Faraday Future Announces Elevation of Mathias Hofmann to Oversee FF ieFactory California

Rhea-AI Summary

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) announced that Mathias Hofmann, currently Head of Global Supply Chain, will assume the additional role of Head of Manufacturing Operations in Hanford, CA, on an interim basis. He replaces Matt Tall, who is leaving for personal reasons. Dr. Carsten Breitfeld, CEO, praised Hofmann's extensive experience managing automotive assembly plants globally. FFIE is nearing completion of its FF ieFactory in California, preparing for the production of its flagship electric vehicle, the FF 91, which promises a luxury, high-performance electric driving experience.

Positive

• Mathias Hofmann’s appointment to oversee manufacturing operations may enhance operational efficiency and production readiness.
• The FF 91 electric vehicle is positioned as a high-end luxury EV, which could attract premium customers and enhance market presence.

Negative

• The resignation of Matt Tall could indicate instability in management during a critical phase of production ramp-up.
• The need for an interim head suggests potential gaps in leadership continuity at a pivotal time for FFIE.

• Mathias Hofmann, Head of Global Supply Chain, to Oversee Operations in Hanford, CA
• Brings Extensive Plant Management Experience Across Three Continents

HANFORD, Calif.--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (“FF,” the “Company”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today announced that Mathias Hofmann, Head of Global Supply Chain, will assume the additional position of Head of Manufacturing Operations on an interim basis. Mr. Hofmann will replace Matt Tall, who will be leaving the company for personal reasons and returning to his family in Florida.

Faraday Future Announces Elevation of Mathias Hofmann to Oversee FF ieFactory California (Photo: Business Wire)

“I want to thank Matt Tall for his exceptional dedication and leadership. As we near completion of the construction and equipment installation at the FF ieFactory California in Hanford, his unwavering commitment to excellence is apparent throughout the facility and positions us very well as we move toward the start of production,” said Dr. Carsten Breitfeld, Global CEO, Faraday Future.

“Having worked with Mathias first at BMW and now at Faraday Future, I am pleased to have an executive of his talent and experience take over FF ieFactory California operations as we move toward the start of production. Mathias has demonstrated outstanding leadership and commitment to Faraday Future and has managed complex automotive assembly plants on three continents. Mathias is supported by exceptionally strong teams in supply chain in both the United States and in China and will lead an outstanding team in Hanford,” said Dr. Breitfeld.

FF’s flagship electric vehicle, the FF 91, will be the first high-end, high-performance, luxury, intelligent EV and will reset customer expectations for both driver and passenger experience. The FF 91 was designed in the company’s headquarters in Los Angeles, engineered in Los Angeles, Silicon Valley, and China, and is being produced in the FF ieFactory California. The FF 91’s “Global DNA” reflects the talent at FF and across the globe, with support from top-tier suppliers from countries such as Italy, Germany, Japan, the Netherlands, China, Belgium, Switzerland, and more.

Users can preorder an FF 91 via the FF Intelligent App or through our website
(English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/
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 pioneered numerous innovations relating to its products, technology, business model, and user ecosystem since inception in 2014. Faraday Future aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet, and new usership models. Faraday Future’s first flagship product is the FF 91 Futurist.

FOLLOW FARADAY FUTURE:

https://www.ff.com/
http://appdownload.ff.com
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture

NO OFFER OR SOLICITATION

This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this report, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, and include (among others) statements regarding the expected timing of the production and deliveries of FF 91 vehicles, the capital the Company is seeking to raise to fund its operations, the terms and status of any potential financing transaction and related negotiations with potential investors and financing sources, and the Company’s anticipated liquidity needs. These forward-looking statements 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’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to secure adequate funding to commercially launch the FF 91 and fund its operations; supply chain disruptions and rising prices of materials; the Company’s ability to remain in compliance with the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed on Nasdaq; the outcome of the Securities and Exchange Commission (“SEC”) investigation relating to the matters that were the subject of the Special Committee investigation; the implementation of the Special Committee’s actions by the Company; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s 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’s vehicles; the success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; and the ability of the Company to attract and retain employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form S-1/A (File No. 333-258993) filed with the SEC on June 9, 2022, and other documents filed by the Company from time to time with the SEC. 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 put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220815005198/en/

Investors (English): ir@faradayfuture.com

Investors (Chinese): cn-ir@faradayfuture.com

Media:

John Schilling: john.schilling@ff.com

Tim Gilman: tim.gilman@ff.com

Source: Faraday Future Intelligent Electric Inc.

FAQ

What is the latest update on Faraday Future's FF 91 production?

Faraday Future is nearing the completion of its FF ieFactory in California, preparing for the production of the FF 91 electric vehicle.

Who has been appointed to oversee manufacturing operations at Faraday Future?

Mathias Hofmann has been appointed as the interim Head of Manufacturing Operations at Faraday Future.

Why did Matt Tall leave Faraday Future?

Matt Tall is leaving Faraday Future for personal reasons and is returning to his family in Florida.

What are the expectations for the FF 91 electric vehicle?

The FF 91 is anticipated to be a high-end, luxury electric vehicle that aims to reset customer expectations in the EV market.

What industry experience does Mathias Hofmann bring to his new role?

Mathias Hofmann brings extensive experience managing complex automotive assembly plants across three continents.