(Yicai Global) Jan. 11 -- Faraday Future has 45 days to submit its compliance plan after the Nasdaq issued another delisting warning to the new energy vehicle startup founded by Chinese serial entrepreneur Jie Yueting.

FF intends to respond to the Nasdaq, as well as make the compliance scheme as per the bourse’s requirements, the California-headquartered firm said in a statement yesterday. The company plans to host its annual shareholder meeting as soon as possible, it added.

FF received a notice from the bourse on Jan. 4 about its failure to conform to the rules because it did not host a general meeting of shareholders in a timely manner.

If the North American stock exchange accepts the compliance scheme, FF will be granted a grace period of up to 180 days. If not, common shares of the troubled car company will stop trading on the Nasdaq.

FF already received one alarming notice from the Nasdaq on Oct. 31. It pointed out that the company’s share price has been lower than USD1 for 30 consecutive trading days, failing to meet the exchange’s standards.

The firm is trying to stay afloat. In early November, the startup held a special meeting for shareholders. The firm gave a green light to a proposal about shrinking its share capital to increase its price per unit.

In December, FF said that after delays, its first model FF91 is expected to kick off production in California in late March with deliveries starting in April. The firm's website shows that sales are about to start.

FF's equity price [NASDAQ: FFIE] was 0.9 percent up in pre-market trading at 5.40 p.m. local time after closing 0.3 percent higher at USD 37 cents yesterday.

Editor: Emmi Laine, Xiao Yi