Faraday Future ("FF," “FFIE,” or the “Company”), a
California-based global shared intelligent electric mobility
ecosystem company, today announced that Mr. Tin Mok, Global
Executive Vice President of Global User Ecosystem at Faraday
Future, has been appointed to FFIE’s Board of Directors as the
executive director effective January 25, 2023. On the same date,
the Board also appointed Mr. Tin Mok as a member of the Board's
Finance and Investment Committee.
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the full release here:
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Tin Mok Appointed to Faraday Future’s
Board of Directors as an Executive Director (Photo: Business
Wire)
On the same date, FFIE’s Selection Committee, which was
established pursuant to the Heads of Agreement between FFIE, FF Top
Holding LLC (“FF Top”) and FF Global Partners LLC ("FFGP”),
approved Mr. Mok’s nomination for election to the Board at FFIE’s
2023 annual meeting of stockholders (the “2023 Annual Meeting”) as
one of FF Top’s Designees. The company is in the process of
selecting a date for 2023 Annual Meeting, which it expects to
announce soon.
Mr. Mok is the Global Executive Vice President of Faraday
Future, he is also a member of the board of managers of FF Global
Partners, as well as the member its Executive Committee. Mr. Mok
oversees the Global User Ecosystem team which includes the strategy
development and execution of FFIE’s Brand & Marketing
Communications, O2O Sales and aftersales, User Operations as well
as the establishment of the Eco-O2O Direct Sales System. Mr. Mok is
a senior leader with over 15 years of executive experience in the
global consumer electronics, high-tech Internet industries and
intelligent electric vehicle industries and was a core executive
who participated in the early establishment of FF. Prior to that,
Mr. Mok served as the chief marking officer of the LeEco Holdings
and the CEO of LeEco Holdings Asia Pacific, where he successfully
helped LeEco Holdings develop the United States, Mainland China,
India, Hong Kong, China and the global markets including the
Asia-Pacific region. Mr. Mok also served as vice president of Meizu
Technology Co. Ltd, where he was responsible for the Chinese local
and global rollout and expansion of Meizu’s smart products. He has
strong experience in global brand marketing, sales, and user
operations in the global consumer electronics, smart device, and
Internet industries. He led teams at LeEco and Meizu to achieve
stellar sales results, brand awareness, and global business
expansion. Mr. Mok succeeded in robust penetration of smartphone
and smart TV sales in India, Hong Kong, and China markets in a very
short period of time repeatedly.
Mr. Mok replaces Mr. Qing Ye on the Company’s Board. Mr. Mok’s
appointment is pursuant to the Amended Shareholder Agreement
between FFIE and FF Top, and follows the procedures set forth in
the Heads of Agreement, by and among FFIE, FF Top and FFGP, as
amended, for the nomination of directors for election to the Board
at the 2023 Annual Meeting. The Company would like to thank Mr.
Qing Ye for his outstanding contributions to the Company during his
tenure as a member of the Board of Directors. Pursuant to the
Amended Shareholder Agreement, FF Top currently has the right to
nominate for election to the Board four designees, subject to the
nomination procedures set forth in the Heads of Agreement. Mr. Mok
is the first director nominee approved by the Selection Committee.
Under the Heads of Agreement, the Board and the Nominating and
Corporate Governance Committee will recommend that stockholders
vote in favor of, and solicit proxies in favor, the nominees
approved by the Selection Committee at the 2023 Annual Meeting.
"We are excited and encouraged to have Mr. Mok join the
Company's Board of Directors at this critical time. Together with
the other members of the Board, he will provide the Company with
strong experience and leadership as we move full steam ahead
towards the launch of the FF 91 Futurist,” said Mr. Adam He,
Chairman of FFIE."
The Company expects to start production of a saleable FF 91
Futurist at the end of March 2023, with deliveries before the end
of April, subject to the timely availability of additional funding
and timely stockholder approval of an authorized share increase.
The Company continues to make progress with testing and validation
of the FF 91 Futurist through the Product and Technology Generation
2.0 program (PT Gen 2.0).
The Company also recently announced it has completed
manufacturing milestone #6, the completion of construction and
equipment installation in vehicle assembly areas. This marks six of
the seven manufacturing milestones (the 7th milestone being SOP)
that FF laid out late in 2021 to mark its manufacturing
achievements towards the start of production of the FF 91
Futurist.
Users can preorder an FF 91 Futurist via the FF Intelligent App
or through our website (English): https://www.ff.com/us/preorder/
or (Chinese): https://www.ff.com/cn/preorder/
Download the new FF Intelligent App (English):
https://apps.apple.com/us/app/id1454187098 or
https://play.google.com/store/apps/details?id=com.faradayfuture.online,
(Chinese): http://appdownload.ff.com
ABOUT FARADAY FUTURE
Faraday Future is a class-defining luxury electric vehicle
company. The Company has pioneered numerous innovations relating to
its products, technology, business model, and user ecosystem since
inception in 2014. Faraday Future aims to perpetually improve the
way people move by creating a forward-thinking mobility ecosystem
that integrates clean energy, AI, the Internet, and new usership
models. Faraday Future’s first flagship product is the FF 91
Futurist.
FOLLOW FARADAY FUTURE:
https://www.ff.com/
http://appdownload.ff.com
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
NO OFFER OR SOLICITATION
This communication shall neither constitute an offer to sell or
the solicitation of an offer to buy any securities, nor shall there
be any sale of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
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, among other things, statements regarding potential timing
for holding the 2023 Annual Meeting and the announcement thereof,
the anticipated start of production (SOP) and delivery timing for
our FF 91 Futurist vehicle, additional funding and timing for
receipt thereof and FF stockholder approval of an authorized share
increase and the timing thereof, 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 whether the Amended Shareholder Agreement between the
Company and FF Top, dated as of January 13, 2023, complies with the
listing requirements of The Nasdaq Stock Market LLC, the market
performance of the shares of the Company’s common stock; the
Company’s ability to regain compliance with, and thereafter
continue to comply with, the Nasdaq listing requirements; the
Company’s ability to satisfy the conditions precedent and close on
the various financings previously disclosed by the Company and any
future financings, the failure of any of which could result in the
Company seeking protection under the Bankruptcy Code; the Company’s
ability to amend its certificate of incorporation to permit
sufficient authorized shares to be issued in connection with the
Company’s existing and contemplated financings; whether the Company
and the City of Huanggang could agree on definitive documents to
effectuate the non-binding Cooperation Framework Agreement; the
Company’s ability to remain in compliance with its public filing
requirements under the Securities Exchange Act of 1934, as amended;
the outcome of the SEC investigation relating to the matters that
were the subject of the Special Committee investigation and other
litigation involving the Company; 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; potential
litigation involving the Company; the result of future financing
efforts and general economic and market conditions impacting demand
for the Company’s products; recent cost, headcount and salary
reduction actions may not be sufficient or may not achieve their
expected results; and the ability of the Company to attract and
retain directors and employees. 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 registration statement on Form
S-1 filed on December 23, 2022, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230126005977/en/
Investors (English): ir@faradayfuture.com Investors
(Chinese): cn-ir@faradayfuture.com Media:
john.schilling@ff.com
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