Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE), a California-based global electric mobility company, has achieved a significant milestone as its flagship electric vehicle, the FF 91, successfully passed the Federal Motor Vehicle Safety Standard (FMVSS) crash test requirements. This achievement has led to a positive response in the market, with Faraday Future’s stock increasing by over 6%.
The FMVSS crash tests are known for their high severity, examining the vehicle’s ability to withstand front, side, and rear impacts. Faraday Future (FF) has impressively cleared all of these tests, demonstrating the safety and durability of their vehicle.
The FF 91 boasts a unique “moat body structure” and “moat pack structure,” specifically designed to provide excellent protection for both the occupants and the high-voltage battery. This innovative side impact crumple zone ensures optimal occupant safety while safeguarding the vital components of the vehicle. Furthermore, this design allows for optimal packaging space, contributing to the overall vehicle’s aesthetics and functionality.
Faraday Future is making significant progress across its operations, including manufacturing and sales planning. On April 14th, the company celebrated the completion of the first production build of the FF 91 at its manufacturing facility in Hanford, California. Shortly after, the official start of production for the FF 91 was announced.
In line with its co-creation and co-sharing vision, Faraday Future has outlined a three-phase delivery plan to enhance the customer experience. The initial phase, set to launch at the end of May, will grant industry expert Futurist Product Officers (“FPOs”) an exclusive opportunity to have the first look at the FF 91. During this phase, FPOs will be able to reserve the vehicle and pay in full. Subsequently, in the second phase, these industry experts will take possession of their reserved FF 91 vehicles.
On Friday, FFIE stock jumped 6.38% to $0.22, with a trading volume of 52,938,931 (52.93M). The market capitalization of FFIE stands at $235.90M.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
