Faraday Future Ships Latest Production-Intent FF 91 Futurist to China for Final Evaluation and Testing Purposes
Los Angeles, February 13, 2023–(BUSINESS WIRE)–Faraday Future Intelligent Electric, Inc. (NASDAQ: FFIE), (“FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, announced today that it has shipped one of the latest production intent FF 91 Futurist test vehicles to China for market testing and validation, including charging and infrastructure compatibility along with other hardware and software applications. The vehicle was completed at the FF manufacturing facility in Hanford, California, “FF ieFactory California”, and has already arrived in Shanghai. This delivery confirms the planned advancement of the company’s US-China dual-home market strategy, which includes manufacturing and sales in both the US and China, the world’s two largest electric vehicle markets.
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Faraday Future FF 91 Futurist (Photo: Business Wire)
A video link for the occasion can be seen here: https://youtu.be/eI3lZ_IpLeg
Final preparations and vehicle testing for FF’s production vehicles built for the Chinese market are underway. The company expects to begin production of a salable FF 91 Futurist in late March 2023 with deliveries in April, assuming investor funds are received at the company’s expected timeline.
“I look forward to seeing the implementation of our US-China dual-home market strategy take shape as we ship one of our latest vehicles to China for testing,” said Chen Xuefeng (XF), Global CEO of FF . “Stay tuned in as we prepare the Ultimate Intelligent TechLuxury FF 91 Futurist for the two largest global EV markets.”
FF completes its testing and validation of the FF 91 Futurist as part of the Product and Technology Generation 2.0 (PT Gen 2.0) program. The generation upgrade from PT Gen 1.0 to PT Gen 2.0 consists of significant upgrades of systems and core components both in the vehicle and in the IAI area – the Advanced Core, which stands for Internet, Autonomous Driving and Intelligence. PT Gen 2.0 was achieved through upgrades of 26 major systems and components, with 13 major upgrades in powertrain, battery, charging, chassis, interior of EV areas, and 13 major upgrades in computing, sensing, communications, user interaction, and performance of the FF 91 Futurist.
With the recently announced round of funding and the help of our global supply chain partners, FF is now approaching its seventh milestone, Start of Production (SOP). The Company recently announced the completion of Milestone 6, the completion of construction and equipment installation at the vehicle assembly areas of FF ieFactory California. This was the sixth of seven milestones set by FF in 2021 to mark its manufacturing achievements, leading to the start of production of the FF 91 Futurist.
As the only next-generation Ultimate Intelligent TechLuxury EV product, the FF 91 Futurist competes with Ferrari, Maybach, Rolls Royce and Bentley and offers a unique and intelligent EV experience with extreme technology and an ultimate user experience. The FF 91 Futurist features an industry-leading 1,050 horsepower, an EPA-certified range of 381 miles, 0-60 mph in 2.27 seconds, a unique rear intelligent internet system and a revolutionary user experience designed to deliver a mobile, connected and intelligent Vehicle to create , and luxurious third internet living space.
Users can pre-order an FF 91 Futurist through the FF Intelligent app or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn /pre-order/
Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture. online, (Chinese): http://appdownload.ff.com
ABOUT FARADAY FUTURE
Faraday Future is a class-defining luxury electric vehicle company. The company has innovated numerous times in terms of its products, technology, business model and user ecosystem since its inception in 2014. Faraday Future aims to continuously improve the way people move by creating a future-oriented mobility ecosystem that combines clean energy, AI and the internet and new consumption models. Faraday Future’s first flagship product is the FF 91 Futurist.
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NO OFFER OR SOLICITATION
This announcement does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction where the offer, solicitation or sale is prior to registration or qualification under securities laws such a jurisdiction.
FORWARD LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. As used in this press release, the words “estimate”, “forecast”, “expect”, “anticipate”, “forecast”. ‘, ‘plan’, ‘intend’, ‘believe’, ‘aim’, ‘may’, ‘will’, ‘should’, ‘future’, ‘propose’ and variations of these words or similar expressions (or the negative versions of such words or phrases) are intended to identify forward-looking statements. These forward-looking statements, which include, but are not limited to, statements regarding the expected start of production (SOP) and delivery date for our FF 91 Futurist vehicle, additional funding and the timing of its receipt, and FF shareholder approval of an authorized share increase and its timing no 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 beyond the Company’s control, which could cause actual results or results to differ materially from those set forth in those forward-looking Statements discussed differ. Important factors that could affect actual results or results include, among others, whether the amended shareholders’ agreement between the Company and FF Top dated January 13, 2023 satisfies the listing requirements of The Nasdaq Stock Market LLC, the market performance of the common stock of society; the Company’s ability to regain and thereafter comply with Nasdaq listing requirements; the Company’s ability to satisfy the conditions precedent and complete the various financings previously disclosed by the Company and any future financings, the failure of which could result in the Company seeking protection under the Bankruptcy Act; the Company’s ability to amend its Articles of Incorporation to permit the issuance of sufficient authorized shares in connection with the Company’s existing and proposed financings; whether the company and the city of Huanggang could agree on final documents to implement the non-binding framework cooperation agreement; the Company’s ability to comply with its public filing obligations under the Securities Exchange Act of 1934, as amended; the outcome of the SEC investigation relating to the matters subject to the Special Committee’s investigation and other litigation in which the Company was a party; the Company’s ability to implement its plans to develop and commercialize its vehicles and the timing of those development programs; the company’s estimates of the size of the markets for its vehicles and the costs of bringing those vehicles to market; the rate and degree of market acceptance of the company’s vehicles; the success of other competing manufacturers; the performance and safety of the Company’s vehicles; potential litigation involving the Company; the outcome of future financing efforts and general economic and market conditions affecting demand for the company’s products; recent cost, staffing and salary reduction measures may not be sufficient or may not produce the expected results; and the Company’s ability to attract and retain directors and employees. The foregoing list of factors is not exhaustive. You should describe the foregoing factors and the other risks and uncertainties discussed in the “Risk Factors” section of the Company’s Registration Statement on Form S-1 filed February 7, 2023 and other documents filed by the Company from time to time carefully consider the S. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on any forward-looking statement, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law .
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