Faraday Future has withdrawn its full-year production forecast for 2024, citing weak demand for electric vehicles and funding challenges. The company reported a net loss of $431.7 million for 2023, a 28% improvement from the previous year's loss of $432 million. Revenue for the year was $784,000, with costs of goods sold amounting to $43 million. Faraday Future sold only four FF91 EV models and leased six others throughout the year. The company's market capitalization stands at $49.9 million. Following the announcement, Faraday Future's shares plummeted 38%. Additionally, the company received a letter from Nasdaq regarding its Form 10-Q. Faraday Future also reported Q4 2023 earnings, with a continued cash burn leading to a cumulative negative free cash flow of $1.3 billion as of December 2023.