Posts Tagged: delays

Faraday Future delays the launch of its first electric vehicle yet again

Back in February, Faraday Future presented the production version of its FF91 electric SUV at its California plant and said it would start manufacturing its long-delayed vehicle in the third quarter of 2022. Now, according to Bloomberg, the embattled company has revealed in a filing for investors that it has to push back the EV's production yet again and that it needs more cash for its commercial launch. 

Apparently, the company said it has to delay FF91's deliveries to the "third or fourth quarter of 2022." Seeing as the third quarter has already started, it's now likely aiming for late Q3 — that said, the fourth quarter seems more likely, and that is if Faraday Future's plans finally go as intended. Especially since it also has to find the money needed to keep running: The company also told investors that it needs additional cash to launch the FF91 and that it's looking to raise around $ 325 million to fund its operations until December 31st, 2022. 

Faraday Future was founded in 2014 and planned to launch its first electric vehicle way back in 2018. It's had to postpone launching its EV several times over the past years as it grappled with a litany of financial issues. The company almost ran out of cash in 2017 until a company called Season Smart, which was later acquired by Chinese company Evergrande, agreed to invest $ 2 billion in it. Faraday Future quickly burned through Season Smart's $ 800 million initial cash injection, though, and it spent 2018 feuding with its main investor. 

While it reached a restructuring deal with Evergrande by the end of 2018, it wasn't able to secure enough money to bring back the employees it put on unpaid leave. The company also had to give up on its plans to build a factory in Las Vegas and put up the 900-acre plot for sale for $ 40 million. Faraday went public in a merger with a blank-check company back in 2021, but it looks like that wasn't enough to solve its financial woes.

As Bloomberg notes, the delay comes in the midst of an issue between the company and its founder, Jia Yueting, who stepped down as CEO in 2019 as part of the company' restructuring deal. Apparently, a shareholder group associated with Yueting offering Faraday Future "at least $ 100 million" to remove an unnamed director from the startup's board. The company reportedly pushed back, and the group accused it of not treating the offer "with the gravity, urgency and fairness it deserves" considering Faraday's financial condition. 

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T-Mobile delays shutdown of Sprint 3G CDMA network

Folks using Sprint’s legacy 3G CDMA network have just won a slight reprieve as T-Mobile pushes back the date for sunsetting the network by another two months.
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Virgin Galactic delays the start of its paid spaceflights to the end of 2022

Virgin Galactic has suffered yet another setback. On Thursday, the company told CNBC it has delayed the start of its commercial space tourism service to the fourth quarter of 2022. It had previously hoped to begin offering paid spaceflights sometime in the third quarter of next year.

With the delay, the company will begin refurbishing both its carrier airplane and spacecraft this month. Virgin Galactic says it expects the entire process should take between eight to 10 months. As a result of the move, Unity 23, the company’s next flight, won’t take off until mid-2022 at the earliest.

“The re-sequencing of our enhancement period and the Unity 23 flight underscores our safety-first procedures, provides the most efficient path to commercial service, and is the right approach for our business and our customers,” Virgin Galactic CEO Michael Colglazier said in a statement.

The delay is not connected to the recent investigation the FAA conducted into Unity 22, the flight that took Virgin Galactic founder Richard Branson to the edge of space. The federal agency cleared the company for future flights after completing the investigation. 

Engadget is a web magazine with obsessive daily coverage of everything new in gadgets and consumer electronics

IndyCar delays hybrid racers to 2023

You’ll have to wait a while longer before IndyCar embraces eco-friendly racing. The AP reports that IndyCar has delayed the adoption of hybrid engines by roughly a year, to 2023, due to the COVID-19 pandemic. The electric-assisted 2.4L twin-turbo V6…
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Sony indefinitely delays ‘The Last of Us Part II’

Naughty Dog has just about finished work on The Last Of Us Part II. It's taking care of the last few bugs and then the long-awaited sequel should be all set. However, Sony has delayed the game for a second time. It's pushing back the release…
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These Nokia phones are getting an Android 10 update soon, despite coronavirus delays

Nokia has tried to be as transparent as possible about software updates in their lineup of phones, and for the most part, they’ve succeeded. We’ve been well aware of what Nokia devices are getting which updates, and HMD Global has rolled things out on time almost every time. The latest refresh update from both companies […]

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Motorola delays its foldable Razr at the 11th hour – Don’t believe the company’s BS

Let me start by saying a couple of things. First, this is my opinion as an experienced tech writer, not hard news. And second, I’m a huge fan of Motorola’s new foldable Razr. Aesthetically, it’s the near-perfect foldable smartphone. Well, for 2019. Nostalgic, sleek, no crease and a solid spec to realistic thermal performance compromise. […]

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Google delays Pixel 4 security patch roll-out until next to pack in more handset specific fixes

“O, December update, wherefore art thou December update?” If you are the owner of a Pixel 4 or 4 XL, you might be wondering why the December update hasn’t begun rolling out to your brand new phone. There’s no need to worry, the Pixel 4 isn’t an app so Google hasn’t killed it off, instead, […]

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JBL delays Link Bar release yet again

If you pre-ordered JBL's $ 399 Link Bar last August, you could end up waiting almost a year for it to arrive — or possibly longer. Pre-order customers were originally told the all-in-one soundbar, TV box and Google Assistant speaker would ship in Oct…
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Audi delays E-Tron SUV by a month over software bugs

Audi's E-Tron SUV has seemingly been in development for ages, but you're going to have to wait longer still to see it on the road. The automaker has delayed the electric SUV's arrival by four weeks due a "software development issue," a spokesman tol…
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Apple Music delays its ‘Carpool Karaoke’ series

Apple had indicated that its first video series for Apple Music would arrive in April, but we're almost into May and Carpool Karaoke is nowhere to be found. According to Reuters, a March premiere party was postponed 'days' before it was going to take…
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