Faraday Future, pre-orders for the FF91 are at 401 units.

Faraday Future announced its financial results for the first quarter of 2022 (listed from mid-2021) this week, and in its materials it was revealed that there were only 401 pre-orders for the FF91 at the end of the quarter.

Faraday Future previously mentioned as many as 14,000 pre-orders, which did not require a refundable deposit like pre-orders ($1,500 for the FF91 Futurist and $5,000 for the FF91 Futurist Alliance Edition dollars).

Given that the FF91 was first unveiled five years ago, the number of pre-orders is not exactly high, but it is not entirely unexpected given recent doubts about whether production will even take place and rumors that the FF91 will start at $180,000.

Other tidbits revealed in the document include reported assets of $706 million, including $276 million in cash. The net loss for the quarter was $153 million, up from $76 million in the same period last year. On a brighter note, total debt was relatively low at $271 million, down from $340 million at the start of the quarter.

Faraday Future is confident that production of the FF91 will begin in the third quarter of 2022 at its plant in Hanford, California; a second high-volume model called the FF81 will be built under contract by Myoung Shin of South Korea beginning in 2024.

There are still plenty of headwinds. According to financial documents, Faraday Future's accumulated losses total $3 billion, and the company expects to continue to incur "significant" losses in the near term as it piles on more expenses in production ramp-up and vehicle development.