Faraday Future Intelligent Electric Inc. - FFIE STOCK NEWS

Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) has announced a Co-Creation cooperation with the First US-Canada Hanlin Cup Golf Classic. This partnership aims to enhance the brand influence of FF and the Faraday X (FX) brand. The event, scheduled for September 30 - October 1 in Yorba Linda, California, is expected to attract nearly 140 entrepreneurs, investors, and celebrities from the U.S., Canada, and China.

The 'Hanlin Cup' Golf Classic, a prestigious amateur golf event in China, is expanding to North America with this tournament. In 2024, the event plans to involve nearly 100 universities, host over 80 events, and engage more than 6,000 alumni. Matthias Aydt, Global CEO of Faraday Future, expressed enthusiasm for the cooperation and the potential for deeper partnerships in various fields.

Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) announced key leadership changes to support its dual-brand strategy. Koti Meka has been appointed as Chief Financial Officer and principal financial officer, effective September 23, 2024. Aaron Ma was named Acting Head of EV R&D, effective August 20, 2024. Both will report directly to Global CEO Matthias Aydt.

These appointments align with the company's recent launch of its second brand, Faraday X (FX), which aims to create Artificial Intelligence Electric Vehicles with "twice the performance at half the price". Meka and Ma will drive strategic goals for both FF and FX brands, focusing on R&D and cost efficiencies.

Meka, 55, has been with the company since 2016, most recently serving as Acting Head of Finance Operations. Ma will retain his current position as Global Vice President of IAI software R&D, bringing over 20 years of experience to his new role.

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) has delivered an FF 91 2.0 Futurist Alliance to Born Leaders Entertainment at the Warwick Club in Hollywood on September 20. Born Leaders Entertainment, a company supporting major artists in the entertainment industry, becomes a user and Developer Co-Creation Officer for FF.

The delivery event was attended by top American sports and entertainment celebrities. This collaboration marks a step forward in FF's B2B business, potentially leading to promotional opportunities, red carpet events, and VIP chauffeur services with the FF 91.

Matthias Aydt, Global CEO of FF, expressed excitement about the delivery and future collaborations with top celebrities through Co-Creation with Born Leaders Entertainment. Users can preorder an FF 91 2.0 vehicle via the FF Intelligent App or through ff.com.

Faraday Future (Nasdaq: FFIE) announced the launch of its second brand, Faraday X (FX), targeting the mass market with affordable AIEVs (Artificial Intelligence Electric Vehicles). FX plans to introduce two models: FX 5 (expected price $20,000-$30,000) and FX 6 ($30,000-$50,000), offering both range-extended and battery-electric versions. The company aims to start production by the end of 2025, subject to funding.

FX's strategy includes five key initiatives: open-source and user-defined co-creation, global auto industry bridge strategy, creating the RE-AIEV category, leveraging FF's legacy, and maintaining premium quality with light assets. The company has established relationships with four Chinese OEMs to promote Range Extended AIEVs in the U.S. market.

A recent survey revealed high demand for cost-effective, high-performance AIEVs in the U.S., presenting a significant opportunity for FX to enter the market with innovative solutions addressing key user pain points such as high costs, range anxiety, and autonomous driving options.

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) has announced the planned delivery of an FF 91 2.0 Futurist Alliance to Born Leaders Entertainment on September 20. Born Leaders Entertainment, a company involved in the entertainment industry, will also become a user and Developer Co-Creation Officer for FF.

This partnership may lead to promotional opportunities, red carpet events, and VIP chauffeur services, potentially opening doors for future celebrity endorsements. The collaboration marks a step forward in FF's B2B business strategy. Matthias Aydt, Global CEO of FF, expressed excitement about welcoming another user to experience the FF 91 2.0 and participate in their user-focused Co-Creation sharing initiative.

Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) is hosting its second Brand Strategy and Global Automotive Industry Bridge Launch Event on September 19, 2024, at 17:00 PDT. The event will be held online via Zoom and livestreamed on various platforms. Key highlights include:

• Unveiling the FF Second Brand Strategy and next steps
• Showcasing interim achievements of the Global Automotive Industry Bridge Strategy
• Revealing results of the first-phase Co-Creation survey

Stockholders, fans, and media are invited to participate. The event offers an opportunity to interact directly with the FF team. A replay will be available on the company's website after the event.

Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) has announced a proposed settlement of stockholder derivative actions. The settlement involves multiple lawsuits alleging breaches of fiduciary duties by company executives between January 28, 2021, and April 14, 2022. As part of the settlement, Faraday Future agrees to implement and maintain corporate governance reforms for three years.

The company's insurers will pay $775,000 in attorneys' fees and expenses, subject to court approval. A settlement hearing is scheduled for November 4, 2024, to determine if the settlement is fair and reasonable. Current Faraday stockholders may object to the settlement by October 14, 2024, following specific procedures outlined in the notice.

Faraday Future (Nasdaq: FFIE) has secured $30 million in financing commitments from investors in the Middle East, United States, and Asia. This includes a $7.50 million previously funded amount and $22.50 million of new investment in convertible notes and warrants. The participation of Master Investment, an investment firm of Sheikh Abdulla Al Qassimi from Ras Al Khaimah, UAE, marks a significant milestone in FF's regional expansion.

The financing will support FF 91 2.0 production and product updates. FF is implementing a Global Automotive Industry Bridge Strategy and second brand approach, aiming to leverage AI and software technologies across multiple market segments. The company recently established a Middle Eastern sales entity in Dubai, expanding its global reach beyond the U.S. and China.

Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) has announced that it has regained compliance with all Nasdaq continued listing criteria. The company received written notice from Nasdaq confirming compliance with the bid price requirement (Listing Rule 5550(a)(2)) and the periodic filing requirement (Listing Rule 5250(c)(1)). As part of this compliance confirmation, FFIE will be subject to a mandatory panel monitor for one year until September 4, 2024. During this period, if the company falls out of compliance, Nasdaq will issue a non-compliance letter, and FFIE will need to request a new hearing on the matter.