On December 14, Faraday Future (FF) announced that it was launching infrastructure in the rest of its production area at its Hanford, California plant, including body shops, powertrain shops, warehouses and final assembly shops.
The in-house infrastructure works in the production halls are progressing well, and critical mechanical systems, including electrical and plumbing systems, are currently being installed in the factories. Subsequently, FF will soon begin to install manufacturing and final assembly related equipment.
Matt Tall, FF's vice president of manufacturing, said, "The successful completion of our third manufacturing milestone is an important feat for the company to enable the production of our next generation of E-Smart Technology's luxury high-performance electric vehicle product, the FF 91, to proceed as planned."
It is understood that since its listing in July, FF has completed three of the seven production and manufacturing milestones, including the completion of the installation of equipment to support the production and manufacture of pre-production vehicles, and obtained the final production and use qualification of the factory, paving the way for the mass production of pre-production vehicles.
"FF's resources are already in place, we have also developed a detailed plan, FF's resources have been in place, we have also developed a detailed plan to build the Hanford factory into a customized assembly, high quality, and to create luxury products as the goal of the factory." FF Global CEO Bi Fukang said, "The benefit of building a factory from scratch is that we can implement innovation throughout the production process, building more confidence for FF to deliver the FF 91 Futurist on time next year. ”
Previously, at the same time that FF held an online meeting, it announced the company's operating conditions, the construction of Faraday's future FF factory and the delivery of FF91 mass production.
FF expects an operating loss of approximately $143 million in Q3, primarily due to increased costs of Manufacturing Facilities in Hanford associated with full commercial mass production at the Hanford plant; and a net loss of approximately $280 million in Q3, compared to a net loss of $33 million in the year-ago quarter.
According to statistics, since the establishment of FF, it is expected to accumulate losses of about 2.8 billion US dollars (about 17.8 billion yuan), and it may continue to lose money in the future. However, officials also said that the Current Hanford plant is progressing smoothly, and there is sufficient cash support to complete the production of FF 91 by July 2022, and the target remains unchanged.