U.S. tariff threat taking toll on small businesses
Canadian Federation of Independent Business President Dan Kelly speaks about the impact tariff threats are having on small businesses.
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Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: Company Has Received Over 10,000 Paid Pre-Orders for the FX Super One MPV as It Marks the 4th Anniversary of FFAI's Public Listing
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 business update from YT Jia, Founder and Co-CEO of FF. This press release features multimedia. View the full release here: Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: Company Has Received Over 10,000 Paid Pre-Orders for the FX Super One MPV as it Marks the 4th Anniversary of FFAI's Public Listing 'This week marks the 4th anniversary of FFAI's public listing. Over the past four years, we've weathered countless ups and downs, pushed through our darkest hours, and stood firm in the face of doubts and challenges—never giving up. Above all, we are most grateful to the investors, stockholders, and partners who have stood by us. Your support is the reason our dream has never dimmed. As of the day of our July 17 Initial Product Launch of FX Super One, we have received over 10,000 paid pre-orders for this vehicle. Beyond the much-discussed Super EAI F.A.C.E., many people have asked me: what exactly are Super One's breakthroughs in product value for the U.S. market? To answer that, let's take a closer look at S2 and S3 Products & Technologies, where we've been carefully crafting. We've distilled five big breakthroughs in product value—these are what we believe give Super One its truly disruptive and differentiated edge in the U.S. market. First, it represents a whole new category—First Class EAI-MPV, addressing three key pain points for American users, including: Number one, traditional minivans may offer large interior space, but have poor power performance and safety, and offer no sense of luxury whatsoever. Number two, while the Escalade is luxurious, it's fundamentally constrained by its traditional, bulky SUV structure. This leads to a poor driving experience, inefficient use of space, and a compromised user experience overall. It's inconvenient to get in and out of and lacks the versatility for today's diverse lifestyles. Number three, let alone EAI capabilities, both of these vehicle types have almost zero AI capability and are stuck in a past era. We believe Super One is here to shatter old paradigms and deliver brand new value. Second, it is a vehicle EAI agent and an avatar of its owner. It redefines the human-vehicle relationship, moving from passive control to a partnership of mutual understanding and shared experience. It feels what you feel and accompanies where you go. Third, it delivers comprehensive intelligent active safety. Its high-strength steel body, electric AWD, and an AI risk prediction engine all work together to make every journey exceptionally safe and secure. Fourth, AI luxury and ultimate comfort like a private clubhouse, it breaks boundaries and sets new gold standards for luxury and comfort. Fifth, FF empowers the FX Super One with much of the core value of the $300,000 FF 91. With extreme price-to-performance ratio and running cost, it aims to bring accessible AI TechLuxury. S5: On capital markets and finance: After the July 17 launch, our Capital team organized a series of roadshows for investment institutions. We also had in-depth conversations with many investors online. A lot of investors are especially interested in our latest Web3 strategic partnership with HabitTrade, a well-known digital asset infrastructure platform. Many are excited about how FF, together with the Web3 industry, can once again generate eco chemistry and lead the next major trend in the industry. In fact, we've been researching and preparing in Web3 space for quite some time. We firmly believe that, with FF's unique AI and internet DNA, and by combining EAI mobility with Web3, blockchain technology, cryptocurrency, and stablecoin applications, we can create entirely new value for users and the industry. We're building a future where Web2 and Web3, on-chain and off-chain, the physical and virtual worlds, all come together. We look forward to sharing these exciting plans and updates with you soon. Thank you to all our investors for your continued attention and support for FF and FX. We'll keep driving the company's growth with open and transparent communication. Today we're starting with Government affairs updates in terms of S7 System and Capability Build-Up. This week, we brought the FX Super One and FF 91 to Capitol Hill in Washington, D.C. There, we held high-level closed-door discussions with over a dozen U.S. Congress members and tariff policy makers. We talked about important topics such as reshoring U.S. manufacturing, technological innovation, and industry policies related to tariffs—efforts that support the implementation of the Global Automotive Industry Bridge Strategy. After experiencing both models in person, the Congress members were very impressed. We believe we will fill a key gap in the market, upgrading the American consumer experience, and helping accelerate the reshoring of manufacturing and the advancement of the entire industry chain. But really, after the FX Super One's initial launch, this is only the beginning. The next crucial steps will be product delivery, a series of certification tests, and trial production. I'll be leading the team to give it our all in this new chapter—continuing our relentless execution. In August, we'll also be taking the FX Super One to the Pebble Beach Concours d'Elegance, the luxury car events. This fulfills the promise we made there last August, and we'll be sharing new outcomes from our bridge strategy. For us, attending Pebble Beach every year is not just about showcasing our products, it's about demonstrating our unwavering belief in making the impossible possible. We welcome friends and partners who are interested in joining us. See you next week.' ABOUT FARADAY FUTURE Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit 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 'plan to,' 'can,' 'will,' 'should,' 'future,' 'potential,' 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, Super EAI F.A.C.E., and EAI Embodied AI Agent 6x4 architecture, 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's ability to secure necessary agreements to 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; 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 secure necessary permits at its Hanford, CA production facility; the Company's ability to secure regulatory approvals for the proposed Super One front grill; 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.
