Faraday Future's operating loss for the full year of 2024 is $149.7 million, a decrease of approximately 47.7% year-on-year.
IT Home reported on March 28 that Faraday Future announced its financial performance for the fourth quarter and the whole year of 2024 today.Faraday Future's operating loss for Q4 2024 was $30.3 million, a decrease of 55.3% compared to a loss of $67.8 million in Q4 2023.Operating cash expenditures: $70.2 million, a decrease of 75% compared to $278.2 million in 2023. Financing cash inflow of $25 million exceeded the total operating cash expenditures for the same period.
The operating loss for the entire year of 2024 is $149.7 million, a year-on-year decrease of approximately 47.7% compared to 2023 ($286.1 million).Operating cash expenditures were $70.2 million, a significant decrease of 75% compared to 2023 ($278.2 million).
Faraday Future's total financing amount for 2024 is 76.7 million USD."exceeding the total of the company's operating and investment cash outflows for the year."
Faraday Future stated that in 2024, the company will vigorously implement cost optimization measures in its overall operations, leading to a significant reduction in personnel-related costs, professional service fees, as well as general expenses such as rent and insurance. While maintaining operational efficiency, the company achieved a year-on-year decrease of approximately 75% in general and administrative expenses for the entire year.
At the earnings communication conference, FF also stated that the first FX vehicle is expected to roll off the production line by the end of 2025. The company plans to hold the first product launch event for the FX Super One in June 2025 and will start accepting paid pre-orders in the second quarter. Additionally, the FF 91 2.0 Futurist will continue to be delivered, catering to top-tier users and co-creation officials with the FF 91 2.0 model.
According to IT Home, FF announced its overall plan for 2025 during the financial performance meeting, stating that it will initiate the project for the second model of the FX series. The research and development work is planned to start in the second quarter of 2025. This model will compete with industry-leading products, such as the Toyota RAV4, and aims to match the leaders in various aspects of the segment.
In addition, FF will continue to advance the research and development of FF AI technology: covering AI-enabled smart cockpit, AI mixed augmentation system, autonomous driving, and compliance-related development for the U.S. market, with plans to launch in the second quarter of 2025. The company's first-generation AI Agent-enabled smart cockpit system is expected to be fully deployed in the FF 91 2.0 by the end of 2025 and will be prepared for integration into the FX model.
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