For the first time in the future, Faraday admitted that the financial crisis was caused by the CES exhibition FF91

Faraday Futures (FF), the US electric car startup company, acknowledged its financial crisis for the first time in an interview with foreign media. In order to support the CES showcase at the 2017 International Consumer Electronics Show, Faraday Futures (FF) consumes a lot of money and resources. , had to suspend its factory construction projects. The project restart time has not been announced. FF started construction in the Nevada desert in April last year and was later exposed to a suspension in October due to a funding crisis.

Faraday recognizes the financial crisis for the first time in the future.

Nick Sampson, senior vice president of R&D and engineering at Faraday, said they are currently facing “challenges”. He said: "A large international exhibition like CES requires a lot of money and resources. This is what we lacked at the time. We need to maintain a smooth flow of funds in different projects. CES requires products to be in place in time, and our factory construction Can only be suspended."

According to Mr. Sampson, the company is experiencing a serious financial crisis. He also said: "The challenge of building a new company is not just design and R&D. We have been able to complete manufacturing, marketing, and advertising. The real challenge is how to make this series of work orderly. After all, Jobs’ success is not that easy."

This year's CES was held in Las Vegas, USA, and Faraday's first production car in the future became a highlight of the show. Also attending the show was John Las, the mayor of North Las Vegas. Although Mayor John Lee insisted that even if the FF is suspended, the public interest will not be affected. However, the $1 billion worth of factories required about $320 million to provide funding, which caused a strong controversy.

Another problem faced by FF and its ongoing plant construction is that some suppliers have begun to take legal measures. For example, Fuzhuo Automotive Interior is suing the company for breach of contract, with a claim amount of more than $10 million.

According to the US online media Buzzfeed news, FF debts exceeded $300 million. But Sampson said, “This is normal for an emerging technology company. In the past two years, we have never had an experience like today. But it is always difficult to keep a consistent cycle of development and capital, many companies. There have been such experiences. For example, Apple, Jobs is also very difficult to develop in the early stage. This is actually a difficult problem that we all must face."

During the CES show, the company mentioned many landmark inventions, including lights and the Internet. The price of Faraday's first production car in the future is expected to be between $150,000 and $200,000, much higher than the Tesla Model X.

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