UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 8, 2022
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
(310 ) 415-4807
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD.
On June 8, 2022, Faraday Future Intelligent Electric Inc. (the “Company”) issued an investor presentation to be used in upcoming conversations with various investors. A copy of the investor presentation is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
In addition, the Company posted a copy of the investor presentation on its website at www.investors.ff.com.
The information in this Current Report on Form 8-K is being furnished pursuant to Item 7.01 Regulation FD. In accordance with General Instruction B.2 of Form 8-K, the information in this report shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly stated by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K:
No. | Description of Exhibits | |||||||
99.1 | ||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
1
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FARADAY FUTURE INTELLIGENT ELECTRIC INC. | ||||||||
| Date: June 8, 2022 | By: | /s/ Becky Roof | ||||||
Name: | Becky Roof | |||||||
Title: | Interim Chief Financial Officer | |||||||
2
Faraday Future Intelligent Electric Inc. Management Presentation June 2022 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL
© 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 1 Legal D isc la imers F o r w a r d L o o k i n g S t a t e m e n t s T h i s p r e s e n t a t i o n i n c l u d e s “ f o r w a r d - l o o k i n g s t a t e m e n t s ” w i t h i n t h e m e a n i n g o f t h e “ s a f e h a r b o r ” p r o v i s i o n s o f t h e U n i t e d S t a t e s P r i v a t e S e c u r i t i e s L i t i g a t i o n R e f o r m A c t o f 1 9 9 5 . W h e n u s e d i n t h i s p r e s e n t a t i o n , t h e w o r d s “ e s t i m a t e s , ” “ p r o j e c t e d , ” “ e x p e c t s , ” “ a n t i c i p a t e s , ” “ f o r e c a s t s , ” “ p l a n s , ” “ i n t e n d s , ” “ b e l i e v e s , ” “ s e e k s , ” “ m a y , ” “ w i l l , ” “ s h o u l d , ” “ f u t u r e , ” “ p r o p o s e ” a n d v a r i a t i o n s o f t h e s e w o r d s o r s i m i l a r e x p r e s s i o n s ( o r t h e n e g a t i v e v e r s i o n s o f s u c h w o r d s o r e x p r e s s i o n s ) a r e i n t e n d e d t o i d e n t i f y f o r w a r d - l o o k i n g s t a t e m e n t s , a n d i n c l u d e ( a m o n g o t h e r s ) s t a t e m e n t s r e g a r d i n g t h e e x p e c t e d t i m i n g o f t h e l a u n c h o f F F 9 1 a n d F F 8 1 v e h i c l e s a n d a n t i c i p a t e d p r o d u c t i o n c a p a c i t y o f t h e C o m p a n y ’ s H a n f o r d , C a l i f o r n i a f a c i l i t y . T h e s e f o r w a r d - l o o k i n g s t a t e m e n t s a r e n o t g u a r a n t e e s o f f u t u r e p e r f o r m a n c e , c o n d i t i o n s o r r e s u l t s , a n d i n v o l v e a n u m b e r o f k n o w n a n d u n k n o w n r i s k s , u n c e r t a i n t i e s , a s s u m p t i o n s a n d o t h e r i m p o r t a n t f a c t o r s , m a n y o f w h i c h a r e o u t s i d e t h e C o m p a n y ’ s c o n t r o l , t h a t c o u l d c a u s e a c t u a l r e s u l t s o r o u t c o m e s t o d i f f e r m a t e r i a l l y f r o m t h o s e d i s c u s s e d i n t h e f o r w a r d - l o o k i n g s t a t e m e n t s . I m p o r t a n t f a c t o r s , a m o n g o t h e r s , t h a t m a y a f f e c t a c t u a l r e s u l t s o r o u t c o m e s i n c l u d e t h e o u t c o m e o f t h e S E C i n v e s t i g a t i o n r e l a t i n g t o t h e m a t t e r s t h a t w e r e t h e s u b j e c t o f t h e S p e c i a l C o m m i t t e e i n v e s t i g a t i o n ; t h e i m p l e m e n t a t i o n o f t h e S p e c i a l C o m m i t t e e ’ s a c t i o n s a n d r e l a t e d i n t e r n a l r e v i e w b y t h e C o m p a n y ; t h e C o m p a n y ’ s a b i l i t y t o e x e c u t e o n i t s p l a n s t o d e v e l o p a n d m a r k e t i t s v e h i c l e s a n d t h e t i m i n g o f t h e s e d e v e l o p m e n t p r o g r a m s ; t h e C o m p a n y ’ s e s t i m a t e s o f t h e s i z e o f t h e m a r k e t s f o r i t s v e h i c l e s a n d c o s t t o b r i n g t h o s e v e h i c l e s t o m a r k e t ; t h e r a t e a n d d e g r e e o f m a r k e t a c c e p t a n c e o f t h e C o m p a n y ’ s v e h i c l e s ; t h e s u c c e s s o f o t h e r c o m p e t i n g m a n u f a c t u r e r s ; t h e p e r f o r m a n c e a n d s e c u r i t y o f t h e C o m p a n y ’ s v e h i c l e s ; p o t e n t i a l l i t i g a t i o n i n v o l v i n g t h e C o m p a n y ; t h e r e s u l t o f f u t u r e f i n a n c i n g e f f o r t s a n d g e n e r a l e c o n o m i c a n d m a r k e t c o n d i t i o n s i m p a c t i n g d e m a n d f o r t h e C o m p a n y ’ s p r o d u c t s ; a n d t h e a b i l i t y o f t h e C o m p a n y t o a t t r a c t a n d r e t a i n e m p l o y e e s . T h e f o r e g o i n g l i s t o f f a c t o r s i s n o t e x h a u s t i v e . Y o u s h o u l d c a r e f u l l y c o n s i d e r t h e f o r e g o i n g f a c t o r s a n d t h e o t h e r r i s k s a n d u n c e r t a i n t i e s d e s c r i b e d i n t h e a p p e n d i x o f t h i s p r e s e n t a t i o n a n d t h e “ R i s k F a c t o r s ” s e c t i o n o f t h e C o m p a n y ’ s A n n u a l R e p o r t o n F o r m 1 0 - K f o r t h e y e a r e n d e d D e c e m b e r 3 1 , 2 0 2 1 , a n d o t h e r d o c u m e n t s f i l e d b y t h e C o m p a n y f r o m t i m e t o t i m e w i t h t h e S E C . T h e s e f i l i n g s i d e n t i f y a n d a d d r e s s o t h e r i m p o r t a n t r i s k s a n d u n c e r t a i n t i e s t h a t c o u l d c a u s e a c t u a l e v e n t s a n d r e s u l t s t o d i f f e r m a t e r i a l l y f r o m t h o s e c o n t a i n e d i n t h e f o r w a r d - l o o k i n g s t a t e m e n t s . F o r w a r d - l o o k i n g s t a t e m e n t s s p e a k o n l y a s o f t h e d a t e t h e y a r e m a d e . R e a d e r s a r e c a u t i o n e d n o t t o p u t u n d u e r e l i a n c e o n f o r w a r d - l o o k i n g s t a t e m e n t s , a n d t h e C o m p a n y d o e s n o t u n d e r t a k e a n y o b l i g a t i o n t o u p d a t e o r r e v i s e a n y f o r w a r d - l o o k i n g s t a t e m e n t s , w h e t h e r a s a r e s u l t o f n e w i n f o r m a t i o n , f u t u r e e v e n t s o r o t h e r w i s e , e x c e p t a s r e q u i r e d b y l a w . T h e s e f o r w a r d - l o o k i n g s t a t e m e n t s s h o u l d n o t b e r e l i e d u p o n a s r e p r e s e n t i n g F a r a d a y ’ s a s s e s s m e n t s a s o f a n y d a t e s u b s e q u e n t t o t h e d a t e o f t h i s p r e s e n t a t i o n . A c c o r d i n g l y , u n d u e r e l i a n c e s h o u l d n o t b e p l a c e d u p o n t h e f o r w a r d - l o o k i n g s t a t e m e n t s . N o O f f e r o r S o l i c i t a t i o n T h i s p r e s e n t a t i o n d o e s n o t c o n s t i t u t e a n o f f e r t o s e l l o r t h e s o l i c i t a t i o n o f a n o f f e r t o b u y a n y s e c u r i t i e s , n o r s h a l l t h e r e b e a n y s a l e o f s e c u r i t i e s i n a n y j u r i s d i c t i o n i n w h i c h s u c h o f f e r , s o l i c i t a t i o n o r s a l e w o u l d b e u n l a w f u l p r i o r t o r e g i s t r a t i o n o r q u a l i f i c a t i o n u n d e r t h e s e c u r i t i e s l a w s o f a n y s u c h j u r i s d i c t i o n . T h i s p r e s e n t a t i o n d o e s n o t c o n s t i t u t e e i t h e r a d v i c e o r a r e c o m m e n d a t i o n r e g a r d i n g a n y s e c u r i t i e s . A n y o f f e r t o s e l l s e c u r i t i e s w i l l b e m a d e o n l y p u r s u a n t t o a d e f i n i t i v e s u b s c r i p t i o n a g r e e m e n t a n d w i l l b e m a d e i n r e l i a n c e o n a n e x e m p t i o n f r o m r e g i s t r a t i o n u n d e r t h e S e c u r i t i e s A c t o f 1 9 3 3 , a s a m e n d e d , f o r o f f e r s a n d s a l e s o f s e c u r i t i e s t h a t d o n o t i n v o l v e a p u b l i c o f f e r i n g . F a r a d a y r e s e r v e s t h e r i g h t t o w i t h d r a w o r a m e n d f o r a n y r e a s o n a n y o f f e r i n g a n d t o r e j e c t a n y s u b s c r i p t i o n a g r e e m e n t f o r a n y r e a s o n . T h e c o m m u n i c a t i o n o f t h i s p r e s e n t a t i o n i s r e s t r i c t e d b y l a w ; i t i s n o t i n t e n d e d f o r d i s t r i b u t i o n t o , o r u s e b y a n y p e r s o n i n , a n y j u r i s d i c t i o n w h e r e s u c h d i s t r i b u t i o n o r u s e w o u l d b e c o n t r a r y t o l o c a l l a w o r r e g u l a t i o n . T r a d e m a r k s T h i s p r e s e n t a t i o n c o n t a i n s t r a d e m a r k s , s e r v i c e m a r k s , t r a d e n a m e s a n d c o p y r i g h t s o f F a r a d a y a n d o t h e r c o m p a n i e s , w h i c h a r e t h e p r o p e r t y o f t h e i r r e s p e c t i v e o w n e r s .
© 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 2 Today’s Speaker Dr. Carsten Breitfeld Global CEO • Automotive industry executive with 25+ years of experience • Served 10+ years as Group Vice President and Head of i8 vehicle program at BMW • Co-founded and served as Chairman and CEO of BYTON Dr. Breitfeld is a world-renowned expert in electric mobility with a Ph.D. in mechanical engineering from the University of Hannover. Dr. Breitfeld is a veteran in the automotive industry and held various positions with BMW Group for approximately 20 years, including serving as its Group Vice President and Head of the i8 Vehicle Program, which developed the i8 luxury plug-in hybrid model. His leadership helped launch the BMW i8 successfully in just 38 months. The model surpassed vehicle standards in performance, materials used, efficiency of development, and set new benchmarks in the auto industry. From July 2016 to January 2019, Dr. Breitfeld was the Co-Founder, Chief Executive Officer, and Chairman of the Board of BYTON, a Chinese electric vehicle startup with operations in multiple countries.
© 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 3 Note: All statements shown reflect expected performance / capabilities for production ready vehicles. Actual performance / capabilities may be different. Please see Risk Factors within the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. (1) VPA = Variable Platform Architecture. (2) NEDC refers to the New European Driving Cycle emissions and fuel consumption measurements. (3) SLMD = Smart Last Mile Delivery. Faraday Future: A Story of Perseverance & Progress Product Portfolio: FF 91 SERIES — First production vehicle and flagship model — Class defining luxury, performance, technology, connectivity and personalized user experience — 3 motor FF 91 Futurist with ~350 miles EPA range, ~720 km NEDC range(2) — 2 motor FF 91 standard with ~370 miles EPA range, ~780 km NEDC Range(2) — 3 motor FF 91 Futurist 0-60 mph in <2.5 sec FF 81 SERIES — Premium, mass-market electric vehicle — >60% parts commonality with FF 91 — Designed for high volume manufacturing FF 71 SERIES — Mass-market vehicle — Industry-leading connectivity, technology and interior configurations SMART LAST MILE DELIVERY — SLMD(3) is purpose-built for advanced logistics companies — Platform approach allows rapid speed to market Company Overview: Company History: Founded in 2014 with a unique vision for the future of mobility Headquarters: Los Angeles, CA Global Employees: ~745 employees; ~500 in the US; ~450 global engineers Intellectual Property: Technological and competitive differentiation independently verified by third party consultant research; technology protected through ~650 issued patents Hybrid Manufacturing Strategy: — 1.1 million square foot manufacturing facility in Hanford, CA — Contract manufacturing agreement in South Korea with Myoung Shin — Assessing alternatives for a future Chinese manufacturing presence Dual Home Markets: Deep cultural roots in both US and China provide competitive advantage across two of the largest EV markets Direct Sales Approach: Online with targeted in-person experience centers across target markets such as US, China, Europe, etc. (first center in Beverly Hills, CA set to open in late 2022), and FF partner stores Built Leveraging the FF VPA Platform(1)
4 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL Select Features — 3 motor FF 91 Futurist with ~350 miles EPA range, ~720 km NEDC range(1) — 2 motor FF 91 with ~370 miles EPA range, ~780 km NEDC Range(1) — 0-60 mph in <2.5 sec (3 motor FF 91 Futurist) — 1,050 hp (3 motor configuration) — DC fast-charging capability among industry leaders — All-wheel drive, all-wheel steering, and torque vectoring(2) Driven by Industry-Leading Performance and Luxury — Mobile connectivity powered by three 5G Modems — NASA-inspired Zero Gravity seats with industry-leading 60° recline — Over 100” of high-resolution viewing area across 11 displays — Designed to fully comply with US, European and Chinese safety and regulatory standards Note: All statements shown reflect expected performance / capabilities for production ready vehicles. Actual performance / capabilities may be different. Please see Risk Factors within the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. (1) NEDC refers to the New European Driving Cycle emissions and fuel consumption measurements weighed to calculate vehicle range. (2) All-wheel steering and torque vectoring reflect post-launch upgrades.
5 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL Built Around Performance and Comfort that Stands Out vs. The Competition Source: Based on passenger car data provided on company websites, auto industry resources (carbuzz, autoweek, cnet, motor authority, EV specifications, Car & Driver) and media releases as of May 18, 2022. Note: All statements shown reflect expected performance / capabilities for production ready vehicles. Actual performance / capabilities may be different. Please see Risk Factors within the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. (1) Stated recline angle for Lucid’s Executive Seats ~55-degrees, however, reclining capability has yet to be officially released for consumer purposes. 0 to 60 mph (seconds)Horsepower 35.5 37.4 37.6 38.7 39.1 39.3 40.9 48.9 49.1 S Maybach Model S FF 91 E-TRON 55 QUATTROAlpina XB7 BentaygaRange RoverModel X Rear Leg Room (inches) FF 917 SeriesBentayga S Maybach Phantom Model S Plaid / X Taycan Rear Seat Recline Angle (degrees) Fixed Fixed NA(1) 27 40 43 43 60 FF 91Model X Plaid FF 91 Model X Plaid Air Dream Edition 1,1111,0501,020 <2.52.5 Air Dream Edition <2.5 FF 91 one of only three consumer EV brands with 1,000+ horsepower FF 91 one of only two consumer EVs with 0 – 60 time <2.5 secs despite weighing ~1k+ lbs more than peers Air Dream Edition Air Dream Edition U n ri va le d C o m fo rt T o p T ie r P e rf o rm a n c e Est. Curb Weight: 5,282 Est. Curb Weight: 6,314 Est. Curb Weight: 5,594
6 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL Revolutionary and Immersive Driving Experience... Coupled with an Unsurpassed Passenger Experience Note: All statements shown reflect expected performance / capabilities for production ready vehicles. Actual performance / capabilities may be different. Please see Risk Factors within the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. (1) FFID is a unique Faraday Future user profile that ensures a consistent experience across the FF Ecosystem, recognizing the user no matter where they are or which FF vehicle they are driving. (2) Super Mobile AP consists of 3 modems to realize aggregated high Internet speed and great coverage by multi carriers. I n t h e d r i v e r ’ s s e a t : – S i x d r i v e r - s p e c i f i c s c r e e n s i n c l u d i n g a n u l t r a - l a r g e h e a d s - u p d i s p l a y a n d s l i m i n s t r u m e n t c l u s t e r – O n - s c r e e n g e s t u r i n g w i t h a s w i p e o f y o u r f i n g e r s a c r o s s t h e C e n t e r I n f o r m a t i o n D i s p l a y f o r d i s t r a c t i o n - f r e e d r i v i n g – V o i c e - f i r s t f o u n d a t i o n s u p p o r t i n g c o m p l e x c o m m a n d s ➢ “ F i n d m e a r e s t a u r a n t n e a r P a l o A l t o w i t h 5 - s t a r r a t i n g s a n d o u t d o o r s e a t i n g ” I n t h e p a s s e n g e r s e a t s : – F a c i a l r e c o g n i t i o n i n e a c h s e a t i n g z o n e a u t o m a t i c a l l y l o a d s F F I D ( 1 ) p r o f i l e s a n d u s e r - s p e c i f i c p e r s o n a l p r e f e r e n c e s – M o b i l e c o n n e c t i v i t y p o w e r e d b y S u p e r M o b i l e A P ( t h r e e m o d e m s ) ( 2 ) – 1 7 " f r o n t p a s s e n g e r s c r e e n a n d a n i m m e r s i v e 2 7 " r e a r p a s s e n g e r d i s p l a y , a l l o w i n g u s e r s t o s t r e a m t h e i r f a v o r i t e m o v i e s , T V s h o w s a n d l i v e s p o r t s w h i l e F F 9 1 i s i n m o t i o n w i t h o u t d r i v e r d i s t r a c t i o n
7 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 1 2 3 Highly Differentiated Technology Position Variable Platform Architecture (VPA) Differentiated In-House Propulsion Technology Uncompromising Driving & Passenger Experience — Provides >60% component carryover — Increased speed to market — Significant cost savings — Ease of scalability — Manufacturing flexibility — Easy servicing capability — Adaptable to multiple models — Superior hardware & software supported by in-house OS — Voice first user experience — Adaptive learning through AI — 100”+ of screens, including 27” rear screen — 60-degrees rear seat recline — Equipped with full 360˚ sensor coverage to support ADAS features when released — High battery pack gravimetric energy density (185 Wh/kg) – State-of-the-art cell-to-pack tech to cell-to-pack technology – 142 kWh battery pack size (one of the largest in the industry) — A leading electric drive system (3.8 kW/kg power-to-weight ratio for rear drive unit) — Patented motor and inverter technology Sets Foundation for Future Vehicles Yields Uncompromising Power & Range Enables Unprecedented “TechLuxury” Ecosystem Note: All statements shown reflect expected performance / capabilities for production ready vehicles. Actual performance / capabilities may be different. Please see Risk Factors within the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
8 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL The FF 91 Will Set the Foundation for our Future Vehicles and Start to Unlock a $300bn+ TAM Vehicle FF 91 Futurist FF 91 FF 81 Futurist FF 81 FF 71 Futurist FF 71 Segment E/F Segment D/E Segment C/D Segment Target Pricing(1) From $180,000 From $120,000 From $95,000 From $74,000 From $75,000 From $45,000 Competitive Set • MB Maybach • Bentley Bentayga • Lamborghini Urus • Ferrari Purosangue • MB S-Class • Porsche Taycan • Audi E8 e-tron • MB G/GL/GLS • BMW 7 Series • Lucid Air • Tesla Model S/X • BMW X5 • Range Rover Sport • Land Rover Discovery • BMW 5-Series • NIO ES8/ES6 • MB E-Class • Rivian R1S • Jaguar J-Pace • Porsche Macan • BMW 3-Series • BMW X3 • MB GLC • Jaguar I-Pace • Range Rover Velar • Tesla Model 3/Y • MB C-Class • MB EQC 2025 Global Vehicle TAM(2) ~$53.0bn ~$93.0bn ~$170.6bn Source: Q1-2022 LMC forecasts. Note: FF 91 Futurist Alliance Limited Edition vehicles will be priced at $250,000. (1) Target pricing as per 2021 10-K; specific pricing will be refined and finalized closer to the start of delivery for each vehicle. (2) 2025 Global Vehicle TAM calculated based on LMC Automotive global production forecasts for vehicles listed within each competitive set multiplied by the median target pricing per FF vehicle series. >60% Parts Commonality ~$300bn+ Total Addressable Market (“TAM”) by 2025
9 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL Supported by a Hybrid Asset-Light Manufacturing Strategy Self-Run Manufacturing Facility for FF 91 Hanford,CA, USA Contract Manufacturing for FF 81 series Gunsan, South Korea China production and FF China headquarters Location in China TBD Factory opening Pilot Lines Operational / July 2022 Opening (expected) 2024 Launch (expected) 2025+ (expected) Total factory capacity ~10,000 vehicles per year (expected) Capacity reserved for target FF 81 volumes Targeting China FF 81 and FF 71 demand Models produced FF 91 FF 81 TBD Key highlights ➢ 1.1 million square-feet manufacturing facility (long term lease) ➢ Renovated an existing facility which reduced cost and lead time ➢ Extensive use of virtual manufacturing capabilities to validate operations ➢ In-house pre-production validation ensures a smooth production ramp-up ➢ Signed agreement in February 2022 with Myoung Shin for manufacture of future vehicles ➢ Production to be launched in former GM plant with limited upfront investment from FF ➢ Leverages ramp experience from FF 91 ➢ Benefits from advantaged tariff position of South Korea for exports to key target markets ➢ Studying various options for local Chinese production ➢ Opportunities for reduction in costs and supply chain complexity and lead times ➢ Opportunity for more rapid and extensive product customization for local market Low Volume in-house manufacturing ideal for controlling production processes to ensure quality and stability High volume minimal investment contract manufacturing strategy for mass production models
10 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL Manufacturing Update | FF 91 Coming to Life as Hanford Nears Completion – P r e - p r o d u c t i o n v e h i c l e b u i l d s u n d e r w a y a t H a n f o r d f o r f i n a l e n g i n e e r i n g v a l i d a t i o n a n d c e r t i f i c a t i o n a h e a d o f d e l i v e r i e s – 9 0 % o f p r o d u c t i o n e q u i p m e n t h a s b e e n d e l i v e r e d t o H a n f o r d – O n - t r a c k t o b e g i n d e l i v e r i e s i n Q 3 2 0 2 2 – A l l o w s f o r q u a l i t y c o n t r o l o v e r f i r s t m o d e l ; c r i t i c a l f o r l o n g - t e r m v a l u e p r o p o s i t i o n – L o w - v o l u m e m a n u f a c t u r i n g a l l o w s f o r p r o d u c t i o n f l e x i b i l i t y a n d i n c r e a s e d q u a l i t y c o n t r o l o f F F 9 1 – e s s e n t i a l a t t a r g e t p r i c e p o i n t – P r o v i d e s p l a t f o r m t o t e s t a n d v a l i d a t e c o r e v e h i c l e I P – L e a r n i n g s s e t f o u n d a t i o n f o r f u t u r e m o d e l s ✓ Hanford Facility Producing Production-Intent Vehicles Today – Scaled Production in Sight Why Self-Production at Hanford is Core to Our Strategy ✓ ✓ ✓
11 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL W W W . F F . C O M