Faraday Future Intelligent Electric Inc. - FFIE STOCK NEWS

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) has signed an Amended and Restated Shareholder Agreement with FF Top LLC, giving it super voting rights. This agreement allows FF Top to nominate four out of seven board members, potentially controlling the board. Additionally, FF has reached a non-binding Cooperation Framework Agreement with the City of Huanggang, China, to support its US-China dual-home market strategy. FF plans to relocate its China headquarters to Huanggang, which may provide financial and policy support for its operations. The company expects to start production of the FF 91 Futurist by April 2023.

Faraday Future (FF) announced its participation in CES 2023, showcasing the FF 91 Futurist alongside Innovusion's LiDAR technology. Production of the FF 91 Futurist is expected to start by late March 2023, contingent upon securing $150 to $170 million in additional funding. The company has made 26 significant upgrades to the FF 91 Futurist since 2021. Recently, FF received a $30 million binding letter of intent from an investor, pending approval. This vehicle features 1,050 horsepower and an EPA-certified range of 381 miles, aiming to enhance luxury electric vehicle standards.

Faraday Future (NASDAQ: FFIE) announced the appointment of Xuefeng Chen and Ke Sun to its Board of Directors effective December 27, 2022, following the resignations of Carsten Breitfeld and Edwin Goh. Chen, the global CEO, and Sun, previously a CFO at Yudo New Energy Auto, bring significant experience. The company anticipates the start of production for the FF 91 Futurist by March 2023, with deliveries expected by April, contingent on additional funding and shareholder approval for increasing authorized shares. The company recently achieved six out of seven manufacturing milestones toward production.

Faraday Future (FFIE) announces significant changes to its Board of Directors as Edwin Goh and Carsten Breitfeld resign. Xuefeng Chen, the new global CEO, will replace Breitfeld as Executive Director. Ke Sun has been nominated as an independent board member, bringing experience from Yudo New Energy Auto. These governance changes, driven by FF Global Partners, aim to realign the company with shareholder interests and enhance value. The moves come after a period of internal strife affecting operations and shareholder trust. FF Global Partners emphasizes its commitment to proven governance practices.

Faraday Future has announced the nomination of Jie Sheng to its Board of Directors, following the resignation of Lee Liu. Sheng, currently the Head of Operations & Finance Director at FF Global Partners, will also serve on the Nominating and Corporate Governance Committee and the Compensation Committee. This marks a significant governance change by FFGP, the major shareholder, as they aim to improve shareholder value and address dilution concerns from recent financings. The ongoing discussions focus on enhancing governance to ensure the company's long-term success.

Faraday Future has appointed Jie Sheng to its Board of Directors, effective December 18, 2022, replacing Lee Liu. Sheng, currently Head of Operations & Finance at FF Global Partners, brings extensive experience from China Aviation Fuel and North American Fuel Corporation. The company plans to begin production of the FF 91 Futurist by March 2023, with deliveries expected by April, contingent on securing $150 to $170 million in additional funding and stockholder approval for a share increase. Faraday Future has completed six out of seven manufacturing milestones necessary for this production.

Faraday Future announces the anticipated production start of the FF 91 Futurist at its California facility by the end of March 2023, with deliveries expected in April, pending funding and stockholder approval. The company is seeking $150-170M in additional capital, receiving a draft $30 million binding letter of intent from an existing investor. Notable upgrades have been made to the product through the Product and Technology Generation 2.0 program, enhancing 26 systems and components. Risks remain regarding financing and shareholder approvals.

Faraday Future (FF) announced key senior management changes to enhance leadership as the FF 91 Futurist approaches full-scale production. Matthias Aydt is appointed Global Senior Vice President, Product Execution, succeeding Bob Kruse. Xiaoyang Ning will act as head of Business Development, while Xiao Ma takes over Production Definition and Eco Mobile Systems. These changes aim to expedite production, with recent metrics indicating the FF 91 Futurist has exceeded performance expectations. A virtual investor update meeting is scheduled for December 15, 2022.

Faraday Future, a California-based electric mobility company, will host a virtual Global Investor Business Update Meeting on December 15, 2022, at 3pm PST/6pm EST. This meeting aims to unveil the company’s global business transformation plan, which includes the vehicle delivery strategy for the FF 91 Futurist. Institutional investors and analysts can find more information and register through the provided link. Preorders for the FF 91 Futurist can be made via the FF Intelligent App or the company’s website.