Troubled EV Maker Faraday Future Reveals Blueprint To Tackle Cash Crisis: 'Master Plan' Coming On Investor Day
Troubled EV Maker Faraday Future Reveals Blueprint To Tackle Cash Crisis: 'Master Plan' Coming On Investor Day
Cash-strapped electric vehicle startup Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) unveiled a "master plan" on Monday aimed at achieving financial stability without an overreliance on external funding.
资金短缺的电动汽车初创公司 法拉第未来智能电气公司 纳斯达克股票代码：FFIE）周一公布了一项 “总体规划”，旨在在不过度依赖外部资金的情况下实现金融稳定。
What Happened: This plan primarily focuses on cost reduction by cutting non-essential expenses not linked to the production of the FF 91 2.0 Futurist Alliance SUV.
发生了什么： 该计划主要侧重于通过削减与之无关的非必要支出来降低成本的制作 FF 91 2.0 未来主义者联盟 越野车。
The company also intends to lower production costs by in-house sourcing capital-intensive systems, eliminating commitments to new convertible notes with structures similar to existing convertible notes.
该公司还打算通过内部采购资本密集型系统来降低生产成本，取消对结构与现有可转换票据相似的新可转换票据的承诺。
Faraday Future expects that implementing this "master plan" will lead to positive cash flow and profitability. More comprehensive details will be disclosed during the company's upcoming Investor Day.
法拉第未来预计，实施这个 “总体规划” 将带来正现金流和盈利能力。更全面的细节将在公司即将到来的投资者日期间披露。
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Why It Matters: In the second quarter, Faraday reported no revenue but accrued a net loss of $124.9 million. This marks an improvement compared to the $141.7 million loss reported in the same period the previous year. As of June 30, 2023, the company's cash reserves amounted to $19.4 million, including $1.5 million in restricted cash.
为什么重要： 在第二季度，法拉第没有报告任何收入，但净亏损为1.249亿美元。与去年同期公布的1.417亿美元亏损相比，这标志着有所改善。截至2023年6月30日，该公司的现金储备为1,940万美元，其中包括150万美元的限制性现金。
In an open letter released on Sunday, Faraday's Global CEO, Matthias Aydt, and founder, YT Jia, said they felt a "profound sense of pain" over the declining value of the company's shares. They outlined various measures to counter this issue, which included exploring opportunities with potential institutional and strategic investors to secure additional capital.
在周日发布的一封公开信中，法拉第全球首席执行官 Matthias Aydt，以及创始人， YT Jia，他们表示，他们对公司股票价值的下跌感到 “深深的痛苦感”。他们概述了应对这一问题的各种措施，包括与潜在的机构和战略投资者探讨获得额外资本的机会。
The letter, released just a day before the "master plan" announcement, emphasized the company's reliance on available funding for its development phase.
这封信是在宣布总体规划的前一天发布的，强调了该公司在开发阶段对可用资金的依赖。
Faraday Future began trading on the NASDAQ in July 2021 following a Special Purpose Acquisition Company merger. Its stock has plummeted by 95.02% year-to-date, with a current market capitalization shrinking of approximately $28 million.
特殊目的收购公司合并后，法拉第期货于2021年7月开始在纳斯达克上市。今年迄今为止，其股票已经暴跌了95.02％，目前的市值萎缩了约2,800万美元。
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Photo courtesy: Faraday Future
照片提供：法拉第未来