On September 4th Eastern Time, the stock price of Faraday Future (hereinafter referred to as "FF") surged, rising more than 80% at one point. As of the close, FF's stock price rose 52.77% to $5.24, with a total market value of $64.87 million.
On September 3rd, US time, the founder of FF announced on social media that FF will launch a "People's AI Car People's Choice Co Creation" questionnaire survey activity, inviting global technical talents to participate in the development of new sub brands. FF plans to adopt an open innovation model, integrating global creative and technological resources to promote the growth of new brands.
The First Financial Journalist learned today that FF has launched a survey questionnaire titled "Analysis of Pain Points in the US AI EV Industry". The questionnaire shows that as the pioneer of the new energy vehicle industry, the United States is currently experiencing uneven development and a consumption gap in the industry. In the first half of 2024, the total sales of new energy vehicles in the United States were only one fourth of those in China; The market share of new energy vehicles is only one-third of that in China. In July of this year, the penetration rate of new energy vehicles in China exceeded 50%, especially with extended range vehicles maintaining a 100% annual growth rate in China and expected to exceed one million vehicles by 2024. The United States' extended range new energy products can be almost ignored. It can be said that the performance of the new energy vehicle market in the United States lags far behind that of China.
In this context, FF claims that its "Global Automotive Industry Bridge Strategy" and its second brand are solutions to help the United States change the pain points of the AI EV industry. FF will bring low-cost mechanical components and supply chains from China to the United States, and is conducting in-depth negotiations with multiple potential partners on the selection of the first second brand model. Currently, multiple alternative models have been selected.
It is worth noting that the above questionnaire released by FF focuses on questioning the future market space for FF's second brand to release extended range cars in the United States.
Although FF has made many recent actions, its business situation is still not ideal. Since its establishment ten years ago, FF has sold only 13 vehicles, and only 2 vehicles were delivered in the first half of this year. According to the financial report released by FF, in the first half of 2024, FF achieved a cumulative revenue of $295000; Under the significant reduction in research and development and sales costs, the net loss decreased from 270 million US dollars in the same period last year to 157 million US dollars; As of June 30th, FF's total assets on paper were approximately $458 million, total liabilities were approximately $309 million, and net assets were approximately $149 million.
On September 3rd, the day before the stock price surge on September 4th Eastern Time, FF's stock price had dropped by 31.81%.