Faraday Future says it is ready to commence production of the long-awaited FF 91, as long as it can raise the required funds to complete construction of its factory in Hanford, California.
While speaking with Autocar at Monterey Car Week where a pre-production prototype of the FF 91 was shown to attendees, Faraday Future confirmed that it had recently received $52 million from unnamed investors and that it has a further $600 million lined up should certain production targets be met.
“Hanford obviously is the big priority right now,” a company spokesman said. “It’s building out that factory, getting it completed this year and starting the production of our production units for our customers. That’s really the big priority this company has right now, and obviously we need to raise additional capital to get there.”
Read More: Faraday Future Unveils Production-Intent FF 91, Bills It As The “First True Luxury EV”
Faraday Future adds that it was able to accelerate the development and build-out of its factory after it went public last summer on the Nasdaq. Robots continue to be installed and pre-production cars continue to be built at the site that was once a Pirelli tire factory.
While the electric car start-up appears optimistic about the coming months, it was forced to reveal in late May that it had secured just 401 preorders for the FF 91, all of which were fully refundable and non-binding. While it hasn’t publicized up-to-date figures since then, it did acknowledge that its recent claim of having 14,000 reservations was not true and that it had instead simply received 14,000 unpaid “indications of interest.”
The company has yet to confirm full pricing details for the FF 91 in the U.S. but we know it rides on the Variable Platform Architecture and is slated to feature a 130 kWh battery pack that provides 378 miles (608 km) of range on a charge. We also know that the electric crossover features a tri-motor all-wheel drive system with a combined 1,050 hp.
