Faraday Future Announces Launch Event Date for China-U.S. Automotive Bridge Strategy
19 Agosto 2024 - 7:00AM
Business Wire
- FF seeks to leverage its unique bridge value to integrate
the strengths of the U.S. automotive industry with those of Chinese
OEMs and parts suppliers and their respective supply
chains.
Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”,
“Faraday Future”, or “Company”), a California-based global shared
intelligent electric mobility ecosystem company, today announced
that it will hold a launch event for its China-U.S. Automotive
Bridge Strategy on September 19, 2024. The event will provide more
details and an execution plan for the strategy and introduction of
FF’s second automotive brand.
FF’s China-U.S. Automotive Bridge Strategy and second brand
approach position it to leverage cutting-edge AI and software
technologies for its users across multiple market segments,
potentially accelerating FF’s mass-market entry while maintaining
its ultra-luxury offering. FF remains focused on executing its
global strategy and bringing its unique vision of intelligent
electric mobility to a broader audience. The Bridge Strategy marks
a return to a two-brand approach. As part of its dual-home-market
strategy, FF expects to leverage its unique bridge value to
integrate the strengths of the U.S. automotive industry with those
of Chinese original equipment manufacturers (OEMs) and parts
suppliers and their respective supply chains, focusing on the
$20,000 to $80,000 price segment.
“Our Bridge Strategy could introduce a ‘performance capable EV
at a fraction of the price,’ by empowering a second brand with much
of the core technologies used on the $300,000 FF 91,” said Matthias
Aydt, Global CEO of Faraday Future. “A mass-market second brand
could make the ‘AI car of the future’ the AI car of the
people.”
The Company has engaged in discussions with several leading
Chinese OEMs and global suppliers, receiving positive feedback on
how FF could help build a bridge between U.S. and Chinese
automotive industries through industrial coordination and
collaboration. The platform would leverage FF’s expertise and
capabilities in product, technology, regulation processes, along
with its manufacturing plant in Hanford, California.
ABOUT FARADAY FUTURE
Faraday Future is the pioneer of the Ultimate AI TechLuxury
ultra spire market in the intelligent EV era, and the disruptor of
the traditional ultra-luxury car civilization epitomized by Ferrari
and Maybach. FF is not just an EV Company, but also a
software-driven intelligent internet Company. Ultimately FF aims to
become a User Company by offering a shared intelligent mobility
ecosystem. FF remains dedicated to advancing electric vehicle
technology to meet the evolving needs and preferences of users
worldwide, driven by a pursuit of intelligent and AI-driven
mobility.
FORWARD-LOOKING STATEMENTS
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. When used in this
press release, the words “estimates,” “projected,” “expects,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “should,” “future,” “propose” and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements, which
include statements regarding the China-U.S. Automotive Bridge
Strategy, a second brand, and integrating the Company’s AI and
software into a second brand, 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
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 warrant
claims; the success of other competing manufacturers; the
performance and security of the Company’s vehicles; current and
potential litigation involving the Company; the Company’s ability
to receive funds from, satisfy the conditions precedent of and
close on the various financings described elsewhere by the Company;
the result of future financing efforts, the failure of any of which
could result in the Company seeking protection under the Bankruptcy
Code; the Company’s indebtedness; the Company’s ability to cover
future warranty claims; the Company’s ability to use its
“at-the-market” program; insurance coverage; general economic and
market conditions impacting demand for the Company’s products;
potential negative impacts of a reverse stock split; potential
cost, headcount and salary reduction actions may not be sufficient
or may not achieve their expected results; circumstances outside of
the Company's control, such as natural disasters, climate change,
health epidemics and pandemics, terrorist attacks, and civil
unrest; risks related to the Company's operations in China; the
success of the Company's remedial measures taken in response to the
Special Committee findings; the Company’s dependence on its
suppliers and contract manufacturer; the Company's ability to
develop and protect its technologies; the Company's ability to
protect against cybersecurity risks; and the ability of the Company
to attract and retain employees, any adverse developments in
existing legal proceedings or the initiation of new legal
proceedings, and volatility of the Company’s stock price. You
should carefully consider the foregoing factors and the other risks
and uncertainties described in the “Risk Factors” section of the
Company’s Form 10-K filed with the SEC on May 28, 2024, as amended
on May 30, 2024, and June 24, 2024, as updated by the “Risk
Factors” section of the Company’s first quarter 2024 Form 10-Q
filed with the SEC on July 30, 2024, and other documents filed by
the Company from time to time with the SEC.
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version on businesswire.com: https://www.businesswire.com/news/home/20240819521459/en/
Investors (English): ir@faradayfuture.com Investors
(Chinese): cn-ir@faradayfuture.com Media:
john.schilling@ff.com
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