Faraday Future may have experienced numerous delays over the years, but the company did accomplish a notable milestone in 2023. As per the company’s Form 10-K, Faraday Future was able to start vehicle deliveries last year. The company even recorded auto sales revenue of $784,000.
The electric vehicle maker noted that its automotive sales revenue includes earnings from the delivery of new vehicles, as well as services including home charger, charger installation, 24/7 roadside assistance, OTA software updates, internet connectivity, and destination fees.
Most importantly, Faraday Future was able to sell four vehicles and lease six units of the FF 91 in 2023, with deliveries starting in the third quarter. “We began the production of our FF 91 Futurist in March 2023 and started making deliveries to customers in August 2023 and have sold four and leased six vehicles for the year ended December 31, 2023,” Faraday Future wrote.
The company also noted that it had received 303 non-binding, fully refundable pre-orders in the US and China as of December 31, 2023. Considering that these pre-orders are non-binding, however, Faraday Future noted that there is no assurance that pre-orders would be converted into binding orders or sales.
Faraday Future is still optimistic about its future. In the Form 10-K’s section on products, the company noted that plans are underway for its next-generation vehicles such as the FF 81, a premium mass-market electric car that’s designed to compete with the Tesla Model S and Model X, and the FF 71, a mass market passenger vehicle that would compete against the Tesla Model 3 and Model Y. Faraday Future also noted that it plans to produce a smart Last Mile Delivery vehicle.
Faraday Future’s 2023 Form 10-K can be viewed here.
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