- Faraday Future (FF) plans to announce the date and detailed
plan for the stock ticker symbol change in January 2025.
- FF invites AI industry partners to jointly explore the future
of AI in mobility during the “FF AI Open Day” event that will also
take place in early 2025.
- FF aims to drive a comprehensive AI transformation strategy in
the U.S. EV industry including with the products announced recently
with its new FX brand.
- Full-vehicle AI integration will be the core strategy of FF and
the new FX brand. FF aims to achieve cross-domain integration of
end-to-end computation, algorithms, and data, providing users with
innovative one-stop AI experiences.
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 it plans to change its Nasdaq ticker symbol
from “FFIE” to “FFAI” in early 2025. This change aligns with the
Company’s continued focus on its AI strategy that includes its new
FX brand strategy. Surveys conducted over the past year also
consistently showed a preference for changing the ticker symbol
from "FFIE" to "FFAI." The Company plans to announce the date and
detailed plans for the official stock ticker symbol change and “FF
AI Open Day” in January 2025.
“Since its establishment, AI has been an FF cornerstone,” said
Matthias Aydt, Global CEO of Faraday Future. “The stock ticker
‘FFAI’ better reflects the Company’s strategic direction. With FF’s
AI technology empowering the FX strategy and the gradual
implementation of this strategy, we aim to create AIEVs with
extreme price-experience ratio, addressing gaps in the U.S. AIEV
market, including AI cabins. Our goal is to drive the comprehensive
AI transformation of the U.S. EV industry.”
FF’s All-AI Technology Architecture to push the boundaries of
AIEV
Since its founding, FF has recognized that intelligent electric
vehicles are not merely tools for transportation but dynamic,
evolving “mobile robots.” FF has always believed that its
foundation is in AI technologies.
AI is at the core of the FF aiHyper 6x4 Architecture 2.0. By
leveraging specialized large AI models in the mobility sector, FF
AI aims to achieve complete AI integration through cross-domain
computing, algorithms, and data, along with end-to-end full-chain
integration. This enables a fully integrated AI-driven technology
structure, where the four major AI engines empower the four
technology systems and six technology platforms.
Magic All-In-One AI Engine is powered by a
multi-modal large model driven by visual language models (VLMs),
aiming at integrating road pre-scanning, cloud data, and vehicle
sensors to deliver the ultimate driving experience.
Hyper Multi-Vectoring AI engine could leverage large AI
models to enable AI-driven control of steering, braking, and power
delivery, aiming to unleash the vehicle's Hyper performance through
AI technology.
The 3rd aiSpace AI Engine leverages proprietary
large-scale models specifically designed for mobility, delivering
comprehensive intelligent services by seamlessly integrating
end-to-end computation, algorithms, and cross-domain data.
FF aiDriving AI Engine utilizes a large VLM to
achieve deep integration of vision, language, speech, and
historical data to make every journey safe, intelligent, and
enjoyable.
By integrating data from the mobility ecosystem and
incorporating third-party general-purpose large models alongside
proprietary large-scale models tailored for mobility, the FF AI
platform aims to push the boundaries of AIEV technologies and pave
the way for an open, collaborative, and mutually beneficial future
mobility ecosystem.
The FX strategy presents an excellent opportunity for the
application and evolution of the Company’s AI strategy. FF’s AI
capabilities are planned to empower the FX brand through iterative
innovation, enabling AI to consistently redefine the mobility
experience.
Comprehensive AI Strategy Could Deliver Multi-Dimensional
Value for Users, Partners and Industry
FF’s AI strategy includes introducing new revenue streams, such
as in-vehicle subscriptions and AI-driven value-added services.
These innovations could also enhance user loyalty and
recognition.
For users, FF and FX products could act as “intelligent
partners,” with product design centered on natural interaction
methods, including voice and gesture controls. These features would
deliver intuitive, seamless interactions that continuously improve
through learning, offering personalized AI experiences.
Through its “AI-First” approach and co-creation ecosystem, FF is
driving the evolution of cars from traditional vehicles to
intelligent mobile devices, setting new benchmarks for future smart
vehicles. By fostering collaboration with global developers and AI
experts, FF aims to propel industry-wide innovation, benefiting the
sector and its partners.
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.
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 changing the Company’s ticker symbol,
hosting an AI open day event, and full integration of AI in the
Company’s vehicles, 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 Company may determine to not
change its ticker symbol; the Company may determine to not host an
AI open day event; the Company’s ability to fully integrate AI into
its vehicles on a cost effective basis, if at all; the Company’s
ability to secure the necessary funding to execute on the FX
strategy, which will be substantial; the Company’s ability to
secure additional agreements with OEMs that are necessary to
execute on the FX strategy; 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 May 28, 2024, as amended
on May 30, 2024, and June 24, 2024, as updated by the “Risk
Factors” section of the Company’s first quarter 2024 Form 10-Q
filed with the SEC on July 30, 2024, 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/20241125391240/en/
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
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