Cash-strapped electric vehicle startup Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) unveiled a “master plan” on Monday aimed at achieving financial stability without an overreliance on external funding.
What Happened: This plan primarily focuses on cost reduction by cutting non-essential expenses not linked to the production of the FF 91 2.0 Futurist Alliance SUV.
The company also intends to lower production costs by in-house sourcing capital-intensive systems, eliminating commitments to new convertible notes with structures similar to existing convertible notes.
Faraday Future expects that implementing this “master plan” will lead to positive cash flow and profitability. More comprehensive details will be disclosed during the ...