FF net loss of USD 517million in 2021 From Faraday future financial report

The following is the FF net loss of USD 517million in 2021 From Faraday future financial report recommended by recordtrend.com. And this article belongs to the classification: Automobile industry.

Recently, Faraday future (hereinafter referred to as FF) announced the fourth quarter and annual financial results of 2021. The financial report showed that FF had a net loss of USD 517million (about RMB 3.5 billion) in 2021 and a net loss of USD 147million in the same period of 2020. As of December 31, 2021, FF had a cash balance of USD 505million; As of march31,2022, the cash balance was USD 276million.

In the loss oriented annual report, the only good news is that the first car FF 91 will be delivered in the third quarter of 2022. According to FF’s official data, as of march31,2022, the reservation volume of FF 91 was 401.

According to the annual report, FF top holding is the largest shareholder of FF, holding 36.2% shares. FF top holding is controlled by FF’s management. The FF management committee holds 80% of the shares of FF top holding, while the other 20% is held by Jia Yueting’s creditor trust.

Season smart limited, an indirect subsidiary of Evergrande group, is the second largest shareholder of FF, holding 20.5% of shares. In addition, the founding future credits trust holds 6.1% of the shares.

Among directors and senior executives, Jia Yueting personally holds 72749 shares, accounting for less than 1%; CEO Bifukang holds 866637 shares, accounting for less than 1%.

It is reported that the FF 91 prototype was first unveiled in 2017. It was announced that mass production would be achieved by the end of 2018 and delivered in the first quarter of 2019. However, as Jia Yueting and Evergrande vied for control, the mass production plan was shelved; In July, 2020, Jia Yueting once again announced that “there is only one foot left for mass production”, but it failed to materialize; On February 24, FF 91 quasi mass production vehicle was offline.

Read more about zikuai Technology: Faraday’s future financial report: in Q3 of 2021, Faraday’s future net loss was US $304 million, and its three-month operating expenses were US $18million. Faraday’s future financial report: in 2021, Faraday’s future net loss was US $517million, with a year-on-year expansion of future market insights: in 2019, the global car rental market value was US $116billion. China Automobile Industry Association: a brief introduction to the operation of the automobile industry in May 2021. China Automobile Circulation Association: April 2020 Monthly report on China’s imported automobile market China Automobile Circulation Association: in the first quarter of 2020, luxury brands added 57 authorized 4S stores and 41 off-line 4S stores. China Automobile Circulation Association: in March 2020, the sales volume of the domestic narrow passenger car market reached 1045000, a year-on-year decrease of 40.4% Value rate report Ministry of Commerce: from January to may 2020, China exported 373000 slashgears: the survey found that many American car buyers paid too much for their car loans. E-Car Research Institute: 2021 mini car insight report (attached) China Automobile Circulation Association: analysis of China’s automobile parallel import from January to November 2021 China Automobile Circulation Association & accurate evaluation: Research Report on China’s automobile hedging rate in May 2021; the domestic automobile hedging rate will be reduced by half in three years

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