In 2021, Q3 Faraday’s future net loss is US $304 million, and its three-month operating cost is US $18 million From Faraday future earnings

The following is the In 2021, Q3 Faraday’s future net loss is US $304 million, and its three-month operating cost is US $18 million From Faraday future earnings recommended by recordtrend.com. And this article belongs to the classification: Enterprise financial report.

Jia Yueting’s dream of building a car and his way home are becoming more and more difficult. It is reported that Faraday announced its financial results for the third quarter of 2021 early this morning. The net loss for the third quarter as of September 30, 2021 was US $304 million, compared with us $33 million in the same period last year. In fact, the financial report should have been released as early as last year, but it has been delayed so far due to internal reasons.

For the increase in net loss, Faraday said in the future that it was mainly due to the significant increase in operating expenses, the loss of changes in the fair value of bills payable to related parties, bills payable priced at fair value and warrant liabilities, as well as the loss arising from the processing of bills payable to related parties, bills payable and accounts payable to suppliers.

According to the financial report, Faraday’s operating expenses for the third quarter ending September 30, 2021 will be $186 million, while the operating expenses for the three months ending September 30, 2020 will be $18 million.

As of September 30, 2021, Faraday’s future cash and cash equivalents balance was US $666 million.

The cash balance as of March 31, 2022 was $276 million, including the planned repayment of $97 million in notes and accrued interest.

Bi Fukang, Global CEO of Faraday future, said: “the third quarter of 2021 is of great significance to Faraday future because we completed the merger with PSAC and became a listed company. At the end of the third quarter, we had sufficient capital and good balance sheet.”

He also stressed: “we are still confident to deliver FF 91 in the third quarter of 2022.”

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