Faraday Future reported Q2 2024 revenue of $0.3 million as the company continues to ramp up production of its FF 91 Futurist vehicle. Net loss narrowed to $108.7 million from $124.9 million in Q2 2023. Operating expenses decreased significantly to $29.9 million from $49.4 million, driven by reduced R&D and marketing costs.The company faces substantial liquidity challenges with only $0.8 million in unrestricted cash as of June 30, 2024. Management concluded there is substantial doubt about the company's ability to continue as a going concern, citing recurring losses and negative cash flows. The company is actively pursuing additional funding through convertible notes and other financing alternatives.Faraday Future announced its Bridge Strategy, marking a return to a two-brand approach distinguishing between premium and mass market segments. The company plans to establish partnerships with China-based OEMs to accelerate its mass-market vehicle development while continuing to focus on the FF 91 series for the premium segment. Through June 2024, the company has sold four vehicles and leased six vehicles.

Faraday Future reported Q2 2024 revenue of $0.3 million as the company continues to ramp up production of its FF 91 Futurist vehicle. Net loss narrowed to $108.7 million from $124.9 million in Q2 2023. Operating expenses decreased significantly to $29.9 million from $49.4 million, driven by reduced R&D and marketing costs.The company faces substantial liquidity challenges with only $0.8 million in unrestricted cash as of June 30, 2024. Management concluded there is substantial doubt about the company's ability to continue as a going concern, citing recurring losses and negative cash flows. The company is actively pursuing additional funding through convertible notes and other financing alternatives.Faraday Future announced its Bridge Strategy, marking a return to a two-brand approach distinguishing between premium and mass market segments. The company plans to establish partnerships with China-based OEMs to accelerate its mass-market vehicle development while continuing to focus on the FF 91 series for the premium segment. Through June 2024, the company has sold four vehicles and leased six vehicles.