Faraday Future (FF) Announces Eco-O2O Direct Sales Strategy and Confirms Active Search for Permanent Locations of its First Two Flagship Stores in the United States

Rhea-AI Summary

Faraday Future (FF) is actively seeking flagship store locations in Los Angeles and New York City to implement its Eco-O2O direct sales strategy. This model will integrate online platforms, FF-owned, and partner-owned stores, creating an asset-light sales network. The flagship stores will allow potential users to experience the FF 91 electric vehicle's advanced technology and performance. FF aims to establish its presence in 20 major cities worldwide by 2025, with existing partnerships for sales distributions in the U.S. and China.

Positive

• Pursuing flagship store locations in Los Angeles and New York City enhances brand visibility.
• Eco-O2O direct sales strategy combines online and physical presence for higher user engagement.
• Plans to expand into 20 major cities by 2025, potentially growing market share.

Negative

• Dependence on the launch of physical stores may delay market penetration.
• Execution risks involved in establishing a new sales model.

• FF is currently searching for initial flagship store locations in both Los Angeles and New York City to accommodate its Eco-O2O direct sales strategy
• FF will go-to-market using an Eco-O2O direct sales model that leverages its online platforms (FF Intelligent App, FF.com), FF-owned stores, and partner-owned stores and showrooms for an asset-light sales network

LOS ANGELES--(BUSINESS WIRE)-- Faraday Future (“FF”), a California-based global shared intelligent mobility ecosystem company, today announced that it is actively searching for locations for its permanent flagship store operations in both Los Angeles and New York City. Locations will be in upscale, high traffic areas in both cities. FF flagship stores will offer future users a unique showcase to view and experience the ultimate intelligent techluxury FF 91’s design, technology and features, including its third internet living space and extreme performance capabilities.

Faraday Future Retail Showroom Rendering (Photo: Business Wire)

“We are excited to be pursuing our first physical FF-owned flagship stores which will symbolize FF's core values and the integration of luxury and technology, while guiding users through our unique brand story and experiencing our flagship ultimate intelligent techluxury EV FF 91,” said Christian Gobber, Vice President, Online-to-Offline (“O2O”) Sales, User Ecosystem. “In addition to our FF-owned showrooms, online efforts will continue to play a large part and important role in showcasing our products.”

FF will go-to-market using an Eco-O2O direct sales model leveraging its online platforms (FF intelligent APP, FF.com), FF-owned stores, and partner-owned stores and showrooms for an asset-light sales network expansion. Having its own distribution network will allow FF to provide a seamless user experience and enable the company to deliver the highest level of price transparency to its users.

FF is targeting a future flagship store presence in the 20 top cities around the world by 2025. To date, the company has signed memoranda of understanding with sales partners including Jolta in the U.S., and China Harmony New Energy Auto Holding Limited (Harmony Group) in China, among others. Jolta is the first-ever electric vehicle “EV” dealership in the U.S., and Jolta’s EV dealership network plans to cover 15+ major U.S. cities by 2025 and 30+ by 2030.

The FF 91 Futurist Alliance Edition and FF 91 Futurist models represent the next generation of intelligent techluxury EVs. They are high-performance EVs, all-in-one all ability cars, and ultimate robotic vehicles that allow users to experience the third internet living space. The models also encompass extreme technology, an ultimate user experience and a complete ecosystem.

Both models have an industry-leading 1050 horsepower, a 130kWh battery pack with immersive liquid cooling technology and 0-60 mph performance in 2.4 seconds. In addition, both employ tri-motor torque vectoring and rear wheels independently driven and controlled by dual rear motors. Both models are also equipped with the industry‘s only super Access Point for internet connection at “light speed”, video streaming on the passenger information display, a rear intelligent internet system, an in-car video conferencing system, intelligent seamless entry, FFID face recognition, multi-touch eyes-free control, and zero gravity rear seats with the industry’s largest seating angle of 150 degrees.

Users can reserve an FF 91 Futurist model now via the FF intelligent APP or FF.com at: https://www.ff.com/us/reserve.

Download the new FF intelligent APP at: https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online.

ABOUT FARADAY FUTURE

Established in May 2014, FF is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. Since its inception, FF has implemented numerous innovations relating to its products, technology, business model, profit model, user ecosystem, and governance structure. On July 22, 2021, FF was listed on NASDAQ with the new company name “Faraday Future Intelligent Electric Inc.”, and the ticker symbols “FFIE” for its Class A common stock and “FFIEW” for its warrants. FF 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. With the ultimate intelligent techluxury brand positioning, FF’s first flagship product FF 91 Futurist is equipped with unbeatable product power. It is not just a high-performance EV, an all-ability car, and an ultimate robotic vehicle, but also the third internet living space.

FOLLOW FARADAY FUTURE:

https://www.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 press release, 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. 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 FF’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: FF’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; FF’s estimates of the size of the markets for its vehicles; the rate and degree of market acceptance of FF’s vehicles; the success of other competing manufacturers; the performance and security of FF’s vehicles; potential litigation involving FF; the result of future financing efforts and general economic and market conditions impacting demand for FF’s products. 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 registration statement on Form S-1 filed by Faraday Future Intelligent Electric Inc. 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 FF 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/20210907005355/en/

For Faraday Future

Investors: ir@faradayfuture.com

Media: ff@finnpartners.com

Source: Faraday Future

FAQ

What are Faraday Future's plans for flagship stores in 2023?

Faraday Future is searching for flagship store locations in Los Angeles and New York City to implement an Eco-O2O direct sales strategy.

How will FF's Eco-O2O sales model work?

The Eco-O2O sales model will leverage online platforms and physical showrooms to create an asset-light sales network.

What is the target for FF's store presence by 2025?

FF aims to establish flagship stores in 20 major cities worldwide by 2025.

What vehicles will be showcased in FF's flagship stores?

The flagship stores will showcase the FF 91 electric vehicle, highlighting its design and technology.

What partnerships has FF established for sales distribution?

FF has signed memoranda of understanding with sales partners like Jolta in the U.S. and Harmony Group in China.