Market News

FFIE in Focus on Business Update; Board Rejig

Shares of EV maker Faraday Future Intelligent Electric (NASDAQ:FFIE) continue to see elevated investor interest.

The company has undertaken a Board rejig and appointed the CEO of FF Global, Xuefeng Chen, and Ms. Ke Sun to its Board. The new appointments come after Dr. Carsten Breitfeld and Mr. Edwin Goh resigned as members of the company’s Board.

Moreover, FFIE also announced key business updates. It anticipates beginning the production of FF91 Futurist at the end of March next year. Deliveries are expected before the end of April.

In 2021, FFIE had identified seven manufacturing milestones for the FF91 Futurist. It has now completed the construction and installation of equipment in the vehicle assembly areas, which was the sixth milestone.

Shares of the company have plummeted about 94% over the past year while short interest in the stock remains elevated at nearly 22% at present.  

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