On November 14th, Faraday Future (FF), which was listed on NASDAQ, released its third quarter financial report. The company has delivered 7 FF 91 2.0 Futurist Alliances to new users and will hold the "FF Middle East Strategy Launch" during the F1 Grand Prix in Abu Dhabi at the end of November, conveying the complete vision of Faraday Future's connected travel, co creation, and smart technology to the world, showcasing the performance of the FF 91 2.0 Futurist Alliance.
Faraday will generate revenue for the first time in the third fiscal quarter, with a sales cost of $16.1 million and an operating loss of $66.4 million, compared to a loss of $80 million in the same period last year. The narrowing of the operating loss is mainly due to a decrease in research and development expenses, followed by an improvement in management expenses. Faraday's future car sales revenue includes revenue related to new car delivery, as well as specific other features and service revenue, including home chargers, charger installation, 24/7 roadside assistance, software updates ("OTA"), internet connectivity, and destination expenses (offset by certain co creation expenses).
Faraday Future revealed that the company will also hold an Investor Day event at its global headquarters in Los Angeles on November 15 (Beijing time). Analysts and investors participating in the event will test drive the FF 91 2.0 Futurist Alliance, and investors can watch the live broadcast on the investor relations page of the company's official website.
Faraday Future revealed in its financial report that the company will hold the "FF Middle East Strategy Conference" at the end of November during the Abu Dhabi F1 Grand Prix. Faraday Future said that the Middle East market has brought exciting opportunities for intelligent and autonomous vehicle, which is very consistent with FF's product technology and brand positioning. It is expected that the press conference will become the first step of the company's future cooperation and activities in the Middle East. At present, the company is facing huge development opportunities, and the professionalism and passion of the management team prove that the company is ready for the next stage of development. By collaborating with industry leaders and top tier figures, the company expands brand appeal, enhances brand awareness, deepens connections with users, and creates a richer brand experience.
Faraday Future introduces that according to the company's current factory improvement and climbing plan, the third phase of delivery will begin at the end of the first quarter of 2024, which is the comprehensive delivery of vehicles to users. The company's goal for next year is to achieve production of approximately 1000 cars, provided that it can obtain the necessary capital, supply chain capacity and stability, and obtain necessary permits.