Production will begin in the third quarter this year.
Faraday Future, like most startups, hasn’t had the easiest journey since its 2014 foundation. Faraday Future’s future isn’t certain to be filled with sunshine, rainbows and profits. Faraday is yet to start producing its flagship FF 91 but may not be required to build as many once it does.
Faraday Future has released its first quarter financial results for 2022 earlier this week. Faraday stated that the company had only received 401 preorders for EVs as of March 31, 2022. Although Faraday has been accused in the past of inflating preorders, this is not the case here.
The worst part is that preorders may not turn into sales. Faraday states in its financial results that these preorders can be “fully refundable and non-binding.” Faraday asks for a $5,000 deposit on the FF 91 Futurist Alliance Edition, and $1,500 on the FF 91 Futurist.
Faraday has some way to go before cars start rolling off the assembly lines. Production of FF 91 is expected to begin in the third quarter. Faraday created its first production-intent FF 91 prototype in February. This will be used by the company for final engineering validations and certification. Faraday previously stated that production would start this summer.
Faraday’s first vehicle, the FF 91, will be their flagship model. The car will be powered by three electric motors, which can propel it to 60 mph (96 km/h) in 2.39 seconds. The powertrain produces 1,050 horsepower (772 megawatts). Faraday claimed that the car would travel more than 300 miles (482 km).
A growing number of automakers offer customers the ability to pre-order or reserve vehicles before they roll off the production line. Ford received 200,000 reservations to the F-150 Lightning. The first edition of Chevrolet’s electric pickup was sold out in 12 minutes. However, GM did not disclose the exact number of reservations. Faraday has only 401.