Faraday Future Hosts Chinese Automotive Supplier Delegation at its HQ, Discussing Strategic Cooperation Opportunities with the Chinese Supply Chain
January 03 2024 - 10:54PM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240103078305/en/
Investors (English): ir@faradayfuture.com Investors (Chinese):
cn-ir@faradayfuture.com Media: john.schilling@ff.com
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