Faraday Future Welcomes Hanford, California City Officials to Its Hanford Production Facility

Rhea-AI Summary

Faraday Future (FFIE) made significant progress at its manufacturing site in Hanford, California, with a recent visit from local officials highlighting its advancements. The company plans to hire 50 new employees by year-end, with an additional 350 in 2022 as production ramps up. FF has achieved its first major milestone and is on track for Start of Production of the FF 91 EV in July 2022. The facility aims to deliver luxury-focused, high-quality vehicles, setting FF apart in the EV market.

Positive

• Plans to hire 50 employees by year-end, and an additional 350 in 2022.
• Achieved first major milestone towards Start of Production (SOP) for FF 91 EV in July 2022.
• Focus on luxury production differentiates FF from traditional mass manufacturers.

Negative

• None.

• Hanford Mayor Francisco Ramirez and City Manager Mario Cifuentez recently visited Faraday Future’s manufacturing site in Hanford, California to review the construction and equipment installation progress
• FF will hire 50 new employees at its Hanford production facility by year end and up to an additional 350 more in 2022 as it ramps up production
• FF recently completed its first major milestone at its Hanford facility and laid out its upcoming plans for the remaining key milestones leading up to Start of Production (SOP) next summer

HANFORD, Calif.--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company, recently welcomed Hanford Mayor Francisco Ramirez and City Manager Mario Cifuentez to its production facility in the Central Valley of California to share current and future progress updates related to its production plans. FF invited the local officials as a part of a recent executive update session at its Hanford plant that detailed upcoming milestones in its manufacturing process for the ultimate intelligent techluxury FF 91 EV. FF remains on-target to launch the FF 91 in July 2022.

Matt Tall, VP of Manufacturing for FF reviewing the progress & layout of the construction site with the FF team and the Mayor of Hanford (Photo: Business Wire)

“I want to thank FF for giving me a very straightforward and thorough update tour of their FF 91 factory here in Hanford last week. I was able to see firsthand just how far they have come in a short time and also hear about their strategic milestones, including local hiring plans, as they ramp up to fully complete their production facility in the coming months,” said Hanford Mayor Ramirez. “This facility will be a first-rate production hub for their vehicles and will allow local qualified residents to be part of the workforce they are bringing in now and the near future to help deliver the FF 91 to the market next summer.”

A video interview with Hanford Mayor Ramirez with more detail on his visit to FF’s manufacturing facility can be found here: https://ev.ff.com/3BXpYet

The FF 91 production goals are modest, focusing on smaller volume and specific clientele, ensuring a smooth roll out of the FF 91 and future vehicles. 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. This is one of the many FF differentiators compared to traditional OEM mass production.

“FF represents a true anchor on which to attract additional technology and EV companies. The Economic Development Corp. (EDC) was involved in helping to recruit FF to Kings County, and we have maintained a positive relationship with the company,” said Kings County EDC President Lance Lippincott. “We are confident their success will encourage suppliers and other businesses to locate in Kings County. We are ready to help them be successful.”

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. A video link with more detail on FF’s Hanford manufacturing facility including a detailed walk through conducted by Matt Tall, FF’s VP of manufacturing can be viewed here: https://ev.ff.com/3E0mt7I

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/20211019006292/en/

For Faraday Future

Investors: ir@faradayfuture.com

John Schilling

Media: john.schilling@ff.com

Source: Faraday Future Intelligent Electric Inc.

FAQ

What are Faraday Future's hiring plans for 2022?

Faraday Future (FFIE) plans to hire 50 new employees by year-end and an additional 350 more in 2022.

What is the timeline for the production of FF 91 EV?

Faraday Future is on track to start production of the FF 91 EV in July 2022.

What recent milestone has Faraday Future achieved?

Faraday Future recently completed its first major milestone at the Hanford production facility.

Where is Faraday Future's manufacturing facility located?

Faraday Future's manufacturing facility is located in Hanford, California.

How does Faraday Future differentiate itself in the EV market?

Faraday Future focuses on a luxury production setup, ensuring high-quality craftsmanship for its FF 91 EV, unlike traditional OEM mass production.