\nFaraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (\u201cFaraday Future\u201d, \u201cFF\u201d or the \u201cCompany\u201d), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Co-CEO of FF.\n<\/p>\n
\u201cPromises made, promises kept. Welcome to our third FF Co-CEO Investor Weekly Update.<\/i><\/p>\n
This week, we welcomed a number of important clients\u2014from a Californian limousine and livery association to several groups of our core suppliers, including Tier One suppliers from China. A very busy and very fulfilling week, to say the least.<\/i><\/p>\n
Let me share our progress on this week\u2019s key goals:<\/i><\/p>\n
Start with S1 User Ecosystem:<\/i><\/p>\n
1, We\u2019ve announced that FF\u2019s Annual Stockholders\u2019 Day will be held on May 31. <\/i>This will be a valuable opportunity to meet our stockholders face-to-face, listen to their suggestions, and engage in open dialogue. That evening, I\u2019ll join a dinner with a group of long-time supporters and members of our executive team.<\/i><\/p>\n
2, On Friday, we welcomed the Greater California Livery Association (GCLA) to our headquarters for an in-depth FF and FX drive-and-ride experience. More importantly, we held focused B2B procurement discussions, and the feedback on our potential FX products was overwhelmingly positive. The FX Super One, in particular, left a strong impression. As a First Class AI-MPV unlike anything currently available in the U.S. market, it delivered a truly disruptive experience for GCLA board members and top-tier luxury transportation providers across California.<\/i><\/p>\n
If we can collaborate with GCLA in the future, it could help us expand into a much broader luxury livery market across the U.S., which means larger-scale B2B sales potential for both FF and FX.<\/i><\/p>\n
3, Next week, we plan to launch a new module under our B2B and Co-Creation Ecosystem Online Direct Sales, which is the innovative B2B pre-order acquisition from livestream e-commerce MCN agencies. We\u2019re optimistic about the early momentum and look forward to sharing updates hopefully next week.<\/i><\/p>\n
Going to S5 Finance and Capital Markets:<\/i><\/p>\n
Many stockholders have been closely following our management share purchase plan. I want to let you know that we\u2019ve been actively and steadily pushing this forward this week. We\u2019ve already selected a U.S.-based brokerage firm that specializes in executive stock purchase programs. Some members of the management team, including myself, have submitted the necessary paperwork expressing our intent to establish a 10b5-1 purchase plan when permitted.<\/i><\/p>\n
As a U.S.-listed company, we must strictly follow compliance procedures when management purchases shares. This includes making purchases only during open trading windows, setting up 10b5-1 plans in advance, and ensuring there is no material non-public information (MNPI) involved. While these requirements may seem tedious, they are designed to ensure equality of information, protecting the rights of all investors.<\/i><\/p>\n
I\u2019ll keep you all updated as soon as there\u2019s any progress.<\/i><\/p>\n
Let\u2019s look at Government Relations under S7 Capability and System Build-Up,<\/i><\/p>\n
This Saturday, FX CEO Max Ma was invited to attend the \u201cAmerica\u2019s Revival\u201d event held at President Trump\u2019s private residence, Mar-a-Lago. The FF 91 made its debut at Mar-a-Lago and wowed the entire audience. Max joined senior leaders from both the U.S. political and business communities for a private luncheon, where he shared in-depth insights on the strategic value of FF, FX, and the Global Automotive Bridge Strategy. Key policy topics such as tariffs and subsidy programs were also discussed. This continues the dialogue we began a few weeks ago in the meeting with Hailey Borden, Special Assistant to the President, and marks our latest progress on the government relations and strategic cooperation. Max will share more details on this.<\/i><\/p>\n
Now, let\u2019s talk about the problems and what we\u2019ve learned.<\/i><\/p>\n
One reason behind our previous delays in financial reporting\u2014and why executive share purchases couldn\u2019t move forward as planned\u2014lies in weaknesses in our financial system, especially in accounting, reporting, and internal controls.<\/i><\/p>\n
That\u2019s why, after I was appointed as the Co-CEO, one of my top priorities has been to fully resolve these issues. This week, we officially launched a company-wide task force focused on tackling our material weaknesses.<\/i><\/p>\n
We\u2019re also expanding our finance team. In addition to the senior advisors who joined FF over the past two weeks, we\u2019re planning to bring in external consultants to help streamline processes and address legacy issues more efficiently.<\/i><\/p>\n
Now, here\u2019s a look at what\u2019s coming up next week.<\/i><\/p>\n
Project execution across FX\u2014including Super One\u2014is moving full speed ahead. And I want to give you a heads-up on two key events:<\/i><\/p>\n
On S1 User Ecosystem<\/i><\/p>\n
I\u2019ve been invited to speak (virtually) next week at the BEYOND Expo 2025 B-GLOBAL Summit in Macau. My video keynote will be on the morning of the 22nd (Beijing time), where I\u2019ll share insights on the automotive industry\u2019s transformation, the shift from traditional industries to AI, the bridge from Web2 to Web3, and the evolution of ecosystem paradigms. FX CEO Max will be there as well, joining a more focused dialogue on key topics\u2014stay tuned.<\/i><\/p>\n
Turning to S6 Middle East,<\/i><\/p>\n
An event has been scheduled for our Middle East facility next week. We will be sharing update on our progress.<\/i><\/p>\n
The team is firing on all cylinders, the pace has picked up, and more and more people are starting to recognize the unique value of what we\u2019ve built\u2014a rare breed in today\u2019s EV landscape. See you all next week.\u201d<\/i><\/p>\n
ABOUT FARADAY FUTURE<\/b><\/p>\n
\nFaraday Future is the pioneer of the Ultimate AI Tech Luxury ultra spire market in the intelligent EV era, and the disruptor of the traditional ultra-luxury car civilization epitomized by Ferrari and Maybach. FF is not just an EV Company, but also a software-driven intelligent internet Company. Ultimately FF aims to become a User Company by offering a shared intelligent mobility ecosystem. FF remains dedicated to advancing electric vehicle technology to meet the evolving needs and preferences of users worldwide, driven by the pursuit of intelligent and AI-driven mobility.\n<\/p>\n
FORWARD LOOKING STATEMENTS<\/b><\/p>\n
\nThis press release includes \u201cforward looking statements\u201d within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \u201cplan to,\u201d \u201ccan,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cfuture,\u201d \u201cpotential,\u201d and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding production capacity expansion, the FX brand, the Super One MPV, future FX models, future FX reservations, expansion into new states and markets, and production and sales goals, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company\u2019s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.\n<\/p>\n
\nImportant factors, among others, that may affect actual results or outcomes include, among others: the Company\u2019s ability to expand its production facility, which will be time-consuming and costly; market demand for MPVs and MPV rentals; the Company\u2019s ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company\u2019s ability to design and develop EREV technology; the Company\u2019s ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company’s ability to secure necessary agreements to license third-party range extender technology and\/or license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company’s ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; and the Company’s ability to secure necessary permits at its Hanford, CA production facility; the potential impact of tariff policy; the Company\u2019s ability to continue as a going concern and improve its liquidity and financial position; the Company\u2019s ability to pay its outstanding obligations; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company\u2019s limited operating history and the significant barriers to growth it faces; the Company\u2019s history of losses and expectation of continued losses; the success of the Company\u2019s payroll expense reduction plan; the Company\u2019s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company\u2019s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company\u2019s vehicles; the Company\u2019s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company\u2019s vehicles; current and potential litigation involving the Company; the Company\u2019s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company\u2019s indebtedness; the Company\u2019s ability to use its \u201cat-the-market\u201d program; insurance coverage; general economic and market conditions impacting demand for the Company\u2019s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company\u2019s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company\u2019s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the \u201cRisk Factors\u201d section of the Company\u2019s Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20250518820685\/en\/<\/a><\/span><\/p>\n \nInvestors (English): ir@faradayfuture.com KEYWORDS:<\/b> United States North America California<\/p>\n INDUSTRY KEYWORDS:<\/b> Software Vehicle Technology EV\/Electric Vehicles Internet Luxury Alternative Vehicles\/Fuels Technology Automotive Artificial Intelligence Retail Automotive Manufacturing Manufacturing<\/p>\n MEDIA:<\/b><\/p>\n Faraday Future Founder and Co-CEO, YT Jia, Shares Weekly Investor Update LOS ANGELES–(BUSINESS WIRE)– Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (\u201cFaraday Future\u201d, \u201cFF\u201d or the \u201cCompany\u201d), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Co-CEO of FF. \u201cPromises made, promises kept. Welcome to our third FF Co-CEO Investor Weekly Update. This week, we welcomed a number of important clients\u2014from a Californian limousine and livery association to several groups of our core suppliers, including Tier One suppliers from China. A very busy and very fulfilling week, to say the least. Let me share our progress on this week\u2019s key goals: Start with S1 User Ecosystem: 1, We\u2019ve announced … <\/p>\n
\n<\/a>
Investors (Chinese): cn-ir@faradayfuture.com
\n<\/a>
Media: john.schilling@ff.com<\/a><\/p>\n\n","protected":false},"excerpt":{"rendered":"