Latest news with #electricmobility
Associated Press
8 hours ago
- Automotive
- Associated Press
Faraday Future Holds First Annual Stockholders' Day, Company Provides FX Product Updates, Confirms FX Super One Launch Timing, and Secures 600 New Deposits from Multi-Channel Network (MCN) Agencies
LOS ANGELES--(BUSINESS WIRE)--Jun 1, 2025-- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ('Faraday Future', 'FF' or 'Company'), a California-based global shared intelligent electric mobility ecosystem company, held its first Annual Stockholders' Day on Saturday, May 31, at the Company's global headquarters in Los Angeles. Attendees included stockholders and other Company guests who experienced Company presentations and updates, and personalized FF and FX vehicle ride and drive experiences. This press release features multimedia. View the full release here: Faraday Future Founder and Co-CEO YT Jia speaks to guests at the Company's first Annual Stockholders' Day, held May 31st at the Company's Los Angeles HQ. The event also offered an open Q&A session with FF executives and a special private dinner after the event for stockholders, offering an exclusive opportunity to engage directly with Company leadership. Words of encouragement from some of the Company's newest B2B partners were also delivered at the event. 'I want to personally thank all of the guests for being here at our very first 'Annual Stockholders' Day. It was a genuine pleasure to extend a welcoming hand to everyone who attended this event,' said Co-CEO YT Jia. 'This was more than just another Company event, it showed our unwavering commitment to stockholder engagement, long-term value creation, and full commitment to our 'Stockholders-First' principle.' FX Product and Brand Updates The Company plans to host the first exclusive offline product launch event for the FX Super One on June 29, tailored for five key groups: FF stockholders and investors; B2B sales partners and prospects; global supply chain partners; media, influencers and KOLs; co-creation officers and celebrities. Subsequently, FX will host a large-scale public launch event on July 17, the 'Super One Online Global Product Launch,' targeting retail consumers and opening up the large-scale online B2C paid pre-orders. FX Super One has now officially entered the parts procurement and production preparation phase. Internally, we've already started the countdown sprint toward having our first production vehicle off-line by year-end. Development of our second model and future products is also progressing steadily and according to plan. The Company is seeing strong momentum with B2B pre-orders for the FX brand. With the latest paid pre-order agreements, totaling 600 units, signed with two MCN agencies: CreatoRev and Good Deal, total binding B2B deposits for FX Super One now cover over 2,500 non-binding pre-orders. This marks significant progress toward FX's goal to disrupt the market dominance of some leading market players such as the Cadillac Escalade. CreatoRev and Good Deal will also collaborate as paid co-creation partners, enhancing the AI-MPV experience. This deep co-creation with leading American MCNs marks a breakthrough and key innovation in FX's Co-Creation Ecosystem Online Direct Sales. Through this, we broke away from influencer advertising and pioneered an end-to-end B2B2C co-creation ecosystem model between an automaker and MCN-affiliated creators, a model that's never been seen before in the global auto industry. At this point, FX's B2B pre-orders now expand to three major categories: FF Par (Partner) program; commercial rental and livery companies; and livestream ecommerce MCN agencies. In the first phase, we are planning to expand our reach across eight U.S. states (California, New York, Florida, Texas, Washington, New Jersey, Neveda, and Massachusetts). FX is expecting to unveil the FX 4 product plan in Q3 2025 and begin accepting pre-orders before year end. Positioned as 'the disruptor of RAV4 in the AIEV era,' the FX 4 is the planned model with the greatest potential to become a true blockbuster and unlock the mainstream market within FX's current product lineup. Company Operation Updates On the user operations front, the Company is accelerating the digitalization, systemization, and IT integration of its user engagement ecosystem, a key accomplishment for the mass production and delivery of FX next year. On the after-sales service front, the Company is advancing the FX Service Par program, working to quickly establish collaborations with major automotive service providers, dealerships, and aftermarket partners. The Company is building a robust internal R&D system, especially centered on bringing much of the software and AI, bringing the core technologies, software, and AI capabilities in our $300,000 flagship FF 91 to the FX product line. In the second half of the year, our voice interaction system based on large language models and the full FF ecosystem of services could be deployed in the planned FX Super One and FX 4. The Company is working to complete the full-vehicle engineering, supply chain integration, testing and validation, mass production readiness, and U.S. regulatory compliance for the Super One and launching the hardware development of the FX 4. FF has successfully built a complete cycle for the FF 91—from product definition to after-sales support. Leveraging our 'Light, Swift, and Empowering' model, FX is able to complete this entire process in less time than the industry average. Middle East Updates As part of FF's global strategy, the Company's Middle East facility in Ras Al Khaimah Economic Zone (RAKEZ) is now ready for occupancy. The local team will be taking over shortly, bringing international production capacity another step closer to reality. In the second half of the year, and contingent on available funding, FX aims to begin production of the FX Super One in the Middle East. The Middle East strategy presents four key values: 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 FF91, exemplifies its vision for luxury, innovation, and performance. The new 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 future partnerships, joint ventures and fundraising, plans and projections for the FX brand, including by not limited to the planned Super One and FX 4, future FX models, future FX reservations, use of capital and 10b5-1 purchase plans, 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 ability to convert pre-orders into sales, none of which are binding; market demand for MPVs and MPV rentals; 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 design and develop EREV technology; the Company's ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license third-party range extender technology and/or 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; and the Company's ability to secure necessary permits at its Hanford, CA production facility; the potential impact of tariff policy; each executive's ability to cancel or amend his 10b5-1 purchase plan; potential volume limitations under Rule 144 or Rule 145 of the Securities Act of 1933, as amended, or Regulation M; the possible suspension of purchases due to a trading suspension, legal, regulatory or contractual restrictions; a subsequent determination that a 10b5-1 plan does not comply with Rule 10b5-1 or other applicable securities laws; 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 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 CONTACT: Investors (English):[email protected] Investors (Chinese):[email protected] Media:[email protected] KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ENVIRONMENT LUXURY ALTERNATIVE VEHICLES/FUELS EV/ELECTRIC VEHICLES AUTOMOTIVE GENERAL AUTOMOTIVE AUTOMOTIVE MANUFACTURING MANUFACTURING GREEN TECHNOLOGY RETAIL SOURCE: Faraday Future Intelligent Electric Inc. Copyright Business Wire 2025. PUB: 06/01/2025 08:30 PM/DISC: 06/01/2025 08:31 PM
Auto Express
3 days ago
- Automotive
- Auto Express
New single-motor Skoda Enyaq SportLine 85 goes the distance with 356-mile range
After launching initially with only a dual-motor layout, Skoda has added single-motor power to the Enyaq's SportLine trim with prices starting from £47,260. Available to order from 12 June, the Enyaq SportLine 85 also comes in Coupé form, which ups the price to £49,160 – meaning the single-motor SportLine 85 comes in at £1,500 cheaper than the dual-motor SportLine 85x. Advertisement - Article continues below The single-motor version features the same 77kWh battery, so range has been improved. While it can't quite match the regular Enyaq Edition 85's 359-mile and 365-mile range figures (for SUV and Coupé), the SportLine 85 goes further than the 85x, with 354 miles for the SUV and 356 miles for the sleeker Coupé. Power comes from the same electric motor found elsewhere in the Enyaq single-motor range – a rear-mounted unit with 282bhp and 545Nm of torque (the same total bhp output you get in the dual-motor). The SportLine 85 completes 0-60mph in 6.5 seconds, which is exactly the same as the dual-motor – as is the 111mph top speed. Charging speeds stay the same as other 77kWh Enyaqs, with a 135kW rate enabling a 10-80 per cent top-up in around 28 minutes. Despite the cost saving over the 85x, the SportLine 85 gets the same equipment as standard. This includes 20-inch alloy wheels, SportLine bumpers front and rear and gloss black exterior accents. There's also sports suspension that lowers the Enyaq by 15mm at the front and 10mm at the rear plus 'progressive dynamic steering' taken from the range-topping vRS. Inside, you'll find a head-up display, front sport seats, a sports steering wheel and an upgraded sound system from Skoda's audio partner Canton. Want the latest car news in your inbox? Sign up to the free Auto Express email newsletter... Find a car with the experts Electric car drivers won't ever go back to petrol or diesel Electric car drivers won't ever go back to petrol or diesel Editor Paul Barker thinks the EV transition is coming whether we like it or not Car Deal of the Day: Bag the iconic Volkswagen Golf GTI for under £300 a month Car Deal of the Day: Bag the iconic Volkswagen Golf GTI for under £300 a month It's arguably been the daddy for 50 years, and can be snatched for a low price right now. The VW Golf GTI is our Deal of the Day for 27 May The MG HS just got hot! New 221bhp Hybrid+ model joins line-up The MG HS just got hot! New 221bhp Hybrid+ model joins line-up The Hybrid+ gives the MG HS another tool to take on the Dacia Bigster
Yahoo
6 days ago
- Business
- Yahoo
Faraday Future Founder and Co-CEO, YT Jia, Shares Weekly Investor Update
This week's updates include an additional 600 FX pre orders, the strengthening of the Company's Govt. Affairs capabilities and news about FF's UAE operations buildup. LOS ANGELES, May 27, 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 shared a weekly business update from YT Jia, Founder and Co-CEO of FF. "Now we're at the CEO Weekly Update #004. Each weekly update is more than just a report, it's a moment of self-reflection. The act of writing things down forces us to beware of problem-solving and reminds us to stay outcome driven. It also motivates us to deliver good news, show real progress, and plan the week ahead with greater intention—and share all of it with you. Now for this week's progress. We have some good news. Start with S1 User Ecosystem: We have secured another binding deposit agreement, which includes a non-binding reservation and a non-refundable deposit for 600 units, from Los Angeles-based integrated auto service provider NEW PBB AUTO. The deal also brings FX's total paid B2B deposits to 1,900 units. Following this progress, we are also expecting comprehensive cooperation spanning several key areas: co-creation ecosystem direct sales, after-sales services, user operations and services. In addition to becoming a co-creation partner, NEW PBB AUTO is expected to serve as the first FX Par (Partner) in Los Angeles. FX Par is our offline user operations and service system, designed to work in tandem with our co-creation ecosystem online direct sales system, forming a closed-loop user acquisition and user operations model. FX Par partners can enjoy multiple advantages: revenue sharing, asset-light operations, fast return cycles, and strong capital appreciation potential. The FX Par system will also follow a zonal management. For example, the County of Los Angeles contains 88 cities, and Greater LA encompasses 184. NEW PBB AUTO will be responsible for offline operations and services in six cities within LA County, sharing various revenue and growth of that region. Through the FX Par model, we are building a multi-state offline network for user operations and services. We welcome like-minded partners across California and in our seven Phase-1 focus states to join FX Par. As our "Dream Partners," you will have the opportunity to co-create within and share the benefits of the U.S. AIEV mobility ecosystem. Reach out to us at: sales@ FX Par inherits the explosive momentum and disruptive power of the original Le Par model that reshaped the market in China. We hope this proven model, reborn for the AIEV era, can thrive in the U.S.—delivering new energy and blue-ocean value that is co-created and shared with our FX Par partners. Moving on to Government Relations under S7 Capability and System Build-Up: We are happy to announce that California's Speaker Emeritus Anthony Rendon has officially joined FF as a senior consultant. He will play an even more pivotal role in strengthening our government affairs capabilities—assisting the company in public sector engagement, policy incentives, tariff strategy, and more, thereby advancing the implementation of our Global Automotive Industry Bridge Strategy. Going to S5 Finance and Capital Markets: Our much-anticipated 10b5-1 executive stock purchase plans have passed all compliance reviews. The first group of executives — involving $560,000 for myself and $50,000 for Jerry Wang — have been approved. Under SEC compliance rules, there will be a 90-day cooling-off period, after which our broker will automatically execute the stock purchases. You'll see official legal documents from the company later this week. Turning to S2 and S3: Product & Technology: The FX Super One is moving swiftly beyond vehicle engineering and into procurement and production prep. Our team is now working daily with key partners — including several S Tier One suppliers. S6 Middle East: Last week marked a milestone in our "Third Pole" strategy: We held a handover ceremony in Ras Al Khaimah, UAE, for our regional factory and operations facility — a critical step forward. This facility will support the production of both FF and FX models, serving the broader GCC market with plans to eventually expand into Europe and North Africa. Next up, challenges and reflections: Looking back, one of our key gaps has been under-preparation in states outside California, largely due to earlier funding limitations. Now that we've entered the execution sprint for the FX strategy, we must pick up the pace and extend our market footprint from California to the seven key U.S. states. This shift is essential, but it comes with real challenges and puts serious pressure on our relatively lean team. That said, some things can only be validated by doing — and we're fully committed to pushing forward. We believe in execution, and we believe we will make it work. Looking ahead to next week's focus, besides pushing forward the production prep of FX, let's take a look at: S5: Capital and finance: We'll be hosting our first Annual Stockholders' Day this coming Saturday 5/31. We'll unveil multiple updates and next-step plans, and more detailed plans for the FX Super One's official launch. Attendees will have the opportunity to test ride several FX prototype mule vehicles and contribute directly to our co-creation process. If you haven't registered yet — we welcome you to join us! S2–S3: Product & Technology: Next week, we'll be welcoming major S Tier One suppliers from China for strategic discussions. We also hosted several supplier visits earlier this week. These frequent, high-level exchanges continue to prove our unique value as a cross-border bridge. Finally, during next week's Dragon Boat Festival holiday in China, we'll be releasing our first Monthly Investor Update. Stay tuned — and 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 FF91, 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 production capacity expansion, the FX brand, the Super One MPV, future FX models, future FX reservations, expansion into new states and markets, and production and sales goals, 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 expand its production capacity, which will be time-consuming and costly; market demand for MPVs and MPV rentals; 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 design and develop EREV technology; the Company's ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license third-party range extender technology and/or 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; and the Company's ability to secure necessary permits at its Hanford, CA production facility; 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 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: Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Faraday Future Founder and Co-CEO, YT Jia, Shares Weekly Investor Update
This week's updates include an additional 600 FX pre orders, the strengthening of the Company's Govt. Affairs capabilities and news about FF's UAE operations buildup. LOS ANGELES, May 27, 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 shared a weekly business update from YT Jia, Founder and Co-CEO of FF. "Now we're at the CEO Weekly Update #004. Each weekly update is more than just a report, it's a moment of self-reflection. The act of writing things down forces us to beware of problem-solving and reminds us to stay outcome driven. It also motivates us to deliver good news, show real progress, and plan the week ahead with greater intention—and share all of it with you. Now for this week's progress. We have some good news. Start with S1 User Ecosystem: We have secured another binding deposit agreement, which includes a non-binding reservation and a non-refundable deposit for 600 units, from Los Angeles-based integrated auto service provider NEW PBB AUTO. The deal also brings FX's total paid B2B deposits to 1,900 units. Following this progress, we are also expecting comprehensive cooperation spanning several key areas: co-creation ecosystem direct sales, after-sales services, user operations and services. In addition to becoming a co-creation partner, NEW PBB AUTO is expected to serve as the first FX Par (Partner) in Los Angeles. FX Par is our offline user operations and service system, designed to work in tandem with our co-creation ecosystem online direct sales system, forming a closed-loop user acquisition and user operations model. FX Par partners can enjoy multiple advantages: revenue sharing, asset-light operations, fast return cycles, and strong capital appreciation potential. The FX Par system will also follow a zonal management. For example, the County of Los Angeles contains 88 cities, and Greater LA encompasses 184. NEW PBB AUTO will be responsible for offline operations and services in six cities within LA County, sharing various revenue and growth of that region. Through the FX Par model, we are building a multi-state offline network for user operations and services. We welcome like-minded partners across California and in our seven Phase-1 focus states to join FX Par. As our "Dream Partners," you will have the opportunity to co-create within and share the benefits of the U.S. AIEV mobility ecosystem. Reach out to us at: sales@ FX Par inherits the explosive momentum and disruptive power of the original Le Par model that reshaped the market in China. We hope this proven model, reborn for the AIEV era, can thrive in the U.S.—delivering new energy and blue-ocean value that is co-created and shared with our FX Par partners. Moving on to Government Relations under S7 Capability and System Build-Up: We are happy to announce that California's Speaker Emeritus Anthony Rendon has officially joined FF as a senior consultant. He will play an even more pivotal role in strengthening our government affairs capabilities—assisting the company in public sector engagement, policy incentives, tariff strategy, and more, thereby advancing the implementation of our Global Automotive Industry Bridge Strategy. Going to S5 Finance and Capital Markets: Our much-anticipated 10b5-1 executive stock purchase plans have passed all compliance reviews. The first group of executives — involving $560,000 for myself and $50,000 for Jerry Wang — have been approved. Under SEC compliance rules, there will be a 90-day cooling-off period, after which our broker will automatically execute the stock purchases. You'll see official legal documents from the company later this week. Turning to S2 and S3: Product & Technology: The FX Super One is moving swiftly beyond vehicle engineering and into procurement and production prep. Our team is now working daily with key partners — including several S Tier One suppliers. S6 Middle East: Last week marked a milestone in our "Third Pole" strategy: We held a handover ceremony in Ras Al Khaimah, UAE, for our regional factory and operations facility — a critical step forward. This facility will support the production of both FF and FX models, serving the broader GCC market with plans to eventually expand into Europe and North Africa. Next up, challenges and reflections: Looking back, one of our key gaps has been under-preparation in states outside California, largely due to earlier funding limitations. Now that we've entered the execution sprint for the FX strategy, we must pick up the pace and extend our market footprint from California to the seven key U.S. states. This shift is essential, but it comes with real challenges and puts serious pressure on our relatively lean team. That said, some things can only be validated by doing — and we're fully committed to pushing forward. We believe in execution, and we believe we will make it work. Looking ahead to next week's focus, besides pushing forward the production prep of FX, let's take a look at: S5: Capital and finance: We'll be hosting our first Annual Stockholders' Day this coming Saturday 5/31. We'll unveil multiple updates and next-step plans, and more detailed plans for the FX Super One's official launch. Attendees will have the opportunity to test ride several FX prototype mule vehicles and contribute directly to our co-creation process. If you haven't registered yet — we welcome you to join us! S2–S3: Product & Technology: Next week, we'll be welcoming major S Tier One suppliers from China for strategic discussions. We also hosted several supplier visits earlier this week. These frequent, high-level exchanges continue to prove our unique value as a cross-border bridge. Finally, during next week's Dragon Boat Festival holiday in China, we'll be releasing our first Monthly Investor Update. Stay tuned — and 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 FF91, 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 production capacity expansion, the FX brand, the Super One MPV, future FX models, future FX reservations, expansion into new states and markets, and production and sales goals, 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 expand its production capacity, which will be time-consuming and costly; market demand for MPVs and MPV rentals; 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 design and develop EREV technology; the Company's ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license third-party range extender technology and/or 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; and the Company's ability to secure necessary permits at its Hanford, CA production facility; 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 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 while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Zawya
7 days ago
- Automotive
- Zawya
XPENG Egypt & Raya Auto win 2024 New Star Market Award at XPENG Global Partner Conference 2025.
In a landmark achievement for Egypt's automotive sector, XPENG Egypt and its exclusive distributor, Raya Auto, have been awarded the prestigious New Star Market performance award at the XPENG Global Partner Conference 2025, held during the Shanghai International Auto Show. This award celebrates the brand's rapid success and Raya Auto's exceptional performance in introducing smart, sustainable mobility in the region. This recognition comes just months after XPENG's mid-2024 debut in Egypt and directly reflects Raya Auto's exceptional efforts in introducing and establishing XPENG as a pioneering force in the country's smart mobility landscape. Raya Auto is Egypt's first dedicated importer and dealership of pure electric passenger vehicles and the first to launch XPENG in both Egypt and North Africa. With this milestone the company has established itself as a leader in the country's shift toward clean and intelligent transportation, and XPENG'S introduction aligns with national sustainability targets and the global transition to electric mobility. Raya Auto, a portfolio company of Raya Holding for Financial Investments, is backed by the group's strategic direction and financial strength. This milestone reflects Raya Holding's broader vision to foster innovation and sustainability across its diverse business sectors. 'This achievement reflects our team's unwavering dedication to delivering innovative electric mobility solutions to Egyptian consumers,' said Mohamed El Naggar, CEO of Raya Auto. 'We're proud of this recognition, but it's only the beginning of our journey to transform transportation in Egypt.'
