- Interactive day provided insight into FF’s product,
technology, operations and leadership
Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF” or
the “Company”), a California-based global shared intelligent
electric mobility ecosystem company, held an interactive Investor
Community Day at its Los Angeles HQ on July 20th. The event
highlighted the Company’s vehicle experience and executive team for
participants from around the globe. Included in the event was a
first-hand look into the Company’s operations, including the FF
design studio, 3D modeling lab, and R&D and vehicle service
facilities at its HQ, as well as the technology and software
development areas. Additionally, demonstrations with FF’s
engineering teams included experiencing the thrilling performance
and technological capabilities of the FF 91 2.0 EV.
You can view videos from the event here:
https://youtu.be/vUbLF-eQatQ
https://youtu.be/qmWPhbGQ2gI
The Investor Community Day provided a transparent inside look as
to where FF stands currently, as well as the Company’s future plans
in 2024 and beyond.
Executive leadership who presented included: Matthias Aydt,
Global CEO of FF, and YT Jia, FF Founder and Chief Product and User
Ecosystem Officer.
Fundamental takeaways that were communicated focused on the
Company’s core values and marketplace advantages and include: 1.
Unique Spire product power & All-Ability aiHypercar; 2.
Transformative technology power, the Ultimate AI TechLuxury FF
aiHyper 6x4 Architecture 2.0; 3. Spire brand power and a
one-of-a-kind futuristic logo; and 4. An exceptional innovative
user ecosystem and the ability to build such a system. In addition,
there was discussion about the FF Auto Industry Bridge Strategy,
which could replicate the idea of “double the performance at half
the price" and extreme price-experience ratio to the mass market.
This could include empowering a second brand with much of the core
technologies used on the $300,000 FF 91. The superior “light”
model’s advantage not only lies in the originality and swift
execution of the smaller teams, but also in focusing resources on
the core values of All AI, All Hyper, All Ability's disruptive
technology and product R&D.
“In my view, this first Investor Community Day was a huge
success,” said Mr. Aydt. “The entire FF organization wants to
express our sincere gratitude for these investors attending this
important day and for their ongoing support as we continue to push
forward with our dream to become the pioneer of the Ultimate AI
TechLuxury spire market in the AI EV era, and the disruptor of the
traditional ultra-luxury car civilization.”
“A second brand could strike in the mass market with volume
production, bringing everyone the ‘AI car of the future’ and the
‘AI car of the people’. We are preparing to launch the Bridge and
second brand strategies in a future event where we will share more
details and our progress. We are hopeful to set sail together in
the blue ocean market with potential partners,” said Mr. Jia.
FF plans to hold its Annual Meeting of Stockholders on July 31,
2024. FF kindly asks FF stockholders to vote FOR all
proposals. Your votes are critical for Faraday’s Future! If you
need help voting your shares or have any questions, please feel
free to visit the Company’s voting instruction website at
https://www.ff.com/us/Vote2024/ for English and
https://www.faradayfuturecn.com/cn/Toupiao2024/ for Chinese.
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 communication 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 intention to hold its
annual meeting, the Company’s growth strategy and the development
of the markets in which it operates, and the development of the FF
91, 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
continue as a going concern and improve its liquidity and financial
position; the Company’s ability to satisfy the conditions for
continued listing set forth by the Nasdaq Hearings Panel; the
possibility that stockholder approval for the reverse stock split
and/or the increase in authorized shares will not be obtained; the
possibility that factors unrelated to the reverse stock split may
impact the per share trading price of the Common Stock; the
Company’s ability to regain compliance with, and thereafter
continue to comply with, the Nasdaq listing requirements; the
ultimate decision of the Nasdaq Hearings Panel; 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 warrant 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; 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 China; the success of the Company’s remedial measures
taken in response to the Special Committee findings; the Company’s
dependence on its suppliers and contract manufacturer; the
Company’s ability to develop and protect its technologies; the
Company’s ability to protect against cybersecurity risks; the
ability of the Company to attract and retain employees; any adverse
developments in existing legal proceedings or the initiation of new
legal proceedings; and volatility of the Company’s stock price. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
Company’s Form 10-K filed with the Securities and Exchange
Commission (“SEC”) on May 28, 2024, as amended on May 30, 2024 and
June 24, 2024, and other documents filed by the Company from time
to time with the SEC.
Additional Information and Where to Find It
This communication may be deemed to be solicitation material in
connection with the proposals to be submitted to FF stockholders at
its annual meeting seeking, among other proposals, approval to
increase the number of authorized shares of common stock and to
authorize a reverse split and proportionate reduction of authorized
shares if the reverse stock split is implemented. In connection
with the authorized share increase and the reverse stock split and
proportionate reduction of authorized shares, the Company filed a
proxy statement filed with the Securities and Exchange Commission
(the “SEC”) on July 5, 2024 in connection with the Company’s
solicitation of proxies for the vote by the Company’s stockholders
with respect to the proposed authorized share increase, reverse
stock split and proportionate authorized share reduction proposals,
and other matters described therein. The proxy statement was mailed
to the Company’s stockholders on or around July 5, 2024. The proxy
statement includes information regarding the persons who may, under
SEC rules, be deemed participants in the solicitation of proxies in
connection with the proposed authorized share increase, reverse
stock split and proportionate authorized share reduction. The
Company has also filed other documents regarding the proposed
authorized share increase, reverse stock split and proportionate
authorized share reduction with the SEC. Before making any voting
decision, investors and security holders of the Company are urged
to read the proxy statement and all other relevant documents filed
or that will be filed with the SEC in connection with the proposed
authorized share increase, reverse stock split and proportionate
authorized share reduction as they become available because they
contain important information about these proposals.
Investors and security holders can obtain free copies of the
proxy statement and all other relevant documents the Company has
filed or will file with the SEC through the website maintained by
the SEC at www.sec.gov. In addition, the documents filed by the
Company may be obtained free of charge from the Company’s website
at https://www.ff.com/or by written request to Faraday Future
Intelligent Electric at 18455 S. Figueroa Street, Gardena,
California 90248.
Participants in the Solicitation
FF and its Board of Directors and executive officers may be
deemed to be participants in the solicitation of proxies from FF’s
stockholders in connection with the proposed authorized share
increase, reverse stock split and proportionate authorized share
reduction and other matters described in the proxy statement.
Information about the directors and executive officers of FF is set
forth in the proxy statement for its 2024 annual meeting of
stockholders, which was filed with the SEC on July 5, 2024.
Investors may obtain additional information regarding the interest
of FF and its directors and executive officers in the reverse stock
split proposal by reading the proxy statement relating to the
annual meeting. You may obtain free copies of these documents as
described in the preceding paragraph.
Certain representatives of FF Global Partners Investment LLC,
formerly FF Top Holding LLC (“FF Top”), and its indirect parent
entity FF Global Partners, LLC (“FF Global”), including, without
limitation, Jerry Wang and Weiwei Zhao (collectively, the “FF Top
Representatives”), are additional participants in the solicitation
of proxies in connection with the authorized share increase and the
reverse stock split and proportionate reduction of authorized
shares and other matters as described in the proxy statement.
Information regarding the direct and indirect interests in the
Company, by security holdings or otherwise, of FF Global, FF Top
and the FF Top Representatives is included in the proxy statement
and the Annual Report on Form 10-K for the year ended December 31,
2023, filed with the SEC on May 28, 2024, as amended by the Form
10-K/A filed with the SEC on May 30, 2024 and June 24, 2024.
Changes to the direct or indirect ownership of FF Top and FF Global
are set forth in SEC filings on Schedule 13D/A.
No Offer or Solicitation
This communication shall not constitute a proxy statement or
solicitation of a proxy, consent or authorization with respect to
any securities or in respect of the proposed reverse stock split or
authorized share cap. This communication shall also not constitute
an offer to sell or a solicitation of an offer to buy any
securities of FF, nor shall there be any sale of securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240722820053/en/
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
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