Faraday Future confirms no exposure to Silicon Valley Bank shutdown

Faraday Future states it is "aware of the current news and reports surrounding Silicon Valley Bank’s liquidity concerns. The Company does not have any cash or cash equivalents on deposit at Silicon Valley Bank and does not have any other direct relationship with Silicon Valley Bank. Furthermore, the Company has discussed issues surrounding Silicon Valley Bank with its committed funding partners and they do not expect such issues to impact the Company’s committed funding." The company also confirms that it has "received its dealer license from the State of California for its U.S. operations and expects to go to market using a unique direct sales model as previously disclosed on May 18, 2022."