Latest news with #electricmobility
Globe and Mail
7 days ago
- Automotive
- Globe and Mail
FFAI Marks Fourth Anniversary of Nasdaq Listing with Commitment to Accelerate FX Product Execution and Delivery, Uphold 'Stockholders First' Principle, and Continue the Counterattack Against Potential Illegal Short Selling
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 the celebration of its fourth anniversary as a publicly listed company on Nasdaq. Marking this milestone, the Company reaffirmed its commitment to driving breakthroughs in both its business and capital fundamentals. FF also pledged to accelerate the execution and delivery of products under its second brand, FX, while advancing its dual-brand strategy. Upholding its 'Stockholders First' philosophy, the Company remains focused on delivering greater value to stockholders by expediting efforts to win the Counterattack Against Potential Illegal Short Selling and maximizing stockholder interests. This press release features multimedia. View the full release here: Faraday Future Marks Fourth Anniversary with a Reversal in Both Business and Capital Fundamentals Since its successful listing in 2021, FF has remained focused on disruptive innovation in the intelligent electric mobility ecosystem and is now advancing from the AIEV era to the next-generation EAI EV era. Following the return of the founding team—including Founder YT Jia—in April this year, the Company has implemented a comprehensive 'Ten Punch Combo' transformations, achieving a qualitative leap across key areas such as product development and delivery, manufacturing, supply chain, brand building, organizational governance, and system and capability buildup. On July 17, FF successfully unveiled in Downtown Los Angeles the FX Super One, alongside the Super EAI F.A.C.E. (Front AI Communication Ecosystem), and the FF EAI Embodied AI Agent 6x4 Architecture. The debut of the FX Super One made a striking market impression, fundamentally redefining the traditional luxury executive mobility experience long dominated by models such as the Cadillac Escalade. Compared to where the Company stood at the time of its IPO four years ago, FF has now achieved a dual turnaround in both business and capital fundamentals. The Company has established a strategic framework centered around dual home markets and dual DNA in U.S. and China, while also deploying its 'Third Pole' in Middle East. Through consistent delivery on its promises, more transparent communications, and a proactive and pragmatic corporate culture, FF has regained a vote of confidence from its stockholders. Since its debut, the FX Super One has attracted significant market attention, with over 10,000 paid pre-orders from both B2B and B2C customers. FF continues to refine its Co-Creation Ecosystem Online Direct Sales system, expand its multi-channel sales strategy, and elevate brand influence. The Company's 'B2B2C' co-creation ecosystem model now covers five core sectors: FX Par (Partners), car rental companies, live e-commerce MCN agencies, real estate brokerages, and home office industry. On July 21, the Company also announced a strategic partnership with HabitTrade, a global multi-market brokerage and digital asset infrastructure platform. Through this collaboration, FF seeks to build an integrated ecosystem combining EAI mobility, Web3, blockchain technology, crypto, and stablecoin applications. This initiative aims to bridge Web2 and Web3, connect on-chain and off-chain value flows, and expand the convergence between the real and virtual economies—creating new value for both users and the industry. In addition, the Company recently completed a new round of financing commitment totaling $105 million, which is expected to nearly cover the launch requirements of the FX Super One. Global institutional investor BlackRock has increased its holdings in FFAI for four consecutive quarters, reaching 5.39 million shares, signaling growing recognition and confidence among top-tier capital in the outlook of both FF and FX. Initial Victory in the Counterattack Against Potential Illegal Short Selling; FF Reaffirms Its Commitment to Protecting Stockholder Interests Since the appointment of Founder YT Jia as FF's Co-CEO, the Company has achieved initial success in its efforts to combat potential illegal short selling. The Company previously issued a public update on the identified illegal short selling and online market manipulation targeting FFAI, noting that certain individuals and online accounts involved had issued public apologies and taken down all content suspected of contributing to such manipulative activities. Recently, the Company identified additional indications of potential illegal short selling and the deliberate dissemination of false or misleading information aimed at disrupting the market. FF has issued a legal letter to the parties involved and reserves all rights to pursue legal remedies. On the occasion of its fourth anniversary as a publicly listed company, FF reaffirms its unwavering commitment to the 'Stockholders First' philosophy and its effort to continue to closely monitor the market for signs of potential illegal short selling and will take all necessary legal and regulatory actions to defend the rights and interests of its stockholders. Any attempts to undermine FFAI or harm investor interests will be met with appropriate consequences. FF also calls on regulators and the broader investment community to remain vigilant against such bad-faith efforts to distort capital markets. The Company urges collective resistance against the malicious attacks and defamatory campaigns launched by irresponsible entities targeting innovative enterprises. 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; uncertainties regarding the Company's legal remedies related to illegal short selling, market manipulation, or false information, and the unpredictability of judicial interpretations or regulatory responses; 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.
Globe and Mail
21-07-2025
- Business
- Globe and Mail
YT Jia Shares Weekly Investor Update: Faraday X Unveils Two Groundbreaking Global-First Products Along with a Transformative Technology Architecture in Los Angeles on July 17
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 Global Co-CEO YT Jia Shares Weekly Investor Update: Faraday X Unveils Two Groundbreaking Global-First Products Along with a Transformative Technology Architecture in Los Angeles on July 17 'Hey everyone, welcome to Investor Weekly Issue 12. This week was huge — besides the big global initial launch on July 17 for our two game-changing products, the FX Super One and the Super EAI F.A.C.E. system, plus the FF EAI Embodied AI Agent 6x4 Architecture, we've got some really exciting news to share. What's New This Week: Today we're starting with Government affairs updates in terms of S7 System and Capability Build-Up. Some great news on the policy front too for our Bridge Strategy. This week, Donald Trump Jr. recently spoke about the U.S. economy and industry, giving a shout-out to homegrown AI and tech innovators like FF as well as multinational giants like Rolls-Royce and Samsung, recognizing their role in driving U.S. manufacturing upgrades and economic growth. His recognition effectively positions us as a strategic contributor and may help to create a more favorable policy environment for FF, FX, and our Global Auto Industry Bridge Strategy. And here's another big one: BlackRock, the world's largest asset manager, recently filed their 13G as of July 17, showing they've boosted their FFAI shares almost 7 times from last quarter. As of June 30, 2025, they own about 5.39 million shares, up from 780,000. That's four quarters straight of increasing their stake! BlackRock's significant increase in holdings shows the top institutional investors increased institutional interest in Faraday Future and belief in FF and FX's business future. Going to S5 Finance and Capital updates: We just secured $105 million in new cash financing commitment, which will help fund the Company's aggressive growth strategy, including the launch of the FX Super One and advancement of the Company's position in the AIEV Market. Huge thanks to our investors for their trust and support — we're really living up to the commitment 'Promises made, promises kept.' Going back to S1, User Ecosystem: This week, we hosted the 717 Global Initial Launch in Downtown LA, set against the city's most beautiful skyline. Super One and Super EAI F.A.C.E. finally got to meet the world. We also officially opened consumer pre-orders for the FX Super One. We offer sincere thanks to everyone who witnessed and co-created this milestone. We are also deeply grateful to our S Tier One suppliers, dedicated partners, and loyal users who have always put their trust in us. Our choice of venue was deliberate. We selected a unique location with breathtaking views of the Los Angeles skyline. I think we are also the first auto company ever to launch a product there. This was about more than a beautiful sunset, it represents the 'dream chaser' DNA FF carries as a company born right here in LA. In fact, just one day before the launch event. We nearly lost our venue due to a series of challenges. We were almost forced to switch to a backup plan. But in the end, true to FF's 'Never Give Up' spirit, the team refused to give up. And they overcame every obstacle to make the impossible possible—once again. I've always believed that achieving anything meaningful requires exactly that kind of determination and faith. FF Forward, Never Give Up. I'll see you all 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.
Yahoo
18-07-2025
- Automotive
- Yahoo
Porsche head announces further cost-cutting programme for German firm
Porsche chief executive Oliver Blume is preparing the sports car manufacturer's employees for another round of tough cost-cutting measures. "The situation remains serious, and the industry is developing very dynamically," Blume wrote in a letter to the workforce, excerpts of which were made available to dpa on Friday. "In the second half of 2025, employer and employee representatives will now negotiate a second structural package to secure the company's long-term performance," he wrote. It was initially unclear whether further job cuts were planned. At the beginning of the year, the company announced that it wanted to cut 1,900 jobs in the Stuttgart region by 2029 in a socially responsible manner. Job security for Porsche AG employees is guaranteed until 2030. Redundancies for operational reasons are ruled out until then, so the group must rely on voluntary departures. The business model that has sustained the company for many decades no longer works in its current form, Blume continues in his letter. "Our framework conditions have deteriorated massively in a short period of time." In addition, electric mobility is growing much more slowly in many markets than the carmaker and many experts had expected. "All of this is hitting us hard. Harder than many other car manufacturers," his letter says. The company's problems are reflected in the business figures. After the slump in 2024, Porsche's profit fell further in the first quarter of 2025. Operating profit amounted to €760 million ($885 million) – 40.6% less than a year earlier. At €8.86 billion, revenue was also below the previous year's figure. 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
Zawya
16-07-2025
- Automotive
- Zawya
Chery to launch new EV brand Icaur in South Africa in 2026
Icaur, a new energy vehicle (NEV) brand under China's Chery Group, has confirmed it will officially enter the South African market in the first quarter of 2026. The brand revealed its intentions following its recent debut at the 2025 Festival of Motoring. Image supplied Founded in 2023, Icaur positions itself as an expressive, lifestyle-driven EV brand that aims to deliver clean mobility without compromising on personality or design. Its local entry marks the Chery Group's continued investment in the region, and Icaur's first foray into the African market. 'As the world embraces a new era of clean mobility, South African motorists deserve access to electrified vehicles that are as expressive as they are intelligent,' says Shannon Gahagan, national brand and marketing manager at Icaur South Africa. 'Icaur brings a new energy to the market, combining advanced EV technology with a playful, user-centric spirit.' International traction, local intent Backed by Chery's global manufacturing and R&D resources, Icaur has gained attention internationally for its bold, retro-futuristic designs and tech-enabled platforms. In South Africa, the brand aims to offer accessible electric mobility while engaging younger, lifestyle-focused buyers. The brand is built around four global pillars: - Category innovation: Introducing new vehicle formats and user experiences - Playful co-creation: Allowing customers to personalise and influence product development - Emotional design: Blending nostalgic styling cues with modern functionality - Lifestyle ecosystem: Expanding beyond vehicles into gear, content and digital experiences Dealership plans under way Icaur South Africa is finalising its national retail strategy, with the first dealerships expected in key metros. The brand targets a network of 15 outlets by launch. It also plans to roll out lifestyle activations and product updates in the run-up to its market debut. 'South Africa is a country with a rich outdoor lifestyle, vibrant urban culture, and an increasingly energy-conscious mindset,' Gahagan adds. 'These are the communities Icaur is built for.' Details on the first Icaur models set for South Africa will be shared ahead of the 2026 launch. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Times of Oman
15-07-2025
- Automotive
- Times of Oman
"Tesla has arrived in the right city and right state" says Maharashtra CM at Mumbai showroom opening
Mumbai: Maharashtra CM Devendra Fadnavis on Tuesday inaugurated the 'Tesla Experience Centre in Bandra Kurla Complex (BKC), Mumbai and welcomed Tesla's arrival to India. The minister said, "I welcome Tesla here in Mumbai. Tesla has opened an experience centre here, and it is a statement that Tesla has arrived and it's a statement they Tesla has arrived in the right city and right state." "It is a matter of great joy for us that Tesla has launched its first experience in India in Mumbai. Tesla is establishing a logistics and servicing system here. Four big charging stations are also being established by them. I am happy that Tesla chose Maharashtra as the state has become a leader in electric mobility. Tesla is launching its Model Y in India. Maharashtra has the most dynamic electric mobility. policy...I believe Maharashtra will be a preferred destination when they decide to do manufacturing in India," he added. During the inauguration of the Tesla Experience Centre, Devendra Fadnavis also highlighted the company's global recognition. "Tesla is not just a car or a car company, it is all about design, innovation and sustainability, for which Tesla stands as a testament, and I think that is a one and only reason it is loved globally," he said. The Chief Minister also mentioned the rising demand for electric Mobility in Maharashtra and India. He noted, "We have now in India and especially in Maharashtra, a very big and robust market for electric mobility, we are also a manufacturing hub of electric mobility now, but I think Tesla is going to change the entire market." Towards the end of his speech, the CM assured that "Mumbai and Maharashtra are going to treat Tesla well.... consider us as partners of your (Tesla) journey." Earlier reports had suggested that Tesla was keen to import its vehicles into the country and sell them through its showrooms, rather than establishing manufacturing facilities. However, the company has maintained a quiet stance about its detailed operational strategy for India. In a significant move earlier this year, Tesla began its hiring process in India, indicating the company's preparations for entering the domestic market were gaining pace. Tesla CEO Elon Musk had previously expressed interest in investing in India, but he had also pointed out that high import duties were a major India's new EV policy, which was announced recently, offered reduced import duties and additional incentives to attract global EV manufacturers, potentially paving the way for Tesla's entry. In April this year, Prime Minister Narendra Modi held a telephonic conversation with Elon Musk and discussed opportunities for collaboration in technology and innovation. PM Modi had also met Musk earlier in February during his visit to the United States. With the launch of its first showroom in Mumbai, Tesla is expected to test the Indian market and build a base for its premium electric vehicles in one of the world's fastest-growing automobile markets.
