- Dr. Gu will be responsible for executing the FF and FX vehicle
development strategy and driving the success of the products for
both brands.
- Dr. Gu's career includes senior roles at Ford Motor Company in
the U.S., as well as President of the Automobile Engineering
Research Institute at Chery Automobile, and President of the Global
Engineering and Research Institute at BAIC Group in China.
Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”,
“Faraday Future”, or the “Company”), a California-based global
shared intelligent electric mobility ecosystem company, today
announced that Dr. Lei Gu, a pioneering figure in China's
automotive industry and an expert in vehicle development and safety
technology, will join FF as President of FX Global EV Research and
Development (R&D) Center and Vehicle Line Executive (VLE) for
the FX 6.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20241203614381/en/
Faraday Future Appoints Veteran
Automotive Technology Expert and Industry Leader Dr. Lei Gu to
President of FX Global EV R&D Center (Photo: Business Wire)
Dr. Gu will focus his efforts on the overall EV R&D, which
includes powertrain, body, chassis, interior and exterior, and
thermal management, etc. Together, the IAI (Internet, Autonomous
Driving, Intelligence) R&D team and the EV R&D team
collaborate closely on delivering solutions that redefine the
overall EV experience.
Dr. Gu joins FF with over two decades of extensive experience in
automotive R&D and management, having held prominent roles in
U.S., Chinese and international corporations. His deep
understanding of the automotive sector, combined with his expertise
in technology and management, qualifies him to oversee the FF and
FX EV product development. FF intends to leverage his experience
with mobilizing global resources and talent to progress FF’s
business strategies for the FX brand and enhance the Company’s
product strength.
At Ford Motor Company in the U.S., Dr. Gu focused on the
research and experimental management of vehicle structure safety
and passenger protection systems. His leadership in optimization
and reliability earned him a reputation as a leader in automotive
collision safety.
In China, Dr. Gu held key roles such as President of the
Automobile Engineering Research Institute at Chery Automobile, Vice
President and Chief Technology Officer of BAIC Motor, and President
of the Global Engineering and Research Institute at BAIC Group,
where he was instrumental in the development and acquisition of
core automotive technologies. He received his PhD from Northwestern
University at Evanston, Illinois.
“We are confident that Dr. Gu's arrival will significantly
elevate both FF and FX’s product development in our target
markets,” said Matthias Aydt, Global CEO of FF. “His leadership
will be pivotal in building a team that integrates class-leading
products, global talents, innovative technology, and manufacturing,
propelling FF and FX towards a leadership position in the EV
market.
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 Dr. Gu’s anticipated contributions to
FF and FX, FF and FX product development, and FF and FX market
positioning, 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
the necessary funding to execute on the FX strategy, which will be
substantial; the Company’s ability to secure agreements with OEMs
that are necessary to execute on the FX strategy; 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 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241203614381/en/
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
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