Faraday Future Unveils First Production-Intent FF 91 EV Manufactured at its Hanford, Calif. Plant

Rhea-AI Summary

Faraday Future has achieved manufacturing Milestone #4 with the unveiling of the first production-intent FF 91 ultra-luxury electric vehicle at its Hanford, California plant. This significant event keeps the company on track for the vehicle's start of production in Q3 2022. The company plans to build more production-intent vehicles over the next months for testing and final certification. The FF 91 aims to be the first ultra-luxury EV in the market, enhancing the driver and passenger experience with advanced technology.

Positive

• Completion of Milestone #4, indicating progress towards production.
• FF 91 set for start of production in Q3 2022.
• Plans to manufacture multiple production-intent vehicles for validation.

Negative

• None.

• With the first production-intent FF 91, Faraday Future has marked manufacturing Milestone #4 and remains on-schedule for the FF 91 start of production in Q3 2022
• The company will build several production-intent vehicles in the coming months for vehicle testing and validation, as well as final certification

HANFORD, Calif.--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, today unveiled the first production-intent FF 91 ultra-luxury EV. This marks the company’s manufacturing Milestone #4, pre-production builds for final engineering validation and certification, now referred to as production-intent vehicles. FF remains on schedule for the FF 91 start of production (“SOP”) in Q3 2022.

Faraday Future Unveils First Production-Intent FF 91 EV Manufactured at its Hanford, Calif. Plant (Photo: Business Wire)

“Building the first production-intent vehicle at the Hanford plant is an important step towards reaching the start of production in Q3. This iteration is the closest to the FF 91 production model we’ve seen to-date,” said Matt Tall, vice president of manufacturing at FF. “The FF 91 is expected to be the first ultra-luxury EV to reach the market, with a unique driver and passenger experience.”

The company will build more production-intent vehicles over the coming months for vehicle testing and validation, as well as final certification. Production-intent vehicles feature production-specification components. To watch a video of the vehicle unveiling, please visit: https://youtu.be/edkWSC_R-OI.

In October 2021, FF laid out seven manufacturing milestones leading into the FF 91’s SOP. Milestone #1 - Installation of pilot equipment in the Hanford manufacturing plant’s pre-production build area; Milestone #2 - Securing a Certificate of Occupancy, clearing the path for the company’s pre-production builds; and Milestone #3 - Begin foundation construction for all remaining production areas including body, paint, warehouse and vehicle assembly. The first three milestones have been reached, and today’s event marks Milestone #4 - Pre-production builds for final engineering validation and certification.

With the completion of the first production-intent vehicle, FF is launching the "Born in California, Global DNA" multi-channel communication campaign along with our “ieMedals” co-creation campaign. The FF 91 is designed and built in California by FF Co-Creators and the company’s global employees, with technology from many top tier suppliers from across the globe.

To commemorate the production achievements of the FF 91, the company launched the ieMedals campaign. With each production-intent vehicle manufactured in the months leading up to the FF 91’s SOP, FF will honor a different supplier of the FF 91 from around the globe with a unique ieMedal. Users on the FF Intelligent App can earn the supplier ieMedals for their individual accounts by completing specific tasks or fulfilling co-creation challenge requirements. The ieMedals are electronic awards added to users’ FFID accounts on the FF Intelligent App.

To participate in the ieMedals campaign, Futurists can download the FF Intelligent APP at: https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online.

The FF 91 Futurist Alliance and FF 91 Futurist models were designed to deliver the next generation of mobility in luxury, performance, and technology. They are high-performance EVs, with unique Internet, Autonomous, and Intelligence (I.A.I.) technology capabilities that enables the vehicle’s unique third internet living space.

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

Futurists can download the 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

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:

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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 Faraday Future’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 implementation of the Special Committee’s actions and related internal review by Faraday Future; Faraday Future’s ability to file the Q3 Form 10-Q and other required public filings before the time period specified in the Nasdaq delinquency letter and its ability to regain compliance with the Nasdaq continued listing standards; Faraday Future’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; Faraday Future’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 Faraday Future’s vehicles; the success of other competing manufacturers; the performance and security of Faraday Future’s vehicles; potential litigation involving Faraday Future; the result of future financing efforts and general economic and market conditions impacting demand for Faraday Future’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 Faraday Future and other documents filed by Faraday Future 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 Faraday Future 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/20220223006406/en/

For Faraday Future

Investors: ir@faradayfuture.com

John Schilling

Media: john.schilling@ff.com

Tim Gilman

Media: tim.gilman@ff.com

Source: Faraday Future Intelligent Electric Inc.

FAQ

What is the significance of the FF 91 production-intent vehicle for FFIE?

The FF 91 production-intent vehicle marks a crucial milestone in FFIE's manufacturing process, indicating they are on schedule for the vehicle's planned production start in Q3 2022.

When is the expected start of production for the FF 91?

The start of production for the FF 91 is expected in Q3 2022.

What milestones has Faraday Future achieved leading up to the FF 91's production?

Faraday Future has achieved three prior milestones, including installation of pilot equipment and securing a Certificate of Occupancy.

How does the FF 91 differ from other electric vehicles?

The FF 91 is designed as an ultra-luxury EV, offering a unique driver and passenger experience with advanced technology and specifications.