Shulou(Shulou.com)11/24 Report--

CTOnews.com August 16 news, Faraday Future today released the second quarter of 2022 results. According to the financial report, Faraday posted a net loss of $142 million (about 963 million yuan) in the next second quarter, an increase of 168 per cent year-on-year.

Faraday's future operating loss was $137 million in the second quarter ended June 30, compared with an operating loss of $28 million in the same period a year earlier. Operating losses increased year-on-year, mainly due to an increase in engineering, design and testing services aimed at driving the development of FF 91 electric vehicles. In addition, the number of employees and employee-related expenses have also increased significantly.

In the second quarter, Faraday's future net loss increased to about $142 million, compared with a net loss of $53 million a year earlier. The net loss worsened year-on-year, mainly due to increased operating losses.

As of June 30, 2022, Faraday's future total assets are approximately $588 million, including $121 million in cash. The cash decrease is mainly due to future payments to suppliers and employees by Faraday who continues to invest in its FF ieFactory California production preparation and research and development of FF 91.

As of August 9, 2022, Faraday's future cash balance was $52.2 million and restricted cash was $1.6 million. As of June 30, 2022, Faraday's total future liabilities were approximately $287 million, compared with approximately $340 million as of December 31, 2021.

As of June 30, 2022, Faraday announced a pre-order of 399 cars in the future (401 as of the previous quarter, a decrease of 2). In the future, Faraday expects to deliver cars to customers at the end of the third or fourth quarter of this year.

CTOnews.com had previously reported that Faraday Future announced a new financing agreement yesterday. The new guaranteed instrument provides $52 million (about 351 million yuan) in committed funds, with a potential total of up to $600 million (about 4.05 billion yuan).

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