Faraday Future Intelligent Electric Inc. - FFIE STOCK NEWS

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) announced the achievement of manufacturing milestone #5, initiating major mechanical, electrical, and plumbing (MEP) systems in their Hanford, California facility. This milestone supports the upcoming launch of the FF 91, a luxury electric vehicle (EV) set for Q3 2022, as the company progresses toward its production goals. FF has reached five of seven milestones aimed at establishing a state-of-the-art production capability to rival top luxury automakers.

Faraday Future Intelligent Electric (FFIE) announced financial results for Q3 2021, reporting a net loss of $304 million, up from $33 million year-over-year, primarily due to increased operating expenses of $186 million. The company successfully completed a merger, listing publicly with gross proceeds of approximately $1 billion. FFIE is on track to launch the FF 91 by Q3 2022, following significant progress in manufacturing at its Hanford facility. The company has received 401 refundable preorders for the FF 91 and is expanding its workforce to support production.

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) announced Brembo as the primary supplier of brake systems for its upcoming FF 91 EV, set to launch in Q3 2022. Brembo, a leader in brake technology, will provide a comprehensive caliper assembly designed for optimal performance under varying conditions. This partnership aims to enhance vehicle safety and driver confidence. The FF 91 is being developed and manufactured in California, utilizing advanced technology from top suppliers and emphasizing a luxury electric vehicle experience.

Moov Technologies has announced two key appointments: Rajiv Chegu as Head of Operations and Andrew Wolstan as Head of Legal & Corporate Development. Chegu will support CEO Steve Zhou in managing company operations, while Wolstan brings valuable IPO experience from his tenure at Canoo (GOEV). These hires aim to bolster Moov's leadership in the second-hand semiconductor manufacturing equipment market, with plans to expand its workforce by 300% in 2022, targeting over 150 employees by year-end.

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) received a notice from Nasdaq on April 4, 2022, due to the delay in filing its Annual Report on Form 10-K for the year ending December 31, 2021. The company previously filed a Form 12b-25 for late filing and was granted an extension until May 6, 2022, to submit its Q3 Form 10-Q and Form 10-K. Failure to comply could lead to delisting. The company plans to timely submit its updated plan for compliance by April 19, 2022, and intends to file both reports before the extended deadline.

Faraday Future Intelligent Electric (FFIE) announces a partnership with Meta System to supply on-board power management products for the FF 91 electric vehicle, enhancing its launch prospects. The collaboration positions FF 91 to have a 15.2 kW AC charging capability, supporting its launch in Q3 2022. Meta System’s advanced technology aims to improve charging efficiency and safety, enabling a seamless user experience. Users can reserve the FF 91 Futurist model via the FF Intelligent APP or the company’s website.

Faraday Future Intelligent Electric (NASDAQ: FFIE) has launched the "Born in California. Global DNA" brand campaign, emphasizing the FF 91 EV's production in California and its global supplier network. The FF 91, aimed for launch in Q3 2022, integrates top-tier technology sourced internationally. The campaign highlights the contributions of global partners and celebrates production milestones with an ieMedals initiative for user engagement. CEO Carsten Breitfeld asserts that the FF 91 represents a unique blend of quality and innovation, underscoring the company's commitment to cutting-edge electric mobility.

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) announced a delay in filing its 2021 Form 10-K due to ongoing internal investigations and remediation efforts. The Company filed a Form 12b-25 with the SEC, indicating it will not file the Form 10-K by the extended deadline. An SEC investigation into prior disclosures is underway, with FF cooperating fully. Despite these challenges, FF aims to meet the Nasdaq deadline of May 6, 2022, for both the Form 10-K and the Q3 Form 10-Q. The Company is also working on its amended Registration Statement.

Faraday Future Intelligent Electric (NASDAQ: FFIE) has received approval from Nasdaq to proceed with a plan to regain compliance with the Listing Rule 5250(c)(1). An extension has been granted until May 6, 2022 for the filing of the Q3 Form 10-Q and the Form 10-K for the year ended December 31, 2021. This follows a delay due to an investigation by a special committee regarding inaccurate disclosures. The company aims to finalize these reports promptly and remains committed to timely financial reporting.