FF Successfully Signs Definitive Agreements with Top OEMs, Kicking Off the Product Research Phase for Delivery of Two Models Targeted to Roll Off by End of 2025
Faraday Future (FFIE) has announced that its subsidiary, Faraday X (FX), has signed definitive agreements with top OEMs for the development of two planned vehicle models. The collaboration covers development, testing, regulatory compliance, supply chain, and production planning. The OEMs will serve as key component suppliers, potentially enabling FX to establish a competitive supply chain and aim for production by end of 2025. The company has appointed Xiao (Max) Ma as Global CEO of FX, who will report to FF Global CEO Matthias Aydt and Founder YT Jia. The initiative is part of FX's strategy to enter the U.S. AIEV mass market with both battery electric and range-extended vehicles.
Faraday Future (FFIE) ha annunciato che la sua controllata, Faraday X (FX), ha firmato accordi definitivi con i principali produttori di attrezzature originali (OEM) per lo sviluppo di due modelli di veicoli pianificati. La collaborazione comprende sviluppo, test, conformità normativa, gestione della catena di fornitura e pianificazione della produzione. Gli OEM fungeranno da fornitori chiave di componenti, potenzialmente permettendo a FX di stabilire una catena di fornitura competitiva e puntare alla produzione entro la fine del 2025. L'azienda ha nominato Xiao (Max) Ma come CEO globale di FX, che riporterà al CEO globale di FF, Matthias Aydt, e al fondatore YT Jia. L'iniziativa fa parte della strategia di FX per entrare nel mercato di massa AIEV degli Stati Uniti con veicoli elettrici a batteria e veicoli a estensione della gamma.
Faraday Future (FFIE) ha anunciado que su filial, Faraday X (FX), ha firmado acuerdos definitivos con los principales fabricantes de equipos originales (OEM) para el desarrollo de dos modelos de vehículos planificados. La colaboración abarca desarrollo, pruebas, cumplimiento normativo, gestión de la cadena de suministro y planificación de la producción. Los OEM actuarán como proveedores clave de componentes, lo que potencialmente permitirá a FX establecer una cadena de suministro competitiva y apuntar a la producción para finales de 2025. La compañía ha nombrado a Xiao (Max) Ma como CEO global de FX, quien reportará al CEO global de FF, Matthias Aydt, y al fundador YT Jia. La iniciativa es parte de la estrategia de FX para ingresar al mercado masivo AIEV de EE. UU. con vehículos eléctricos de batería y vehículos de rango extendido.
파라데이 퓨처(FFIE)는 그 자회사인 파라데이 X(FX)가 두 가지 계획된 차량 모델 개발을 위해 주요 OEM과 최종 계약을 체결했다고 발표했습니다. 이번 협력은 개발, 테스트, 규제 준수, 공급망 및 생산 계획을 포함합니다. OEM들은 핵심 부품 공급업체 역할을 하여, FX가 경쟁력 있는 공급망을 구축하고 2025년 말까지 생산 목표를 설정하는 데 도움을 줄 수 있습니다. 회사는 Xiao (Max) Ma를 FX의 글로벌 CEO로 임명했으며, 그는 FF의 글로벌 CEO인 Matthias Aydt와 창립자 YT Jia에게 보고할 것입니다. 이 이니셔티브는 FX가 배터리 전기 및 범위 연장 차량으로 미국 AIEV 대량 시장에 진입하는 전략의 일환입니다.
Faraday Future (FFIE) a annoncé que sa filiale, Faraday X (FX), a signé des accords définitifs avec les principaux fabricants d'équipements d'origine (OEM) pour le développement de deux modèles de véhicules prévus. La collaboration englobe le développement, les tests, la conformité réglementaire, la gestion de la chaîne d'approvisionnement et la planification de la production. Les OEM serviront de fournisseurs clés de composants, permettant potentiellement à FX d'établir une chaîne d'approvisionnement compétitive et d'aspirer à une production d'ici la fin de 2025. L'entreprise a nommé Xiao (Max) Ma en tant que PDG mondial de FX, qui rendra compte au PDG mondial de FF, Matthias Aydt, et au fondateur YT Jia. L'initiative fait partie de la stratégie de FX pour entrer sur le marché de masse AIEV aux États-Unis avec des véhicules électriques à batterie et des véhicules à autonomie prolongée.
Faraday Future (FFIE) hat angekündigt, dass ihre Tochtergesellschaft Faraday X (FX) definitive Vereinbarungen mit führenden OEMs für die Entwicklung von zwei geplanten Fahrzeugmodellen unterzeichnet hat. Die Zusammenarbeit umfasst Entwicklung, Tests, Einhaltung von Vorschriften, Lieferkettenmanagement und Produktionsplanung. Die OEMs werden als wichtige Komponentenlieferanten fungieren, was FX potenziell ermöglicht, eine wettbewerbsfähige Lieferkette aufzubauen und bis Ende 2025 mit der Produktion zu beginnen. Das Unternehmen hat Xiao (Max) Ma zum Global CEO von FX ernannt, der an den Global CEO von FF, Matthias Aydt, und den Gründer YT Jia berichten wird. Die Initiative ist Teil der Strategie von FX, mit batterieelektrischen und reichweitenverlängerten Fahrzeugen in den US-AIEV-Massenmarkt einzutreten.
- Secured agreements with top OEMs for component supply and development
- Strategic partnerships could accelerate production timeline to end of 2025
- Potential establishment of competitive supply chain infrastructure
- Success dependent on securing necessary funding
- No specific production volumes or financial terms disclosed
- Actual production timeline remains uncertain
Insights
The announcement of OEM partnerships for FX's mass-market vehicles represents a speculative development with significant execution risks. While the goal to launch two models by 2025 is ambitious, several critical concerns emerge:
- The company's extremely low market cap of
$21.2M raises serious questions about funding capabilities for mass production - The agreements are preliminary and contingent on securing necessary funding
- No specific details about the OEM partners or financial terms were disclosed
- The company's track record of missed deadlines and financial struggles adds uncertainty
The market opportunity in mass-market AIEVs is substantial, but FFIE's ability to execute, especially given its financial constraints, remains highly questionable. The lack of concrete financial commitments or specific production targets makes this announcement more aspirational than immediately actionable.
- Aiming at advancing the planned high-volume production and delivery of two models
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Signing formal agreements allows the Company to accelerate the planned high-volume production to fill the gap in the
U.S. AIEV mass market including battery electric and range-extended vehicles - The FX brand has entered the product research phase for delivery, the initial step for moving towards the goal of becoming the “Toyota of the AIEV era”
(Photo: Business Wire)
These OEMs could serve as top-tier parts suppliers for FX, providing key components for two FX vehicles. This marks significant progress for FX and the Global Automotive Industry Bridge Strategy, giving FX the opportunity, subject to securing necessary funding, to establish a globally competitive supply chain and significantly shorten the delivery cycle to meet the strategic goal of rolling out the first model by the end of 2025.
These agreements support FX’s goals of seizing historic blue ocean opportunities of the American AIEV industry and becoming the “Toyota of the AIEV era.”
“By empowering the FX mass-market models with much of the Ultimate AI TechLuxury technologies, we hope to fill the gap in the
“Through collaboration with top OEMs, FX plans to integrate global resources to establish a highly cost-effective supply chain while ensuring quality. By leveraging FF’s extensive product and technology advantages in AI, software, and intelligent internet applications, we aim to quickly achieve our vision of Co-create, An AIEV for Everyone,” said Max Ma, Global CEO of FX.
The Company announced that Xiao (Max) Ma has been appointed Global CEO of FX, reporting directly to both FF Global CEO Matthias Aydt and Founder & CPUO YT Jia. The FX brand has also begun hiring for key positions. If you are interested in exploring career opportunities with FX to help manifest the Company’s next generation of mobility AIEV products, we encourage you to visit our career page at https://www.ff.com/us/careers/.
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 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.
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, which include statements regarding the Company’s second brand (FX), 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 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, among others: the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure agreements with OEMs that are necessary to execute on the FX strategy; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of 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; the success of the Company’s payroll expense reduction plan; 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 Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; 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; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241112823477/en/
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
Source: Faraday Future Intelligent Electric Inc.
FAQ
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