Faraday Future Receives Over 300 No-Deposit Reservations for FF 91 2.0 aiFalcon within 72 hours Following the Success of its Middle East Strategy Press Conference and the Yas Marina Circuit Showcase at the Abu Dhabi Formula 1 Grand Prix

Rhea-AI Summary

Faraday Future Intelligent Electric Inc. (FFIE) has received over 300 nonbinding no-deposit reservations for the FF 91 2.0 Futurist aiFalcon limited edition within 72 hours following the FF Middle East Strategy Launch Press Conference at Abu Dhabi. The company plans to introduce the FF 91 2.0 Futurist aiFalcon Limited Edition to the Middle East market as early as 2024. FF recently announced a strategic cooperation agreement with Master Investment Group and Siraj Holding LLC to support its business expansion, sales and marketing, strategic financing, and partnership relationships in the Middle East.

 

ABU DHABI, United Arab Emirates--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has received over 300 nonbinding no-deposit reservations for the FF 91 2.0 Futurist aiFalcon limited edition. These non-binding reservations were received within 72 hours following the FF Middle East Strategy Launch Press Conference at Abu Dhabi.

Faraday Future Receives Over 300 No-Deposit Reservations for FF 91 2.0 aiFalcon within 72 hours Following the Success of its Middle East Strategy Press Conference and the Yas Marina Circuit Showcase at the Abu Dhabi Formula 1 Grand Prix (Photo: Business Wire)

FF believes these nonbinding reservations highlight the strong attraction of the FF brand and product. Looking ahead, FF plans to introduce the FF 91 2.0 Futurist aiFalcon Limited Edition to the Middle East market as early as 2024. The Company aims to solicit deposits from these nonbinding reservations following the acquisition of necessary local regulatory sales licenses and other applicable regulatory compliance.

Matthias Aydt, Global CEO of FF, stated, "We are extremely excited and grateful for the enthusiastic response in the Middle East. As the flagship model of our Company, the unique design and innovative performance of FF 91 2.0 Futurist aiFalcon will bring a completely new mobility experience to users in the Middle East. We will continue our efforts to ensure outstanding products and services for our users."

Furthermore, starting on November 24, the FF 91 2.0 Futurist Alliance made a stunning appearance at the Abu Dhabi Yas Marina Circuit, one of the world's most advanced circuits, during the Abu Dhabi Formula 1 Grand Prix week. This garnered significant attention, with numerous global users gaining firsthand experiences inside the car. Notably, several users from the United States made on-site fully refundable pre-order deposits for the FF 91 2.0 Futurist Alliance, reflecting enthusiastic support for this groundbreaking product.

FF recently announced a strategic cooperation agreement with Master Investment Group and Siraj Holding LLC. Sheikh Abdullah bin Mohamed Al Qassimi and Ahmed Khalaf Al Otaiba will join FF’s Global Advisory Committee and serve as directors of an FF Middle East subsidiary. The Company expects that they will play a key role in supporting FF's business expansion, sales and marketing, strategic financing, and partnership relationships in the Middle East.

FF remains dedicated to advancing electric vehicle technology to meet the evolving needs and preferences of users worldwide, driven by a pursuit of intelligent and AI-driven mobility.

(English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Those residing in the Middle East can submit nonbinding no-deposit reservation for an FF 91 2.0 Futurist aiFalcon vehicle via the Company’s UAE website: https://www.ff.com/ar/en/reservation/

ABOUT FARADAY FUTURE

Faraday Future is the pioneer of the Ultimate AI TechLuxury ultra spire market in the intelligent EV era, and the disruptor of the traditional ultra-luxury car civilization epitomized by Ferrari and Maybach. FF is not just an EV company, but also a software-driven intelligent internet company. Ultimately FF aims to become a User Company by offering a shared intelligent mobility ecosystem.

FF 91 - The First of its Kind

The “All-Ability aiHypercar” FF 91 2.0 is a newly evolved silicon-based species, which features incredible vehicle configurations, unparalleled luxury features and exhilarating performance. Possessing three motors with 1050hp; 1977Nm of electric motor output torque, and the largest in the class battery pack energy: 142kwh; it has an EPA (U.S.) certified range of 381 miles, the farthest in class.

From the beginning, the FF 91 2.0 was developed to be an All-AI, All-Hyper, All-Ability vehicle. FF accomplished this through its 6x4 Architecture. The architecture has 4 Technology systems, supported by, and integrated with 6 Technology platforms. Together in FF 91 2.0, these systems and platforms deliver the ultimate experience to FF’s users. The 4 technology systems that are the foundation of the FF 91 2.0 are comprised of the Magic-All-In-One, Hyper Multi-Vectoring, 3rd AiSpace/FF aiPal, and AiDriving. In addition, these 4 systems are supported by FF’s 6 Technology Platforms which include, FF Open App for open application development, FF aiOS for User Interface Systems, FF aiHW 2.0 is FF’s second-generation computing platforms, FF Mechanical are the structural, EV, and safety systems, FF Cloud is for computing and Storage and FF AI is for Language and other AI systems.

In terms of safety, the FF 91 2.0 has a “moat body structure” + “moat pack structure”, creating a side impact crumple zone. The "moat structures" are integrated with the aluminum body, providing the largest-in-class battery crumple zone. The “moat design” is intended to balance optimal occupant protection and high voltage battery protection as well as providing optimal packaging space for the vehicle design.

The FF 91 2.0 vehicle successfully passed the U.S. Federal Motor Vehicle Safety Standard (FMVSS) crash test requirements. FF has performed the highest severity crash tests and has passed all of these tests successfully, including front, side and rear crash tests.

FF 91 2.0 also boasts the longest interior space among ultra-luxury vehicles with a similar wheelbase + Zero-Gravity seat with the industry's largest recline angle of 60 degrees, bringing the comfort level of first class to land. With an acceleration time of just 2.27 seconds for 0-60 mph (96 km/h), the FF 91 2.0 takes the top spot in terms of acceleration-to-weight ratio of 0.78, surpassing traditional and electric vehicle competitors alike. This performance capability has been proven, including the FF 91 2.0 setting lap time class records at two American racetracks, Button Willow Raceway and Willow Springs International Raceway.

As with everything at FF, the platforms are continuously being upgraded and improved. Future development plans include integration of third-party developed plug-ins via the open platform, and to utilize the vehicle as part of a generative AI database. FF is also actively working on enhanced performance packages, and AI Racing technology for improved track experiences. These systems will continuously improve via internal strategies and with our Co-Creation partners.

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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 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 continue as a going concern and improve its liquidity and financial position; the Company’s ability to remediate its material weaknesses in internal control over financial reporting; risks related to the restatement of the Company’s previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; increased operating expenses; incorrect assumptions and analyses developed by management; the market performance of the Company’s common stock; the Company ability to comply with Nasdaq listing requirements; 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; the Company’s ability to receive funds from, satisfy the conditions precedent of, and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; insurance coverage; the outcome of the Securities and Exchange Commission (“SEC”) investigation relating to the matters that were the subject of the Special Committee investigation; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturers; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; general economic and market conditions impacting demand for the Company’s products; risks related to the Company’s operations in China; risks related to the Company’s stockholders who own a significant amount of the Company’s common stock; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; the ability of the Company to attract and retain directors and employees; any adverse developments in existing legal proceedings or the initiation of new legal proceedings; and volatility of the Company’s stock price. 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 Annual Report on Form 10-K/A for the year ended December 31, 2022 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, as well as in 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/20231127574819/en/

Investors (English): ir@faradayfuture.com

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

Media: john.schilling@ff.com

Source: Faraday Future Intelligent Electric Inc.

FAQ

How many nonbinding no-deposit reservations has Faraday Future Intelligent Electric Inc. received for the FF 91 2.0 Futurist aiFalcon limited edition?

Faraday Future Intelligent Electric Inc. (FFIE) has received over 300 nonbinding no-deposit reservations for the FF 91 2.0 Futurist aiFalcon limited edition within 72 hours following the FF Middle East Strategy Launch Press Conference at Abu Dhabi.

When does Faraday Future Intelligent Electric Inc. plan to introduce the FF 91 2.0 Futurist aiFalcon Limited Edition to the Middle East market?

FF plans to introduce the FF 91 2.0 Futurist aiFalcon Limited Edition to the Middle East market as early as 2024.

With whom did Faraday Future Intelligent Electric Inc. recently announce a strategic cooperation agreement?

FF recently announced a strategic cooperation agreement with Master Investment Group and Siraj Holding LLC to support its business expansion, sales and marketing, strategic financing, and partnership relationships in the Middle East.