What happened
Faraday Future Intelligent Electric (FFIE +2.15%), a very up-and-down stock even by the volatile standards of the electric vehicle (EV) industry, had a good session on the stock market Tuesday. The company's share price experienced a pop of almost 8%, thanks to some good news from the factory. By contrast, investors threw the S&P 500 index into reverse at a 0.3% clip on the day.
So what
That morning, Faraday Future announced that it has wrapped up all required compliance testing prior to launching delivery of its FF 91 2.0 Futurist Alliance. This is its first product, a sleek luxury EV with a dizzyingly high base sticker price of $309,000.
The company said it would begin the actual delivery of the vehicles to customers who preordered them in the very near future, specifically the second week of this month. It did not get more specific, but did say it would hold a small "delivery ceremony" to commemorate this.
The announcement was very much welcomed by investors, who have been understandably eager for the carmaker to roll out the model. It has struggled to raise capital in order to fund production runs.
NASDAQ: FFIE
Key Data Points
Now what
While this is indisputably welcome news for Faraday Future's investors -- not to mention the customers coughing up all that money for one of its first models -- the rubber has yet to meet the road. We are yet to see whether Faraday Future can be a viable business with those extremely high-priced EVs, and whether it can maintain decent enough production volume.
