The Countdown Begins to FF 91 Futurist Production Start

Rhea-AI Summary

Faraday Future Intelligent Electric Inc. (FFIE) has initiated a six-day countdown to the start of production (SOP) for the FF 91 Futurist, set for March 29, 2023. This milestone is celebrated with a streaming event from its California factory. FF aims to revolutionize the automotive industry with the FF 91, featuring cutting-edge technology and luxury specifications, including 1,050 horsepower and an EPA-certified range of 381 miles. The final launch event is scheduled for April 26, 2023, ahead of first deliveries. CEO Xuefeng Chen expressed gratitude to suppliers for their support as the company approaches this significant achievement.

Positive

• Start of production (SOP) for the FF 91 Futurist on March 29, 2023.
• FF 91 Futurist features advanced specs: 1,050 horsepower, 381 miles range, 0-60 mph in 2.27 seconds.
• Final launch event planned for April 26, 2023, indicating progress towards vehicle deliveries.

Negative

• None.

• FF kicks off a six-day countdown campaign today towards the start of production (SOP) for the FF 91 Futurist on March 29, 2023
• Company will host a SOP event for the FF 91 Futurist at its FF ieFactory California on March 29, 2023, and will concurrently stream the live SOP event online.
• The Company will also hold its final launch event for the FF 91 Futurist on April 26, 2023 ahead of first deliveries to FF users

LOS ANGELES--(BUSINESS WIRE)-- Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) ("Faraday Future", “FF” or "Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced the start of its six-day countdown to the start of production (SOP) of its Ultimate Intelligent TechLuxury FF 91 Futurist, which occurs on March 29, 2023. The countdown event can be found on http://www.ff.com, as well as the FF Intelligent APP, and will be updated daily.

Faraday Future kicks off a six-day countdown campaign today towards the start of production (SOP) for the FF 91 Futurist on March 29, 2023 (Graphic: Business Wire)

SOP on March 29, 2023 will mark the final manufacturing milestone (#7) of the FF 91 Futurist. It marks the culmination of all the hard work, dedication and determination from the hundreds of FF employees that have strived to make a difference since the Company was founded in 2014.

The Company has had one goal since its inception, and that is to bring a product to market that will disrupt the traditional automotive industry with its new vision of mobility. During that period, the Company has created major innovations in technology and product, as well as a user centered business model. These innovations are enabling FF to set new standards in luxury and performance that will enhance quality of life and redefine the future of intelligent mobility.

“We have made great strides in recent months getting to this SOP milestone, with the thanks to our dedicated team, supportive investors and suppliers,” said Xuefeng Chen, Global CEO of Faraday Future. “I’m excited to finally see the culmination of many years of hard work, all focused on our one goal, bringing the Ultimate Intelligent TechLuxury FF 91 Futurist to market.”

The Company is grateful to FF’s global suppliers as it approaches this historical SOP achievement, for their deep insight and persistent belief in FF's disruptive product. The FF 91 showcases our Ultimate Intelligent TechLuxury brand positioning, revolutionary advanced technology, and the Company's long-term value. The understanding and determination of FF’s global suppliers are at the cornerstone of FF’s goal to change the traditional auto industry and build a future mobility ecosystem.

Competing with Ferrari, Maybach, Rolls Royce, and Bentley, as the only next-gen Ultimate Intelligent TechLuxury EV product, the FF 91 Futurist puts forward a unique and intelligent EV experience with extreme technology, and an ultimate user experience. The FF 91 Futurist features an industry-leading 1,050 horsepower, an EPA-certified range of 381 miles, 0-60 mph in 2.27 seconds, a unique rear intelligent Internet system, and a revolutionary user experience designed to create a mobile, connected, intelligent, and luxurious third Internet living space and user mobility ecosystem platform.

Users can preorder an FF 91 Futurist via the FF Intelligent App or through our website (English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/

Download the new FF Intelligent App (English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online,

(Chinese): http://appdownload.ff.com

ABOUT FARADAY FUTURE

FF is the pioneer of the Ultimate Intelligent TechLuxury ultra spire market in the intelligent EV era, and a disruptor of the traditional ultra-luxury car civilization. FF is not just an EV company, but also a software-driven company of intelligent internet AI product.

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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, which include, among other things, statements regarding the anticipated start of production (SOP) and delivery timing for our FF 91 Futurist vehicle, additional funding and timing for receipt thereof, 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 whether the Amended Shareholder Agreement between the Company and FF Top, dated as of January 13, 2023, complies with the listing requirements of The Nasdaq Stock Market LLC, the market performance of the shares of the Company’s common stock; the Company’s ability to regain compliance with, and thereafter continue to comply with, the Nasdaq listing requirements; the Company’s ability to satisfy the conditions precedent and close on the various financings previously disclosed by the Company and any future financings, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s ability to amend its certificate of incorporation to permit sufficient authorized shares to be issued in connection with the Company’s existing and contemplated financings; whether the Company and the City of Huanggang could agree on definitive documents to effectuate the non-binding Cooperation Framework Agreement; the Company’s ability to remain in compliance with its public filing requirements under the Securities Exchange Act of 1934, as amended; the outcome of the SEC investigation relating to the matters that were the subject of the Special Committee investigation and other litigation involving the Company; 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 success of other competing manufacturers; the performance and security of the Company’s vehicles; potential litigation involving the Company; the result of future financing efforts and general economic and market conditions impacting demand for the Company’s products; recent cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; and the ability of the Company to attract and retain directors and employees. 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 Company’s registration statement on Form S-1 filed on March 17, 2023, and other documents filed by the Company 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 the Company 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.

ADDITIONAL INFORMATION

In connection with the special and annual stockholder’s meetings, the Company has filed with the SEC definitive proxy statements on Schedule 14A with respect to the proposals therein (as amended and supplemented, the “Proxy Statements”). Faraday Future commenced mailing of the Proxy Statements to its stockholders on March 3, 2023 and March 17, 2023, respectively. This press release is not a substitute for the Proxy Statements or any other document which the Company may file with the SEC. INVESTORS AND FARADAY FUTURE’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENTS IN THEIR ENTIRETY AND ANY OTHER DOCUMENTS FILED BY THE COMPANY WITH THE SEC IN CONNECTION WITH THE PROXY STATEMENTS OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSALS IN THE PROXY STATEMENTS. Investors and stockholders may obtain free copies of the Proxy Statements and other documents containing important information about Faraday Future that are filed or will be filed with the SEC by Faraday Future from the SEC’s website at www.sec.gov. Faraday Future makes available free of charge at www.ff.com (in the “Financials and Filings” section), copies of materials it files with, or furnish to, the SEC.

PARTICIPANTS IN SOLICITATION

Faraday Future and its respective directors and executive officers and certain Company investors and their representatives may be deemed participants in the solicitation of proxies of the Company’s stockholders in respect of the proposals in the Proxy Statements. Information about the directors and executive officers of Faraday Future, such investors and their representatives and their ownership is set forth in the Company’s filings with the SEC, including the Proxy Statements. These documents can be obtained free of charge from the sources specified above.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230323005369/en/

Investors (English): ir@faradayfuture.com

Investors (Chinese): cn-ir@faradayfuture.com

Media: john.schilling@ff.com

Source: Faraday Future Intelligent Electric Inc.

FAQ

What is the start of production date for the FF 91 Futurist?

The start of production (SOP) for the FF 91 Futurist is on March 29, 2023.

When will Faraday Future hold its final launch event for the FF 91?

The final launch event for the FF 91 Futurist is scheduled for April 26, 2023.

What are the key features of the FF 91 Futurist?

The FF 91 Futurist boasts 1,050 horsepower, an EPA-certified range of 381 miles, and can accelerate from 0-60 mph in 2.27 seconds.

Where will the start of production event be held?

The start of production event will be held at the FF ieFactory in California.

How can users preorder the FF 91 Futurist?

Users can preorder the FF 91 Futurist through the FF Intelligent App or on the company's website.