Faraday Future withdraws full-year production forecast

By Thomson Reuters May 28, 2024 | 4:21 PM

(Reuters) – Electric vehicle maker Faraday Future said on Tuesday it was withdrawing its production forecast for 2024 due to current market conditions and levels of funding.

Shares of the company fell more than 8% in extended trading.

The company also said it received a letter from the Nasdaq stock exchange indicating that its failure to timely file its quarterly report for the quarter ended March 31 would serve as additional basis for delisting the stock.

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju Samuel)