 91 electric car by the third or fourth quarter of this year.

Faraday Future FF91
Faraday Future FF91

After getting an investment agreement with institutional investors in giving $52 million of capital with a future potential of investment raising to $ 600 million; further investing in FF will be risky. The reason for showing increased risk investors is the past planning flaws by the company.


To present Faraday Future has been successful in getting total funds of  $3.2 billion in more than eight rounds. The last funding received was on 15 August 2022 in the form of a convertible note. Companies that has invested in Faraday Futures ATW Partners and Birch Lake Partners have done the latest investments.

FF’s CEO shared the news that they will be able to deliver their flagship car FF 91 in quarter 3 or 4 this year. However, a lot depends on the capability of its California plant activities. Its CEO asserts they are almost ready to finalize the production and delivery of vehicles.

Faraday Future has invested $47.2 million in U.S. cash on hand as of August 26, 2022, and $1.5 million in restricted cash. The company has taken steps to protect its financial position, such as lowering spending, extending payment cycles, and putting other similar measures in place.

Read Top 5 EV Cars at Auto Expo 2023

Now a recent news update by Reuters is that the FF corresponding shares that the delivery of FF91 could even get delayed till the last quarter of 2022 with testing, and validation completed. The reason stated by the company is the supply chain issue related to parts.

FF hopes that its flagship vehicle FF 91 will be a valuable addition to the luxury class of vehicles. The FF 91 will be the first luxury, high-performance, intelligent, and high-end EV. It will change what consumers wanted from a driving and riding experience.

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