Faraday Future rose nearly 11% in extended trading after posting its financial results.
Faraday Future reported a net loss per share of $1.06. In the prior-year period, the company reported a net loss per share of 21 cents. Faraday also said it had operating expenses for the third quarter of $186 million, compared to $18 million in the year-ago period. "The increase is primarily due to an acceleration of costs to bring the Hanford manufacturing facility to full commercial production," the company said.
Faraday also said Friday it expects to launch production of its flagship FF 91 vehicle in the third quarter of this year.
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