Shares of EV maker Faraday Future Intelligent Electric (NASDAQ:FFIE) are trending upward today after the company started the production of the FF 91 Futurist Alliance at its factory in California.
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This is FFIe’s flagship vehicle and is anticipated to be available in the U.S. as well as China. With this model, the company aims to disrupt the ultra-luxury automotive segment. It has divided the delivery process into three stages in order to mitigate any impact from production capacity lagging demand.
The FF 91 Futurist boasts of 1,050 horsepower, a 381-mile range, and acceleration from 0 to 60 mph in 2.27 seconds. Next, the company’s annual shareholder meeting on April 14 will be a key event to keep an eye on.
FFIE stock has already gained 33% so far this year. Nonetheless, FFIE shares still remain over 90% lower over the past 52 weeks.
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