On February 26th, Faraday Future (FF) recently released a public letter from its CEO Matthias Aydt on its official Weibo account.
In the letter, Matthias Aydt shared the latest version 1.1 of FF's overall plan and announced the company's development strategy for 2024.
It's reported that FF has invested $3 billion so far, with the disclosed net assets of $261.8 million as per the third-quarter report of 2023.
The future expected annual production capacity of FF's self-operated factory in Hanford, California, is set to reach 10,000 units, with an investment of over $200 million.
Therefore, FF plans to launch the FF 9 2.0 aiFalcon in the Middle East this year, and focus on the research and development of the next-generation product, FF 92, with a specific emphasis on the application of AI technology.
It's worth noting that in 2023, FF completed the delivery of 10 FF 91 2.0 Futurist Alliance vehicles. This implies that the brand has delivered only 10 cars in 9 years, one of which belonged to Jia Yueting himself.
Meanwhile, the company is also making efforts to tighten the conversion of convertible notes and has suspended the use of ATM and ELOC. The company has reduced monthly cash outflows, cut unnecessary expenses in the new development stage, and continues to balance business investments.
