Faraday Future Further Preps and Validates Manufacturing Equipment for Hanford Plant Installation

Rhea-AI Summary

Faraday Future (FF) has partnered with Gonzales Group to showcase the automated manufacturing system for the lightweight aluminum closures of its FF 91 model. The company is actively recruiting at its Hanford, CA facility, focusing on top-level positions in various assembly roles. FF is on track to meet production goals within the next 12 months, supported by funding from its recent NASDAQ IPO (ticker: FFIE). The FF 91 is positioned as a high-performance luxury electric vehicle, enhancing the company's intelligent techluxury brand.

Positive

• Partnership with Gonzales Group showcases innovative manufacturing capabilities.
• Active hiring in Hanford facility suggests expansion and growth.
• Funding from NASDAQ listing supports production goals.

Negative

• None.

• Faraday Future (FF), in partnership with Gonzales Group, unveiled an inside look at the fully automated system that will manufacture the FF 91’s lightweight aluminum closures. FF is on schedule to deliver its ultimate intelligent techluxury FF 91
• FF is also currently ramping up hiring efforts for the Hanford facility and expects to continue to increase hiring there in the coming months. Top-level positions are being recruited now, in vehicle assembly, paint, body and propulsion assembly

LOS ANGELES--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent mobility ecosystem company, today unveiled an inside look at an important milestone in the implementation of its manufacturing process for the FF 91. The new video highlights Gonzalez Group preparing and testing equipment for future installation at the FF manufacturing plant in Hanford, CA.

Faraday Future Further Preps and Validates Manufacturing Equipment for Hanford Plant Installation (Photo: Business Wire)

The recent video showcases the fully automated system to manufacture the lightweight aluminum closures for the FF 91, and also features part of robot health check and dry run activity. This necessary step is part of the programming confirmation with FF supplier (Gonzalez Group) as preparation for production builds which will be built at our Hanford Manufacturing facility. A link to the full video can be found here: https://genesis-cdn.ff.com/press_room/2126_Gonzalez_EditTA_v03B_ffcom.mp4

“This next step in the manufacturing process will ensure we’re prepared for our upcoming pre-production builds,” said Matt Tall, Vice President of Manufacturing. “We’re incredibly excited to continue on this path and deliver the ultimate intelligent techluxury FF 91 on schedule.”

FF continues to prepare the Hanford manufacturing site for the installation of manufacturing equipment, which will now speed up due to funding received in connection with its recent listing as a public company on Nasdaq. The resources to complete the Hanford manufacturing plant are in-hand, with construction and equipment installation mapped out to meet its production goal, which is within 12 months of the closing of its merger that occurred in late July of this year.

Faraday Future’s recent listing on NASDAQ (ticker symbol: FFIE) raised capital intended to finance the release of FF’s flagship vehicle, the FF 91, and pave the way for the FF 81 entry to market. 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.

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/
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 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 preliminary registration statement on Form S-1 recently filed by FF and other documents filed by FF 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 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/20210930005955/en/

For Faraday Future

Investors: ir@faradayfuture.com

Media: John Schilling

ff@finnpartners.com

Source: Faraday Future Intelligent Electric Inc.

FAQ

What recent developments has Faraday Future (FFIE) announced regarding manufacturing?

Faraday Future announced a partnership with Gonzales Group to present their automated manufacturing system for the FF 91's aluminum closures.

How is Faraday Future (FFIE) progressing with its hiring efforts?

FF is ramping up hiring at its Hanford facility, actively recruiting for various assembly positions.

What is the production timeline for the FF 91 model from Faraday Future (FFIE)?

FF is on track to meet its production goals for the FF 91 model within 12 months following its public listing.

How did Faraday Future's recent NASDAQ listing affect its production plans?

The funding received from its recent NASDAQ listing has bolstered FF's resources for its production goals.