Faraday Future (FFAI, Financial) has received a significant boost with a non-binding pre-order from Nature’s Miracle for 1,000 units of its upcoming vehicle, the FX Super One. This deal could potentially be valued at up to $100 million. The FX Super One is designed as an affordable multi-purpose vehicle, featuring options for all-wheel drive and two powertrain configurations: a battery electric version and an AI hybrid extended range (AIHER) model, which will be available later.
The FX Super One will be manufactured at Faraday Future's facility in Hansford, California. Nature’s Miracle intends to resell these vehicles to consumers, pending the acquisition of necessary financing for the purchase. Although pricing details for the FX Super One have not been disclosed, deliveries are anticipated to start by the end of 2025, continuing into 2026.
FFAI Key Business Developments
Release Date: May 09, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Faraday Future Intelligent Electric Inc (FFAI, Financial) announced plans for the FX Super 1, marking a pivotal moment in their mass market strategy.
- The company expanded its market reach by delivering its first FF 912.0 in New York, entering the East Coast market.
- FFAI secured $41 million in new funding, crucial for supporting FX ramp-up, AI R&D, and market expansion.
- The company reported a 21% growth in net assets compared to the prior quarter, indicating improved financial stability.
- FFAI received 1,300 non-binding paid orders for the FX Super 1, signaling strong market demand.
Negative Points
- FFAI reported a net loss from operations of $43.8 million, consistent with the previous year, indicating ongoing financial challenges.
- Operating cash outflow increased by 38% from Q1 2024, reflecting higher operational costs.
- The company relies significantly on components sourced from China, which may be impacted by recent tariff increases.
- FFAI's revenue for the quarter was only $0.3 million, highlighting limited monetization of its flagship product.
- The company's financing activities generated less than the previous quarter, indicating potential challenges in securing funds.
