Faraday Future Outlines Robust FF 91 Manufacturing Updates for its Hanford, California Plant, Successfully Completes First Major Milestone

Rhea-AI Summary

Faraday Future Intelligent Electric (FFIE) is set to launch its FF 91 luxury EV by July 2022, as confirmed by recent updates from its Hanford, California facility. The company has achieved significant milestones, including the installation of pilot equipment and a bespoke production setup aimed at high-quality craftsmanship. FF plans a modest production volume that prioritizes quality and personalization, differentiating itself from mass production competitors. The company remains on schedule to meet these targets, backed by strong capital raised since its NASDAQ listing.

Positive

• FF achieved major milestones in the manufacturing process for the FF 91 EV.
• Progress includes installation of pilot equipment and a luxury-focused production setup.
• FF remains on track for a July 2022 launch for the FF 91.
• The production strategy focuses on quality, personalization, and small volume for the FF 91.

Negative

• None.

• Launch of the ultimate intelligent techluxury FF 91 remains on track for summer 2022
• FF completed its first major milestone at its Hanford facility – complete installation of pilot equipment in our pre-production build area
• FF’s Hanford facility will adopt a bespoke, high-quality, luxury-focused production setup for its flagship FF 91 EV, engineered and designed for superior craftsmanship befitting FF’s exclusive, high-end, luxury vehicles

HANFORD, Calif.--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today unveiled upcoming milestones in its manufacturing process for the ultimate intelligent techluxury FF 91 EV. FF shared the timeline with local Hanford officials as part of an FF executive factory review. With the progress made by the Hanford manufacturing and operations teams, along with the support of FF’s suppliers, FF remains on target to launch the FF 91 in July 2022.

FF Pre-production build area (Photo: Business Wire)

“Our Hanford manufacturing facility has made important strides the past few months. Today we announced just how far we have come in a short time and announced the aggressive ramp-up to fully complete our production facility in the coming months,” said FF Vice President of Manufacturing, Matt Tall. “I am personally involved in the day-to-day operations and construction here at Hanford to ensure we finish all of our construction milestones to deliver the FF 91 to the market next summer as promised, on schedule and with superior quality.”

A link to more detail on FF’s Manufacturing updates from Matt Tall can be found here: https://ev.ff.com/3FQS3Go

The FF 91 production goals are modest, focusing on a smaller volume and specific clientele, ensuring a smooth roll out of the FF 91 and future vehicles.

Since going public in July, FF has kicked off construction at the Hanford plant and has completed the pilot line systems to support FF pre-production builds. The key production milestones at the Hanford plant include:

• Milestone #1: Complete installation of pilot equipment in FF pre-production build area.
• Milestone #2: Complete work to secure a Certificate of Occupancy, clearing the path for FF pre-production builds.
• Milestone #3: Start foundation construction for all remaining production areas including body, propulsion, warehouse and vehicle assembly.
• Milestone #4: Pre-production builds for final engineering validation and certification vehicles.
• Milestone #5: Start all major mechanical electrical and plumbing (MEP) systems to support equipment installation.
• Milestone #6: Complete construction and equipment installation in final vehicle manufacturing areas.
• Final Milestone: Start of Production (SOP) - summer 2022.

In addition to the manufacturing updates described above, FF also has achieved progress in the FF 91 program, including:

• Finalizing stamping dies
• Body assembly automation
• Paint shop automation
• Battery pack manufacturing strategy
• Inverter manufacturing systems
• Vehicle assembly systems

FF is creating a state-of-the-art facility that uses leading-edge automated production processes and highly skilled craftsmanship to rival the top luxury automakers of the world. To fulfill the expectation of the top-tier FF 91 user segment, the FF 91 manufacturing strategy calls for superior craftsmanship, cutting-edge technology, and the ability to personalize the vehicle to meet the style and functionality requirements of each user. This is one of the many FF differentiators compared to traditional OEM mass production.

“The resources to complete our Hanford manufacturing plant are in-hand, with construction and equipment installation mapped out with defined milestones to meet our production goal,” said FF Global CEO Dr. Carsten Breitfeld. “We are continuing to innovate our production process, and we are confident that we will deliver the FF 91 Futurist on time next year, with high quality and strong product capability.”

Faraday Future’s recent listing on NASDAQ (ticker symbol: FFIE) not only raised capital to produce FF’s flagship vehicle, the FF 91, but also supported industry-leading product improvements. The FF team will continue to focus on innovation, providing a one-of-a-kind experience with the FF 91, along with the next vehicle in the FF lineup, the FF 81.

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 a third internet living space beyond their home and office. The models 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 and costs to bring its vehicles to market; 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/20211014006195/en/

For Faraday Future

Investors: ir@faradayfuture.com

Media: john.schilling@ff.com

Source: Faraday Future Intelligent Electric Inc.

FAQ

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

Faraday Future announced significant progress at its Hanford facility, including pilot equipment installation, and remains on schedule to launch the FF 91 by July 2022.

When is the FF 91 expected to launch?

The FF 91 is expected to launch in July 2022.

What are the key production milestones for the FF 91?

Key milestones include installation of pilot equipment, securing a Certificate of Occupancy, and beginning pre-production builds.

What differentiates the FF 91 from traditional EVs?

The FF 91 focuses on luxury, personalization, and superior craftsmanship, contrasting with mass production strategies.

What is Faraday Future's stock symbol?

Faraday Future's stock symbol is FFIE, listed on NASDAQ.