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Faraday Future Intelligent Electric Withdraws Production Outlook
Faraday Future Intelligent Electric is withdrawing its production target guidance for the year, becoming the latest electric vehicles maker to warn about the state of the market. The L.A.-based company on Tuesday said the decision, which comes less than two months after Fisker withdrew its outlook for vehicle sales of 20,000 to 22,000 this year, has been driven by current market conditions and funding levels. Faraday Future Intelligent Electric’s news come about six months after announcing it aimed to reach phase 3 EV delivery to the general market by the end of the first quarter, and three months after it said it was “prioritizing cash flow breakeven over volume to avoid scaling production too quickly.”
The Wall Street Journal•
