Faraday Future Hosts Chinese Automotive Supplier Delegation at its HQ, Discussing Strategic Cooperation Opportunities with the Chinese Supply Chain
LOS ANGELES–(BUSINESS WIRE)–Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future,” “FF,” or “the Company”), a California-based global shared intelligent electric mobility ecosystem company, announced today that a delegation from China’s automotive supply chain representing more than ten enterprises visited the Company’s headquarters in Los Angeles. The delegation engaged in extensive discussions with several FF executives, including Global CEO Matthias Aydt and YT Jia, Founder and Chief Product & User Ecosystem Officer.
Representatives from leading automotive supply chain and manufacturing entities such as Shanghai Yida Air Conditioning, Shanghai Suce Software, Lucky Yundu Auto, Zhi Xing Automotive Technology, Kunshan Guoli Yuantong New Energy Technology, among others, participated in this visit. They discussed topics such as smart electric vehicle supply chains to China with FF’s executive team.
A video of the event can be viewed here: https://youtube.com/shorts/XOhQADe6Qqw?si=zMfIpOVFeXQTjamc
“Since the start of deliveries in 2023, the Company has consistently taken measures to reduce operational and supply chain costs in support of our strategic objectives. The delegation provided us with many insightful suggestions for supply chain management. We look forward to further discussions and collaborations in relevant areas,” stated Matthias Aydt.
“Chinese supply chain enterprises are integral components of the global automotive industry, especially in the AI EV sector. With respect to establishing FF’s supply chain in China, these supply chain enterprises are poised to play a key role in building FF’s dual-home strategy in China and the U.S., as well as potential expansion in the Middle East. FF, which is rooted in the United States, will also provide unique value to China and the global automotive industry chain,” expressed YT Jia.
The Delegation was jointly organized by Xuan Yuan Academy, the World New Auto Technology Collaboration Ecosystem Association, and China’s Automotive Industry Going Global Collaboration Council, in collaboration with the Shanghai Zhejiang Chamber of Commerce.
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 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: the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to remediate its material weaknesses in internal control over financial reporting; risks related to the restatement of the Company’s 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; increased operating expenses; incorrect assumptions and analyses developed by management; the market performance of the Company’s common stock; the Company ability to regain compliance with Nasdaq listing requirements; 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; 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 current and 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; the outcome of the Securities and Exchange Commission (“SEC”) investigation relating to the matters that were the subject of the Special Committee investigation; 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 manufacturers; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; general economic and market conditions impacting demand for the Company’s products; risks related to the Company’s operations in China; risks related to the Company’s stockholders who own a significant amount of the Company’s common stock; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; the ability of the Company to attract and retain directors and employees; any adverse developments in existing legal proceedings or the initiation of new legal proceedings; and volatility of the Company’s stock price. 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 Annual Report on Form 10-K/A for the year ended December 31, 2022 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, as well as the risk factors incorporated by reference in Item 8.01 of Form 8-K/A filed with the SEC on December 28, 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.
Contacts
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
