
Joby Aviation Has a Bold Plan to Make Flying Cars Real—Fast
The Santa Cruz, California-based company just unveiled the expansion of its manufacturing facility in Marina, CA, where it now has the capacity to build up to 24 electric air taxis per year. That's two flying cars a month. With additional capacity ramping up in Dayton, Ohio, and test flights already underway in Dubai, the future of urban air mobility is no longer stuck in the concept phase.
The production milestone comes as Joby's aircraft completed piloted test flights in Dubai, marking the start of its commercial market readiness program in the UAE. In partnership with Dubai's Roads and Transport Authority, the company is preparing for passenger operations as early as 2026, a timeline that looks far more realistic than it did even 12 months ago.
'Reimagining urban mobility takes speed, scale, and precision manufacturing,' said Eric Allison, Joby's Chief Product Officer. 'Our expanded footprint, in both California and Ohio, is preparing us to do just that.'
But as the aircraft roll off the line and take to the skies, a harder question looms: Is the world actually ready for mass-scale flying machines?
Unlike many of its eVTOL competitors still hawking mockups and vaporware, Joby is building real, FAA-cleared aircraft with vertical takeoff capabilities, 200 mph top speeds, and near-silent operation. Each aircraft can carry a pilot and four passengers and is intended for short, high-value routes, like from Dubai International Airport to Palm Jumeirah in 12 minutes (a trip that usually takes 45 minutes by car).
At the Marina facility, which now spans over 435,000 square feet, Joby is producing aircraft components using 3D printing, data-driven quality control, and a team trained in part by Toyota engineers, thanks to a deep partnership between the two companies. The factory will also house simulators for pilot training, ground testing areas, and FAA-certification labs.
Over in Dayton, Ohio, birthplace of aviation and now home to Joby's next-generation production line, the company is preparing to eventually build 500 aircraft per year. It's one of the most ambitious reindustrialization efforts by a Silicon Valley startup in recent memory, supported by state grants and a growing Midwestern advanced manufacturing workforce.
While the manufacturing may be American, the first passengers won't be. Joby's launch customer is Dubai, which granted the company exclusive air taxi rights for six years. In return, Joby is working with local aviation authorities to stand up a full commercial air taxi network, starting with a vertiport under construction at Dubai International Airport.
Dubai's buy-in is key. The city has invested heavily in smart mobility, from driverless trains to robotaxis, and now hopes to integrate eVTOL aircraft into its broader transport grid. According to Dubai officials, the air taxis will be a premium service, targeted at those who want fast, seamless mobility between key parts of the city.
'The air taxi will introduce a new premium service for residents and visitors seeking smooth, fast, and safe travel to key destinations across the city,' said Mattar Al Tayer, Director General of Dubai's Roads and Transport Authority. 'The service will also strengthen integration with public transport systems and individual mobility options.'
The word premium is doing a lot of work here. While Joby's aircraft may be clean, quiet, and fast, they are not cheap. At least not yet. With limited seating, piloted flights, and significant regulatory costs, it's likely that early riders will be CEOs, tourists, and the ultra-wealthy, not your average daily commuter.
That raises questions about access, equity, and infrastructure. Will flying cars become another luxury product for elites, while cities continue to neglect ground transportation for everyone else? Or could a mature eVTOL market actually relieve urban congestion and create scalable new forms of public transit?
So far, the answers aren't clear. Joby's aircraft are real. Its timelines are aggressive. But adoption will depend on everything from pricing models and safety standards to public perception and noise tolerance.
With factories humming and flights underway, Joby Aviation may be the first company to industrialize the flying car, not as a sci-fi dream, but as a shippable product. Two aircraft a month. Six this year. Hundreds soon.
It's the kind of milestone that usually marks the start of something big. But like any disruptive technology, what happens next will depend on more than just engineering.
We've figured out how to build flying cars. Now we have to decide what kind of world we want to fly them in.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Faraday Future to Announce Major Breakthrough of its Bridge Strategy on August 16 in Pebble Beach and will Host Various Experiential and Online Activities During Monterey Car Week
FF invites the public to join its "FX Super One F.A.C.E. Co-Creation Challenge" to create your vehicle EAI Avatar though the FF APP and social media platforms. LOS ANGELES, August 07, 2025--(BUSINESS WIRE)--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 a major strategic upgrade for the Company will be announced on August 16th, at Pebble Beach, to kick off the second chapter of FF's Bridge Strategy. This will not only be a major milestone in the evolution of FF's Bridge Strategy, but FF expects that it will also open up a new growth curve for FF. The Announcement will be part of a series of activities that FF and the FX brand will host and participate in, centered around the famed 2025 Monterey Car Week, held in Pebble Beach from August 14-17. Activities will include: Company update and announcementLocation: Pebble Beach, CADate: Saturday August 16 FF & FX Futurists' Experience Monterey Car WeekVehicles included: FF 91 2.0 + FX Super OneEvent: Monterey Car WeekLocation: Pebble Beach, CADate: Friday, August 15 to Sunday, August 17 Online CampaignsJoin the Ride — On the Road or OnlineFF invites you to witness FF 91 and FX Super One as they embark on their scenic journey from Los Angeles to Monterey. FF encourages the public to capture and share their encounters with the FF 91 and FX Super One along the route or during the event in Monterey. Selected photography and video content may be featured across FF and Faraday X official social platforms, offering contributors the opportunity to be part of this exciting event. FX Super One F.A.C.E. Co-Creation ChallengeThe FX Super One made its first global debut in Los Angeles on July 17, revealing the world's first Super EAI F.A.C.E. (Front AI Communication Ecosystem). FF cordially invites the public to join its Co-Creation initiative: Design Its Face. Define Its Soul. Unleash your imagination and upload your creative designs for the Super EAI F.A.C.E. Create your own unique vehicle EAI Avatar for the future—and give every vehicle a soul, emotion, and personality. 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. View source version on Contacts Investors (English): ir@ Investors (Chinese): cn-ir@ Media: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 minutes ago
- Yahoo
VEON 2Q25 Earnings Release: Direct Digital Revenues Up 57% YoY. Solid Execution, Strong Results
VEON 2Q25 Earnings Release: Direct Digital Revenues Up 57% YoY. Solid Execution, Strong Results Dubai, August 7, 2025 VEON 2Q25 Highlights Total revenue growth of 5.9% YoY to USD 1,087 million (11.2% YoY in local currency terms) EBITDA growth of 13.2% YoY to USD 520 million (19.6% YoY in local currency terms) Direct digital revenue growth of 56.6% YoY to USD 180 million (+62.4% YoY in local currency terms), representing 16.5% of revenues for quarter Total cash and cash equivalents and deposits of USD 1,283 million, with USD 206 million at headquarters ('HQ'); and gross debt at USD 4,627 million (increased by USD 250 million QoQ), with net debt excluding lease liabilities at USD 1,962 million (increased by USD 152 million QoQ) LTM Equity Free Cash Flow of USD 611 million, Capex of USD 231 million VEON Ltd. (Nasdaq: VEON), a global digital operator, announces selected financial and operating results for the second quarter ending June 30, 2025. For the second quarter, VEON revenues grew 5.9% year-on-year to USD 1,087 million in reported currency (USD). In local currency terms, 2Q25 growth was 11.2% YoY, exceeding the blended weighted average inflation rate in our operating countries of 8.6% in the quarter, showcasing our ability to implement fair pricing and capturing higher consumer wallet share. VEON's revenue performance was supported by increasingly robust direct digital revenue growth, which rose by 56.6% YoY in reported currency, and by 62.4% YoY in local currency terms. Direct digital revenues comprised 16.5% of total revenues in 2Q25, up from 5.4% a year ago. EBITDA reached USD 520 million, up 13.2% year-on-year in reported currency and growing 19.6% in local currency terms. Capex, at USD 231 million for 2Q25, implies a capex intensity of 21.3% for the quarter and LTM capex intensity of 21.4% (+3.4 p.p. YoY, 18.3% excl. Ukraine) as VEON focused on enhancing network quality and supporting its digital transformation initiatives. Total cash and cash equivalents and deposits as of June 30, 2025 amounted to USD 1,283 million (including USD 326 million related to customer deposits from banking operations in Pakistan) with USD 206 million held at the HQ level. Net debt to EBITDA, excluding lease liabilities, was at 1.32x as of June 30, 2025. Outlook for 2025 VEON is revising its 2025 outlook and now expects local currency revenue growth of 13% to 15% year-on-year, and local currency EBITDA growth of 14% to 16% year-on-year. The Group's capex intensity for 2025 is expected to remain within the 17% to 19% range. VEON's third and final phase of its previously announced share buyback program, which commenced on 17 June 2025, was completed on 01 August 2025. VEON acquired 722,588 ADSs for a total consideration of US$35 million as part of this third phase of buyback. With this, VEON has completed its previously announced (01 Aug 2024) US$100 million share buyback program. Commenting on the results, VEON Group CEO Kaan Terzioglu said: 'VEON has continued its strong momentum into the second quarter of 2025, delivering solid results that reflect both disciplined execution and strategic clarity. 'We are making rapid progress in our digital operator strategy. We welcomed Uklon to the VEON family in April, marking a strategic milestone and our commitment to expanding our digital services footprint and unlocking new growth opportunities. We deliver innovative and locally relevant digital services that enhance our customers' lives every minute of the day. Together, these strategies position VEON as a frontrunner in digital transformation across frontier markets. 'Looking ahead, our teams continue to execute with discipline, and the underlying demand across our markets remains robust. Consequently, we are revising our outlook for 2025 and now expect local currency revenue growth of between 13% to 15% year-on-year and local currency EBITDA growth of between 14% to 16% year-on-year. Capex intensity for 2025 is expected to remain within the range of 17% to 19%. We continue to focus on disciplined execution and innovation to deepen customer impact and enhance long-term shareholder value creation.' Additional information View the full 2Q25 Earnings Release View 2Q25 Results PresentationView 2Q25 Factbook 2Q25 results conference call VEON will also host a results conference call with senior management at 16:00 GST (14:00 CET, 8:00 EST) today. To register and access the event, please click here or copy and paste this link to the address bar of your browser: Once registered, you will receive registration confirmation on the email address mentioned during registration with the link to access the webcast and dial-in details to listen to the conference call over the phone. We strongly encourage you to watch the event through the webcast link, but if you prefer to dial in, then please use the dial-in details. Q&A If you want to participate in the Q&A session, we ask that you select the 'Yes' option on the 'Will you be asking questions live on the call?' dropdown. That will bring you to a page where you can join the Q&A room by clicking 'Connect to meeting'. You will be brought into a zoom webinar where you can listen to the presentation and once Q&A begins, if you have a question, please use the 'raise hand button' on the bottom of your zoom screen. When it is your turn to speak, the moderator will announce your name as well as sending a message to your screen asking you to confirm you want to talk. Once accepted, please unmute your mic and ask your question. You can also submit your questions prior the webcast event to VEON Investor Relations at ir@ About VEON VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: Notice to readers: financial information presented VEON's results and other financial information presented in this document are, unless otherwise stated, prepared in accordance with International Financial Reporting Standards ("IFRS") based on internal management reporting, are the responsibility of management and have not been externally audited, reviewed, or verified. As such, you should not place undue reliance on this information. This information may not be indicative of the actual results for any future period. Notice to readers: impact of the war in Ukraine The ongoing war in Ukraine and the resulting sanctions adopted by the United States, member states of the European Union, the European Union itself, the United Kingdom, Ukraine and certain other nations, countersanctions and other legal and regulatory responses, as well as responses by our service providers, partners, suppliers and other counterparties, and the other indirect and direct consequences of the war have impacted and, if the war, such responses and other consequences continue or escalate, may significantly impact our results and aspects of our operations in Ukraine and may significantly affect our results and aspects of our operations in the other countries in which we operate. We are closely monitoring events in Ukraine, as well as the possibility of the imposition of further legal and regulatory restrictions in connection with the ongoing war in Ukraine and any potential impact the war may have on our results, whether directly or indirectly. Our operations in Ukraine continue to be affected by the war. We are doing everything we can to protect the safety of our employees, while continuing to ensure the uninterrupted operation of our communications, financial and digital services. Disclosure regarding Ukraine Tower Company (UTC) consolidation The financial results presented for Kyivstar as part of VEON Group's consolidated Q2 2025 financial statements include the full consolidation of Ukraine Tower Company LLC ('UTC'), consistent with its current ownership and control structure. However, it should be noted that in connection with the anticipated standalone listing of Kyivstar on Nasdaq, the financial disclosures prepared for the listed entity will exclude UTC, as UTC will not be consolidated within the scope of the listed Kyivstar entity at the time of listing. Disclaimer VEON's results and other financial information presented in this document are, unless otherwise stated, prepared in accordance with International Financial Reporting Standards ("IFRS") and have not been externally reviewed and/or audited. The financial information included in this document is preliminary and is based on a number of assumptions that are subject to inherent uncertainties and subject to change. The financial information presented herein is based on internal management accounts, is the responsibility of management and is subject to financial closing procedures which have not yet been completed and has not been audited, reviewed or verified. Certain amounts and percentages that appear in this document have been subject to rounding adjustments. As a result, certain numerical figures shown as totals, including those in the tables, may not be an exact arithmetic aggregation of the figures that precede or follow them. Although we believe the information to be reasonable, actual results may vary from the information contained above and such variations could be material. As such, you should not place undue reliance on this information. This information may not be indicative of the actual results for the current period or any future period. This document contains 'forward-looking statements', as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by words such as 'may,' 'might,' 'will,' 'could,' 'would,' 'should,' 'expect,' 'plan,' 'anticipate,' 'intend,' 'seek,' 'believe,' 'estimate,' 'predict,' 'potential,' 'continue,' 'contemplate,' 'possible' and other similar words. Forward-looking statements include statements relating to, among other things, VEON's plans to implement its strategic priorities, operating model and development plans; VEON's ability to achieve anticipated performance results, including VEON's growth trajectory and ability to generate sufficient cash flow to meet upcoming obligations; VEON's intended expansion of its digital experience including through technologies such as artificial intelligence; VEON's assessment of the impact of the war in Ukraine, including related sanctions and counter-sanctions, on its current and future operations and financial condition; VEON's assessment of the impact of the political conflict in Bangladesh; future market developments and trends; operational and network development and network investment, including expectations regarding the roll-out and benefits of 3G/4G/LTE networks, as applicable; spectrum acquisitions and renewals; the effect of the acquisition of additional spectrum on customer experience; VEON's ability to realize the acquisition and disposition of any of its businesses and assets as well as the impact of the consolidation of such newly acquired business and assets, like Uklon into VEON's financials and results of operations; VEON's ability to execute its strategic transactions in the timeframes anticipated, or at all ,including VEON's ability to complete the business combination that will result in the listing of Kyivstar on the Nasdaq Stock Market LLC; VEON's ability to realize financial improvements, including an expected reduction of net pro-forma leverage ratio following the successful completion of certain dispositions and acquisitions; its dividends; and VEON's ability to realize its targets and commercial initiatives in its various countries of operation. The forward-looking statements included in this document are based on management's best assessment of VEON's strategic and financial position and of future market conditions, trends and other potential developments. These discussions involve risks and uncertainties. The actual outcome may differ materially from these statements as a result of, among other things: further escalation in the war in Ukraine, including further sanctions and counter-sanctions and any related involuntary deconsolidation of our Ukrainian operations; demand for and market acceptance of VEON's products and services; our plans regarding our dividend payments and policies, as well as our ability to receive dividends, distributions, loans, transfers or other payments or guarantees from our subsidiaries; continued volatility in the economies in VEON's markets; governmental regulation of the telecommunications industries; general political uncertainties in VEON's markets; government investigations or other regulatory actions; litigation or disputes with third parties or regulatory authorities or other negative developments regarding such parties; the impact of export controls and laws affecting trade and investment on our and important third-party suppliers' ability to procure goods, software or technology necessary for the services we provide to our customers, including those that arise as a results of baseline or so called "reciprocal tariffs" imposed in the countries in which we operate; risks associated with data protection or cyber security, other risks beyond the parties' control or a failure to meet expectations regarding various strategic priorities, the effect of foreign currency fluctuations, increased competition in the markets in which VEON operates and the effect of consumer taxes on the purchasing activities of consumers of VEON's services. Certain other factors that could cause actual results to differ materially from those discussed in any forward-looking statements include the risk factors described in VEON's 2024 Form 20-F for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the 'SEC') on April 25, 2025 and other public filings made from time to time by VEON with the SEC. Other unknown or unpredictable factors also could harm our future results. New risk factors and uncertainties emerge from time to time and it is not possible for our management to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Under no circumstances should the inclusion of such forward-looking statements in this document be regarded as a representation or warranty by us or any other person with respect to the achievement of results set out in such statements or that the underlying assumptions used will in fact be the case. Therefore, you are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements speak only as of the date hereof. We cannot assure you that any projected results or events will be achieved. Except to the extent required by law, we disclaim any obligation to update or revise any of these forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made, or to reflect the occurrence of unanticipated events. Contact Information VEONInvestor Relationsir@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Business Wire
4 minutes ago
- Business Wire
Faraday Future to Announce Major Breakthrough of its Bridge Strategy on August 16 in Pebble Beach and will Host Various Experiential and Online Activities During Monterey Car Week
LOS ANGELES--(BUSINESS WIRE)--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 a major strategic upgrade for the Company will be announced on August 16th, at Pebble Beach, to kick off the second chapter of FF's Bridge Strategy. This will not only be a major milestone in the evolution of FF's Bridge Strategy, but FF expects that it will also open up a new growth curve for FF. The Announcement will be part of a series of activities that FF and the FX brand will host and participate in, centered around the famed 2025 Monterey Car Week, held in Pebble Beach from August 14-17. Activities will include: Company update and announcement Location: Pebble Beach, CA Date: Saturday August 16 FF & FX Futurists' Experience Monterey Car Week Vehicles included: FF 91 2.0 + FX Super One Event: Monterey Car Week Location: Pebble Beach, CA Date: Friday, August 15 to Sunday, August 17 Online Campaigns Join the Ride — On the Road or Online FF invites you to witness FF 91 and FX Super One as they embark on their scenic journey from Los Angeles to Monterey. FF encourages the public to capture and share their encounters with the FF 91 and FX Super One along the route or during the event in Monterey. Selected photography and video content may be featured across FF and Faraday X official social platforms, offering contributors the opportunity to be part of this exciting event. FX Super One F.A.C.E. Co-Creation Challenge The FX Super One made its first global debut in Los Angeles on July 17, revealing the world's first Super EAI F.A.C.E. (Front AI Communication Ecosystem). FF cordially invites the public to join its Co-Creation initiative: Design Its Face. Define Its Soul. Unleash your imagination and upload your creative designs for the Super EAI F.A.C.E. Create your own unique vehicle EAI Avatar for the future—and give every vehicle a soul, emotion, and personality. 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.