News Release

Marks the Resumption of the Start of Delivery Phase 2

LOS ANGELES--(BUSINESS WIRE)--Jun. 13, 2024-- Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that it delivered the latest FF 91 2.0 for prominent retail investor Jun He. The Chief Operating Officer of his U.S. branch accepted the vehicle at the delivery event which took place at the Company’s Los Angeles headquarters. Guests included FF Founder and Chief Product and User Ecosystem Officer YT Jia, who handed over the vehicle to Mr. He’s representative. This marks the resumption of the Start of Delivery Second Phase (SOD2) that began last year.

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FF Founder and Chief Product and User Ecosystem Officer YT Jia (Left) handed over the vehicle to Mr. He’s representative. (Photo: Business Wire)

During the delivery ceremony, FF presented key features of the FF 91 including the vehicle’s unique 3rd AI Space features. This includes an industry-first in-car aggregated sports streaming, financial news browsing and stock quotes. It brings a home living room experience into the FF 91 cabin. The car utilizes the first major over-the-air (OTA) upgrades for the FF 91 2.0, comprising 752 new additions and 846 improvements. These technology upgrades showcase a breakthrough in the FF’s user experience and Co-Creation value, while further reflecting the industry trends of "All-AI, All-Hyper, All-Ability.”

“We are extremely grateful for another owner to take delivery of our product which demonstrates that we have a supportive owner community as well as the product power of the FF 91 2.0 that users aim to acquire,” said Matthias Aydt, Global CEO of FF. YT Jia stated, “FF is considering introducing a second brand under our ‘US-China Automotive Industry Bridge Strategy’, which could seek to integrate our high-value solutions and features into vehicles in a more affordable mass market product segment, which would enable more retail investors to enjoy our ‘Ultimate AI TechLuxury’ in the future.”

Users can preorder an FF 91 2.0 vehicle via the FF Intelligent App or through ff.com:

(English): https://www.ff.com/us/preorder/
(Chinese): https://www.ff.com/cn/preorder/

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.

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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 statements regarding the Company’s planned financings, growth strategy in the U.S., China and the Middle East, and the Company’s leasing program, 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 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; the Company’s ability to use its “at-the-market” program; 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; and 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 and other documents filed by the Company from time to time with the SEC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240612895782/en/

Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com

Source: Faraday Future Intelligent Electric Inc.