Faraday Future has enough money to launch FF91 later this year

Faraday Future FF91
Credit: Faraday Future

Faraday Future has struggled to bring their first electric vehicle (EV), the FF91, to market. However with the luxury crossover EV just a few months away from going into production, the CEO says they have enough money saved away to launch the EV later this year.

Despite the assertion they have enough money to launch the FF91, CEO Carsten Breitfeld said he is confident the company would be able to secure additional investments if needed.

Breitfeld made the comments in an interview with Reuters after speaking at a Deutsche Bank conference on Wednesday.

During his talk, the CEO said he expects the luxury FF91 to compete against brands and vehicles such as Rolls Royce, Volkswagen’s Bentley, and Mercedes Benz’s Maybach.

When it is delivered, the FF91 will come equipped the hardware required for autonomous driving. The company last year selected Velodyne as their LiDAR supplier.

On the software side, Breitfeld said they will eventually obtain a license from a third party, but did not explain who that third party might be.

The FF91 will be built at the company’s facility in Hanford, California. They hope to bring their mass-market EV, the FF81, to production in 2024.

Faraday Future under investigation by the SEC

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Founder and Editor-in-chief of Drive Tesla Canada | Darryn@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca