Faraday Future Secures Major Pre-Orders for FX Super One MPV, Signaling Strong Market Demand

What's Going On With Faraday Future Stock On Monday? - Faraday Future (NASDAQ:FFAI)

Feel unsure about the market's next move? Copy trade alerts from Matt Maley -- a Wall Street veteran who consistently finds profits in volatile markets. Claim your 7-day free trial now. Faraday Future Intelligent Electric Inc. FFAI on Sunday, disclosed a new binding pre-order agreement for 300 units with a non-refundable $30,000 deposit from Sky Horse Auto LLC. Sky Horse will be a co-creation partner, delivering the "First Class AI-MPV experience." The FX Super One MPVs will join Sky Horse's premium fleet for leisure and business travelers, deployed mainly across key West Coast markets (Orange County, Los Angeles, San Francisco, Las Vegas) for luxury self-drive and chauffeur services. Also Read: FF Open AI Day: Faraday Future Launches AIHER, Aims To Revolutionize EV And Hybrid Powertrains The FX Super One, an affordable mass market EV, is slated for initial production by late 2025. Faraday Future targets tens of thousands of FX sales within two years of production, pending necessary agreements and funding. The FX Super One is expected to be unveiled in June 2025, with non-binding paid reservations to follow. Development of two additional potential FX models is underway. The company's FX brand strategy targets "four blue ocean markets" in the U.S. AIEV sector: range-extended vehicles, intelligent vehicles (mobile living spaces), and affordable AIEVs priced between $20,000 and $40,000. YT Jia, Founder and Co-Global CEO of Faraday Future added, "We are both proud and excited to assist them with helping them grow their fleet and business with cutting edge and innovative vehicles that will serve their clientele with the utmost in comfort, innovation, technology, performance and with the quality and reliability they have come to expect with their entire fleet." This announcement follows last week's announcement of a signing its first binding business-to-business (B2B) pre-order agreement, including a non-refundable deposit and a non-binding reservation for 1,000 units of its upcoming FX Super One MPV. Last month, at the company's recent "FF Stockholder Community and FX Co-Creation Day" in Los Angeles, the company outlined strategic goals including launching the first FX model by end of 2025, achieving positive gross margin and operating cash flow and pursuing global AI and AIEV M&A initiatives. Price Action: FFAI shares are down 1.09% to $1.16 at the last check on Monday. Read Next: Faraday Future Enters East Coast Market With NYC FF 91 2.0 Delivery FFAIFaraday Future Intelligent Electric Inc$1.15-1.71%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value10.45Price TrendShortMediumLongOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

FF Signs First B2B Pre-order Agreement for 1,000 Units of FX Super One, Achieving Initial Success in Global Automotive Industry Strategy - Faraday Future (NASDAQ:FFAI)

Early market traction underscores strong market demand and momentum, confirms long-term strategy ahead of the first official FX product launch this June, securing recognition from an East Coast business validates FF's unique "Three Pillars" model of user acquisition, co-creation, and user operations. Faraday Future Intelligent Electric Inc. FFAI ("Faraday Future", "FF" or the "Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has signed the first binding business-to-business (B2B) pre-order agreement, which includes a non-refundable deposit and a non-binding reservation for 1,000 units of the Company's highly anticipated FX model, the Super One MPV (Multi-purpose vehicle). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250429222401/en/ FF Signs First B2B Pre-order Agreement for 1,000 Units of FX Super One, Achieving Initial Success in Global Automotive Industry Strategy The pre-order was placed by New York City-based automotive dealership, 129 Auto Sales Corp., doing business as JC Auto. It is paying a $100,000 non-refundable deposit, which can be used toward the purchase of FX vehicles, to secure priority delivery of up to 300 FX vehicles, subject to an additional payment. This reservation reflects positive market feedback in the U.S., including by East Coast users. JC Auto plans to establish a premium fleet of up to 300 vehicles that covers the New York area using the FX Flagship model, Super One MPV. The remaining reserved vehicles would be for additional fleet purchases or for users that JC Auto identifies. It also signifies a key milestone in FF's Global Automotive Industry Strategy and high potential of its "four blue ocean markets" in the U.S. AIEV market. JC Auto, with years of experience in vehicle leasing and sales, plans to utilize up to 300 of FX Super One vehicles for business expansion initiatives such as establishing an Uber Black fleet and providing VIP transport services for high-end hotels and airports in New York. JC Auto will also become a co-creation partner, collaboratively sharing and delivering the unique value of the First Class AI-MPV experience. This is a critical step towards realizing FX's vision. It could help the Company unlock real value while validating the effectiveness of the "Three Pillars" user ecosystem strategy, making the goal of each FX vehicle becoming a hit product increasingly attainable. First Class MPVs have already become a preferred choice for celebrities and high-net-worth individuals in China, Hong Kong, and across Asia, serving as both business and family vehicles. However, American consumers have yet to experience a truly powerful AI MPV product. FX Super One, which could be the first First Class AI-MPV in the U.S., would address this unmet demand and open up a vast blue-ocean market. The FX Super One could not only deliver a superior user experience compared to mainstream premium business vehicles like the Cadillac Escalade, but also create a disruptive, cross-dimensional advantage, positioning itself to quickly become a best-seller across the U.S. market. The Company anticipates that the FX Super One will initially be available as a pure electric vehicle, with the later addition of a super AI hybrid extended range (AIHER) electric powertrain option. FX's proprietary AIHER system, which is being designed and developed, would offer a fusion of hybrids and range extenders, primarily range-extended with hybrid drive playing a secondary role, and could fundamentally overcome the weaknesses of conventional hybrid and plug-in hybrid systems, making it particularly suited to the cold winters of the U.S. East Coast. The FX Super One, an affordable mass market EV, is anticipated to have the first vehicles off the line by the end of 2025. Offering a spacious, meticulously crafted interior with high-end materials and advanced technology, FX Super One prioritizes passenger comfort with features such as reclining seats, ambient lighting, and premium entertainment systems. The electric powertrain ensures a smooth, quiet ride while delivering improved fuel efficiency and reduced emissions, aligning luxury with sustainability. The Company is targeting tens of thousands of FX vehicle sales within two years of production, subject to securing the necessary agreements and funding. "Securing our first B2B reservation is a clear indication that we're addressing an unmet need in today's EV market," commented YT Jia, Founder and Co-Global CEO of Faraday Future. "The early excitement around the FX brand underscores the innovation and forward-thinking design we're bringing to the market. As we advance toward our long-term goals, we're energized by this momentum and look forward to seeing the FX on roads across the U.S. very soon. We will work tirelessly to achieve our goal of the first vehicle rollout by the end of this year." "We experienced both FF and FX vehicles at FF's Los Angeles headquarters and fell in love immediately with all of them. We think the FX Super One MPV will serve great needs among premium automotive market in U.S. at scale, with an affordable price, together with a premium user experience, and are thrilled to partner with Faraday Future and bring their groundbreaking vehicles to our customers," said Michael Wang, General Manager of JC Auto. "Faraday Future's commitment to innovation, cutting-edge technology, and sustainable mobility sets them apart in the EV market. We're confident that the Super One will resonate with drivers seeking a next-generation electric vehicle experience, and we look forward to a successful collaboration as these vehicles hit our showroom and the roads in New York." The FX Super One is anticipated to be unveiled in June of 2025, and expects to start collecting paid reservations thereafter. Development of the second and third potential FX models is also progressing. The FX brand strategy aims to seize what the Company has identified as "four blue ocean markets" in the U.S. AIEV market: range-extended vehicles, intelligent vehicles defined as mobile living spaces, and affordable AIEV's priced between $20,000 to $40,000. Faraday Future's appointment of company founder YT Jia as Co-Global CEO underscores a renewed focus on visionary leadership and accelerated innovation, particularly as the Company aims to integrate advanced AI into its new FX lineup. With ambitious sales targets and plans for global expansion, Faraday Future is positioning itself as a bold contender in the evolving EV market. ABOUT FARADAY FUTURE Faraday Future is the pioneer of the Ultimate AI Tech Luxury 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 the pursuit of intelligent and AI-driven mobility. ABOUT JC AUTO With years of experience serving the area, JC Auto is dedicated to offering high-quality vehicles to its customers. With many vehicle shopping options available, JC Auto differentiates itself by understanding the local car-buying community and satisfying its needs; helping valued local customers find the vehicle that's the right fit. More information can be found at https://www.jciiautos.com/about-us/. 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 Super One MPV, the FX brand, the reservation by JC Auto, the creation of a fleet service by JC Auto, and production and sales goals, 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 ability of JC Auto to successfully establish a premium fleet; the number of vehicles that JC Auto ultimately chooses to purchase from the Company, which may be as few as two; the ability of JC auto to identify purchasers for the Super One; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to design and develop EREV technology; the Company's ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license third-party range extender technology and/or license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; and the Company's ability to secure necessary permits at its Hanford, CA production facility; the potential impact of tariff policy; 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 warranty 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 SEC on March 31, 2025, 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/20250429222401/en/ Investors (English): ir@faradayfuture.com Investors (Chinese): cn-ir@faradayfuture.com Media: john.schilling@ff.com FFAIFaraday Future Intelligent Electric Inc$1.30-0.76%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value12.15Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

Faraday Future's FX Brand Announces an Additional Significant Pre-Order for its FX Super One MPV, Adding 300 Units in Another B2B Agreement - Faraday Future (NASDAQ:FFAI)

This marks the second bulk order for the FX Super One MPV (Multi-purpose vehicle) in a one-week span and signifies the strong market demand and momentum for the FX brand and its lineup of new vehicles. A total number of 1,300 units through non-binding pre-orders marks the continuous breakthroughs of B2B co-creation ecosystem model. Non-binding fleet pre-orders have now been completed in both the East Coast and West Coast markets signifying National interest in the FX vehicle lineup. Both non-refundable deposits have been received. Faraday Future Intelligent Electric Inc. FFAI ("Faraday Future", "FF" or the "Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has added another binding pre-order agreement, which includes a non-binding reservation and a non-refundable $30,000 deposit for 300 units, to its growing business-to-business (B2B) co-creation ecosystem model. This order adds to the previously announced non-binding pre-order of 1,000 units to a New York City-based automotive dealership, which was announced last week. The pre-order was placed by Sky Horse Auto LLC, which is a mobility solutions provider based in California. The non-refundable deposit, which has been paid and can be used toward the purchase of FX vehicles, secures priority delivery of up to 300 FX vehicles. This reservation reflects positive market feedback and acceptance on a national level in the U.S., including users on both coasts. Sky Horse will also become a co-creation partner, collaboratively delivering and sharing the unique value of the First Class AI-MPV experience. The FX Super One MPVs pre-ordered by Sky Horse could be integrated into its expanding premium fleet, serving both leisure and business travelers seeking top-tier comfort and versatility. Sky Horse plans to deploy these vehicles primarily across key West Coast markets, including Orange County, Los Angeles, San Francisco, and Las Vegas, to enhance its luxury self-drive and chauffeur services. The FX's cutting-edge design and multi-purpose capabilities align with Sky Horse's strategy to offer an elevated driving experience to its discerning international clientele. The FX Super One, an affordable mass market EV, is anticipated to have the first vehicles off the line by the end of 2025. Offering a spacious, meticulously crafted interior with high-end materials and advanced technology, FX Super One prioritizes passenger comfort with features such as reclining seats, ambient lighting, and premium entertainment systems. The electric powertrain ensures a smooth, quiet ride while delivering improved fuel efficiency and reduced emissions, aligning luxury with sustainability. The Company is targeting tens of thousands of FX vehicle sales within two years of production, subject to securing the necessary agreements and funding. "Securing another B2B reservation order in another geographic region in the past week is a clear indication that we're addressing an unmet need in today's AIEV MPV market," said YT Jia, Founder and Co-Global CEO of Faraday Future. "Sky Horse is a young and growing mobility solutions provider that we are eager to support. We are both proud and excited to assist them with helping them grow their fleet and business with cutting edge and innovative vehicles that will serve their clientele with the utmost in comfort, innovation, technology, performance and with the quality and reliability they have come to expect with their entire fleet." Sky Horse believes the FX Super One MPV represents a significant leap forward in the evolution of luxury electric mobility. "We are excited to be among the first to introduce the FX Super One MPV to our markets," said Stephen Kuo, CEO of Sky Horse. "Our international customers are increasingly demanding high-end, sustainable mobility solutions, and the FX delivers not only on performance and innovation but also on environmental responsibility. We are confident that integrating the FX into our fleet will set a new standard for luxury travel and position Sky Horse at the forefront of next-generation mobility." The FX Super One is anticipated to be unveiled in June of 2025, and expects to start collecting non-binding paid reservations thereafter. Development of the second and third potential FX models is also progressing. The FX brand strategy aims to seize what the Company has identified as "four blue ocean markets" in the U.S. AIEV market: range-extended vehicles, intelligent vehicles defined as mobile living spaces, and affordable AIEVs priced between $20,000 to $40,000. ABOUT FARADAY FUTURE Faraday Future is the pioneer of the Ultimate AI Tech Luxury 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 the pursuit of intelligent and AI-driven mobility. ABOUT SKY HORSE Founded in 2019, Sky Horse Auto LLC is a fast-growing mobility solutions provider based in California, specializing in premium car rental services and custom travel experiences for international travelers. Sky Horse has quickly expanded its fleet to over 100 vehicles across major U.S. cities including Los Angeles, San Francisco, and Las Vegas, and is recognized for its personalized service and commitment to safety and convenience. Sky Horse continues to redefine the car rental experience by integrating innovative technologies and premium vehicle offerings. More information can be found at https://www.skyhorseauto.com. 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 Super One MPV, the FX brand, the reservation by Sky Horse Auto LLC, the expansion of a fleet service by Sky Horse Auto LLC, and production and sales goals, 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 number of vehicles that Sky Horse Auto LLC ultimately chooses to purchase from the Company, which may be as few as one; market demand for MPV rentals, particularly in Southern California; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to design and develop EREV technology; the Company's ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license third-party range extender technology and/or license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; and the Company's ability to secure necessary permits at its Hanford, CA production facility; the potential impact of tariff policy; 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 warranty 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 SEC on March 31, 2025, 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/20250504915642/en/ Investors (English): ir@faradayfuture.com Investors (Chinese): cn-ir@faradayfuture.com Media: john.schilling@ff.com FFAIFaraday Future Intelligent Electric Inc$1.16-2.52%Stock Score Locked: Want to See it? Benzinga Rankings give you vital metrics on any stock - anytime. Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value10.45Price TrendShortMediumLongOverviewMarket News and Data brought to you by Benzinga APIs

FF Signs First B2B Pre-order Agreement for 1,000 Units of FX Super One, Achieving Initial Success in Global Automotive Industry Strategy

Early market traction underscores strong market demand and momentum, confirms long-term strategy ahead of the first official FX product launch this June, securing recognition from an East Coast business validates FF's unique "Three Pillars" model of user acquisition, co-creation, and user operations. Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ("Faraday Future", "FF" or the "Company"), a California-based global shared intelligent electric mobility ecosystem company, today announced that it has signed the first binding business-to-business (B2B) pre-order agreement, which includes a non-refundable deposit and a non-binding reservation for 1,000 units of the Company's highly anticipated FX model, the Super One MPV (Multi-purpose vehicle). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250429222401/en/ The pre-order was placed by New York City-based automotive dealership, 129 Auto Sales Corp., doing business as JC Auto. It is paying a $100,000 non-refundable deposit, which can be used toward the purchase of FX vehicles, to secure priority delivery of up to 300 FX vehicles, subject to an additional payment. This reservation reflects positive market feedback in the U.S., including by East Coast users. JC Auto plans to establish a premium fleet of up to 300 vehicles that covers the New York area using the FX Flagship model, Super One MPV. The remaining reserved vehicles would be for additional fleet purchases or for users that JC Auto identifies. It also signifies a key milestone in FF's Global Automotive Industry Strategy and high potential of its "four blue ocean markets" in the U.S. AIEV market. JC Auto, with years of experience in vehicle leasing and sales, plans to utilize up to 300 of FX Super One vehicles for business expansion initiatives such as establishing an Uber Black fleet and providing VIP transport services for high-end hotels and airports in New York. JC Auto will also become a co-creation partner, collaboratively sharing and delivering the unique value of the First Class AI-MPV experience. This is a critical step towards realizing FX's vision. It could help the Company unlock real value while validating the effectiveness of the "Three Pillars" user ecosystem strategy, making the goal of each FX vehicle becoming a hit product increasingly attainable. First Class MPVs have already become a preferred choice for celebrities and high-net-worth individuals in China, Hong Kong, and across Asia, serving as both business and family vehicles. However, American consumers have yet to experience a truly powerful AI MPV product. FX Super One, which could be the first First Class AI-MPV in the U.S., would address this unmet demand and open up a vast blue-ocean market. The FX Super One could not only deliver a superior user experience compared to mainstream premium business vehicles like the Cadillac Escalade, but also create a disruptive, cross-dimensional advantage, positioning itself to quickly become a best-seller across the U.S. market. The Company anticipates that the FX Super One will initially be available as a pure electric vehicle, with the later addition of a super AI hybrid extended range (AIHER) electric powertrain option. FX's proprietary AIHER system, which is being designed and developed, would offer a fusion of hybrids and range extenders, primarily range-extended with hybrid drive playing a secondary role, and could fundamentally overcome the weaknesses of conventional hybrid and plug-in hybrid systems, making it particularly suited to the cold winters of the U.S. East Coast. The FX Super One, an affordable mass market EV, is anticipated to have the first vehicles off the line by the end of 2025. Offering a spacious, meticulously crafted interior with high-end materials and advanced technology, FX Super One prioritizes passenger comfort with features such as reclining seats, ambient lighting, and premium entertainment systems. The electric powertrain ensures a smooth, quiet ride while delivering improved fuel efficiency and reduced emissions, aligning luxury with sustainability. The Company is targeting tens of thousands of FX vehicle sales within two years of production, subject to securing the necessary agreements and funding. "Securing our first B2B reservation is a clear indication that we're addressing an unmet need in today's EV market," commented YT Jia, Founder and Co-Global CEO of Faraday Future. "The early excitement around the FX brand underscores the innovation and forward-thinking design we're bringing to the market. As we advance toward our long-term goals, we're energized by this momentum and look forward to seeing the FX on roads across the U.S. very soon. We will work tirelessly to achieve our goal of the first vehicle rollout by the end of this year." "We experienced both FF and FX vehicles at FF's Los Angeles headquarters and fell in love immediately with all of them. We think the FX Super One MPV will serve great needs among premium automotive market in U.S. at scale, with an affordable price, together with a premium user experience, and are thrilled to partner with Faraday Future and bring their groundbreaking vehicles to our customers," said Michael Wang, General Manager of JC Auto. "Faraday Future's commitment to innovation, cutting-edge technology, and sustainable mobility sets them apart in the EV market. We're confident that the Super One will resonate with drivers seeking a next-generation electric vehicle experience, and we look forward to a successful collaboration as these vehicles hit our showroom and the roads in New York." The FX Super One is anticipated to be unveiled in June of 2025, and expects to start collecting paid reservations thereafter. Development of the second and third potential FX models is also progressing. The FX brand strategy aims to seize what the Company has identified as "four blue ocean markets" in the U.S. AIEV market: range-extended vehicles, intelligent vehicles defined as mobile living spaces, and affordable AIEV's priced between $20,000 to $40,000. Faraday Future's appointment of company founder YT Jia as Co-Global CEO underscores a renewed focus on visionary leadership and accelerated innovation, particularly as the Company aims to integrate advanced AI into its new FX lineup. With ambitious sales targets and plans for global expansion, Faraday Future is positioning itself as a bold contender in the evolving EV market. ABOUT FARADAY FUTURE Faraday Future is the pioneer of the Ultimate AI Tech Luxury 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 the pursuit of intelligent and AI-driven mobility. ABOUT JC AUTO With years of experience serving the area, JC Auto is dedicated to offering high-quality vehicles to its customers. With many vehicle shopping options available, JC Auto differentiates itself by understanding the local car-buying community and satisfying its needs; helping valued local customers find the vehicle that's the right fit. More information can be found at https://www.jciiautos.com/about-us/. 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 Super One MPV, the FX brand, the reservation by JC Auto, the creation of a fleet service by JC Auto, and production and sales goals, 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 ability of JC Auto to successfully establish a premium fleet; the number of vehicles that JC Auto ultimately chooses to purchase from the Company, which may be as few as two; the ability of JC auto to identify purchasers for the Super One; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to design and develop EREV technology; the Company's ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license third-party range extender technology and/or license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; and the Company's ability to secure necessary permits at its Hanford, CA production facility; the potential impact of tariff policy; 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 warranty 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 SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.

Faraday Future Founder and Co-CEO, YT Jia, Shares Weekly Investor Update

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ("Faraday Future", "FF" or the "Company"), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly update from YT Jia, Founder and Co-CEO of FF. "Welcome to the very first Co-CEO Weekly Investor Update. Why did I decide to launch this weekly update the very first week as Co-CEO? Because I believe in putting both our major stockholders and individual stockholders first. And because a promise must be kept. Relying only on traditional channels -- like annual and quarterly reports -- is no longer enough. To better collect your feedback and respond in a timely and transparent way, my very first action as Co-CEO is to build an open communication mechanism that is open and transparent and fully based on compliance with laws and regulations. This Weekly Investor Update is just the first step. It's the beginning of our delivering on promises and rebuilding trust. Now, what you're seeing here are some of the key tools we use in our day-to-day operations. In the future, I will share more details with you on how these tools help us manage the company, drive product development and delivery, and build our user ecosystem. We aim to manage the entire company as if it were a product. And I'm not just the chief product officer for our vehicles and technology, I'm also the chief product officer for how we turn the entire company into a product-like and AI-powered organization. Going forward, the content of these weekly reports will be based on these core management tools. They won't just be about financial indicators and operational data. Instead, like a product manager, I will walk you through the overall state of the company and our progress each week. This week, we officially kicked off the 10 Punch Combo Initiative for both FF and FX. Our biggest breakthrough came on the sales front, especially in our B2B co-creation ecosystem. Following Tuesday's announcement of a binding pre-order agreement for 1,000 units of FX Super One, which includes a non-refundable deposit and a non-binding reservation from a dealership in New York, we secured another B2B deal on Thursday. Using the same model, we signed a binding pre-order agreement for 300 units of FX Super One, which includes a non-refundable deposit and a non-binding reservation from Skyhorse, a mobility solutions provider based in California. Skyhorse will also become a new co-creation partner, working with us to co-create and share the blue ocean value of the First Class AI MPV market. With our B2B business gaining traction on both the East and West Coasts, the strong response from major clients, from the rental and car-sharing markets, has been a huge morale boost for us and for our strategic partners in the Bridge Strategy. The level of interest from U.S. users in AIEV models with extreme price-to-performance ratio like ours is even greater than we expected. We believe there's tremendous potential in the four major blue ocean markets we're targeting." "In addition, we saw initial success this week in our Counterattack Against Potentially Illegal Short Selling. We released an official update on the progress we've made in addressing potential illegal shorting and online manipulation targeting FFAI. An individual and related accounts involved have issued a public apology and removed all related content suspected of market manipulation. We will continue to take action to protect the rights of our stockholders. Any illegal attempts to harm FF or damage investor interests through illegal short selling will come at a cost. Now that I've shared the good progress, I also want to talk about the areas where we've fallen short and need serious reflection.As I just showed you in the operational overview, despite the breakthroughs this week, there were still some tasks we didn't complete, or that were delayed. Why did this happen? In my view, the root cause lies in our company culture,organizational efficiency, and how we manage performance. 1. Strong performance can at times go unrecognized or unrewarded. And there are also times when mistakes go unaddressed. 2. Cross-cultural collaboration is still a major challenge. 3. A "Say No" culture still exists. Too often, when people hear about a new idea or task, their first response is to say "No," instead of asking themselves, "How can I make this happen?" This is not the FF culture we want. And we must make a change. 1. We are restarting our reward-and-accountability mechanism. Those who perform well should be strongly rewarded. Those who fall short must be held accountable. In fact, this week, we have already terminated, optimized, or restructured several senior management roles. 2. We are rebuilding our core values and company mindset. One that is goal-driven, execution-focused, and results-oriented. 3. In FF, different opinions are welcomed only with solutions to address the issues. This is where "execution with all your might" starts. Looking ahead to next week, my focus will be on four key task streams within our S0-S7 company-level strategic roadmap: S1: Building Our User Ecosystem S1.1.1 We're building out our user ecosystem, including a co-creation-based direct online sales model. This is all to prepare for the official launch of our FX Super One product and its first major official push to consumers. We've already started the internal countdown toward launch. S1.1.4 We are also continuing to drive B2B sales and secure pre-orders. We've started outreach to major U.S. ride-hailing platforms to explore strategic partnerships and business models that can empower FX Super One with large enterprise clients. S1.2.2: We will continue building a full user operations system, including after-sales services." "S2, S3, S4: Product Development Our first potential FX vehicle line, Super One, is moving ahead with engineering, testing, supply chain, and production readiness. Our second vehicle model has entered open-road testing in the U.S., and we'll be sharing more updates on that very soon. S5 Capital & Finance S5.2.1 We are fully focused on preparing our Q1 financial results and upcoming earnings call. I'll share updates on our progress next week. S7: Capabilities, Systems & Operations S7.2: We are prioritizing the build-out of our financial systems. In future reports, I'll also provide more structured updates on the development of both the FF and FX organizational systems and capabilities. I was truly surprised and moved by the response to the news of my appointment as Co-CEO last week. During interviews, I even reconnected with a few long-time media friends -- it was a deeply emotional moment. It's been eight years since I left my hometown, and I'm grateful -- and humbled -- that so many back home are still watching and supporting me. At the same time, I also feel a strong sense of responsibility. FF hasn't succeeded yet, and for that, I feel deeply sorry. But we're not giving up. We will succeed. This first week as Co-CEO has been intense -- there's pressure, of course, and anxiety at times -- but above all, I feel a renewed sense of purpose. This "Investor Weekly" is one way I'm holding myself accountable. I hope we can keep this going as a commitment to putting stockholders first. Some major milestones this week also reminded me: when we stay focused, do the right things, and execute relentlessly, the results will exceed expectations. We talk a lot about "blue oceans," but when the market starts responding, when customers come to you -- that's when you realize the dream is real. It's not just talk. You really can carve out a new path by sheer effort. We're just getting started on the road to success -- for both FF and FX. Through this Co-CEO Investor Weekly, I hope to keep communicating and engaging with all of you, and I look forward to hearing your feedback. Leave me a comment -- I'll try to answer as many questions as I can. See you next week!" ABOUT FARADAY FUTURE Faraday Future is the pioneer of the Ultimate AI Tech Luxury 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 the pursuit of intelligent and AI-driven mobility. 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 Super One MPV, the FX brand, the reservation by JC Auto, the creation of a fleet service by JC Auto, the reservation by Sky Horse Auto LLC, the expansion of a fleet service by Sky Horse Auto LLC, and production and sales goals, 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 ability of JC Auto to successfully establish a premium fleet; the number of vehicles that JC Auto ultimately chooses to purchase from the Company, which may be as few as two; the ability of JC auto to identify purchasers for the Super One; the number of vehicles that Sky Horse Auto LLC ultimately chooses to purchase from the Company, which may be as few as one; market demand for MPV rentals, particularly in Southern California; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to design and develop EREV technology; the Company's ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license third-party range extender technology and/or license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; and the Company's ability to secure necessary permits at its Hanford, CA production facility; the potential impact of tariff policy; 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 warranty 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 SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.