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Like most startups, Faraday Future has not had a smooth ride since its founding in 2014. Nor is its future guaranteed to be full of sunshine, rainbows and profits. Faraday hasn’t started producing its flagship FF 91 yet, but probably didn’t need to build that much when it started.
Earlier this week, Faraday Future released its first-quarter financial results for 2022. In the report, Faraday noted that they only received 401 preorders for the EV as of March 31, 2022. The company has been accused of inflating preorder numbers in the past, but that’s not the case here. .
What’s most surprising is that these preorders may not even turn into actual sales. Faraday noted in its financial results that these preorders were “fully refundable” and “non-binding.” Faraday requested a $5,000 deposit for the FF 91 Futurist Alliance Edition and $1,500 for the FF 91 Futurist.
Faraday still has a ways to go before the car starts rolling off the assembly line. Production of the FF 91 will begin in the third quarter of this year. Faraday built its first production FF 91 in February, which the company will use for final engineering validation and certification. Faraday previously stated that production would begin this summer.
The FF 91 will be Faraday’s first model, and will be its flagship offering. It will pack three electric motors that propel the car to 60 miles per hour (96 kilometers per hour) in a claimed 2.39 seconds, with the powertrain pumping out 1,050 horsepower (772 kilowatts). Faraday also boasted that the car would have a range of more than 300 miles (482 kilometers).
It seems that more and more automakers are open to offering customers the option of ordering or ordering vehicles long before they start rolling off the assembly line. Ford amassed 200,000 orders for the F-150 Lightning. Preorders for the Chevrolet First Edition electric pickup filled up in just 12 minutes. However, the GM was coy about the actual number of orders. Faraday, on the other hand, only has a 401.
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