EV stocks tumbled in morning trading, with Faraday Future down nearly 10% and NIO down over 7%.
Faraday Future reached three of its seven production milestones, including installing pilot equipment in the FF pre-production build area and completing work to secure a Certificate of Occupancy, clearing the path for FF pre-production builds at the Hanford plant.
FF production of the FF 91 vehicles stays on-schedule ahead of targeted July 2022 start of production.
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