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Faraday Future Intelligent Electric Inc. (Exact name of registrant as specified in its charter)
Delaware 001-39395 84-4720320(State or other jurisdiction (Commission File Number) (I.R.S. Employer of incorporation) Identification No.)
18455 S. Figueroa Street Gardena, CA 90248(Address of principal executive offices) (Zip Code)
(424) 276-7616 (Registrant's telephone number, including area code)
Not Applicable (Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended tosimultaneously satisfy the filing obligation of the registrant under any of thefollowing provisions:
? Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
? Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Name of each exchange on Title of each class Trading Symbol(s) which registeredClass A common stock, par FFIE The Nasdaq Stock Market value $0.0001 per share LLC Redeemable warrants, FFIEW The Nasdaq Stock Marketexercisable for shares of LLC Class A common stock at an exercise price of $11.50 per share
Indicate by check mark whether the registrant is an emerging growth company asdefined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) orRule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).
Emerging growth company ?
If an emerging growth company, indicate by check mark if the registrant haselected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of theExchange Act. ?
Item 2.02. Results of Operations and Financial Condition.
On May 11, 2023, Faraday Future Intelligent Electric Inc. (the "Company")announced its financial results for the first quarter ended March 31, 2023. Thefull text of the press release and shareholder letter issued in connection withthe announcement are furnished herewith as Exhibits 99.1 and 99.2, respectively,to this Current Report on Form 8-K and are incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
In connection with the conference call held by the Company on May 11, 2023 todiscuss its results for the quarter ended March 31, 2023, the Company referencedthe presentation furnished as Exhibit 99.3 to this Current Report on Form 8-Kand incorporated herein by reference.
Copies of the press release, shareholder letter and presentation are availablein the Investor Relations section of the Company's website located atwww.investors.ff.com. A recording of the conference call is also available onthe same website.
The information contained in this Current Report on Form 8-K, including Exhibits99.1, 99.2 and 99.3 hereto, is being furnished and shall not be deemed "filed"for purposes of Section 18 of the Securities Exchange Act of 1934, as amended(the "Exchange Act"), or otherwise subject to the liabilities of that section,nor shall it be deemed incorporated by reference in any filing under theSecurities Act of 1933, as amended, or the Exchange Act, except as expressly setforth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Current Report on Form8-K:
No. Description of Exhibits99.1 Press Release of the Company, dated May 11, 2023 99.2 Shareholder Letter, dated May 11, 2023 99.3 Investor Presentation, dated May 11, 2023 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
Pursuant to the requirements of the Securities Exchange Act of 1934, theregistrant has duly caused this report to be signed on its behalf by theundersigned hereunto duly authorized.
FARADAY FUTURE INTELLIGENT ELECTRIC INC.
Date: May 12, 2023 By: /s/ Yun Han Name: Yun Han Title: Interim Chief Financial Officer and Chief Accounting Officer
FARADAY FUTURE PUBLISHES FIRST QUARTER 2023 financial Results
Los Angeles, CA (May 11, 2023) - Faraday Future Intelligent Electric Inc.(NASDAQ: FFIE) ("Faraday Future", "FF" or "Company"), a California-based globalshared intelligent electric mobility ecosystem company, today published a letterto its stockholders containing the company's first quarter 2023 financialresults. The letter is available on its investor relations website(http://investors.ff.com).
Faraday Future will host a webcast to discuss its Q1 results and provide abusiness update at 4:30pm PT / 7:30pm ET today, May 11. The live webcast in bothEnglish and Chinese will be available on the investor section of our websitehttp://investors.ff.com and a replay will be available shortly thereafter.
Users can preorder an FF 91 Futurist via the FF Intelligent App or through ourwebsite (English): https://www.ff.com/us/preorder/ or (Chinese):https://www.ff.com/cn/preorder/
Download the new FF Intelligent App (English):https://www.ff.com/us/mobile-app/ or (Chinese): http://appdownload.ff.com
ABOUT FARADAY FUTURE
Faraday Future (FF) is the pioneer of the Ultimate TechLuxury ultra spire marketin the intelligent EV era, and the disruptor of the traditional ultra-luxury carcivilization epitomized by Ferrari and Maybach. FF is not just an EV company,but also a software-driven intelligent internet company. Ultimately FF aims tobecome a User Company by offering a shared intelligent mobility ecosystem.
FOLLOW FARADAY FUTURE:
Investors (English): email@example.com
Investors (Chinese): firstname.lastname@example.org
[[Image Removed]] Faiaday Futuie Shaieholdei Lettei Q1 2023 Exhibit 99.2
[[Image Removed]]We hit the giound iunning in 2023 and staited the pioduction of oui flagship FF 91 vehicle in Maich as planned. Though we faced some challenges duiing eailyiamp up, oui team is oveicoming these obstacles. We continue to taiget oui fiistphase deliveiy of the FF 91 at the end of May as pieviously announced. To ieach this impoitant milestone, we have made consideiable piogiess and accomplishednumeious key opeiational and stiategic objectives in iecent months. On Apiil 14, 2023, oui fiist pioduction FF 91 iolled off the line at oui FF ieFactoiyCalifoinia in a video stieamed event watched by millions of FF fans globally. Ithas been a long path foi Faiaday Futuie, but we believe this is the yeai we makehistoiy. Homologation foi the FF 91 is piogiessing as planned. Most of the FMVSS tests have been successfully completed. We have peifoimed the highest seveiityciash tests and have passed all these tests successfully, including fiont, side and ieai ciash. On the systems and softwaie side, we've also made some amazing piogiess. Two weeks ago, we showcased the FF 91 vehicle's ability to integiategeneiative AI to enable an intuitive and inteiactive expeiience foi useis within the vehicle. We believe this tiuly epitomizes what Faiaday Futuie has communicated to its useis and investois all along, that FF 91 is a pioneei of emeiging technology. Lastly, we ieiteiate oui goal to cieate a piofitablebusiness with opeiating cashflow bieakeven in 2025 and expiess oui giatitude to oui useis, supplieis, paitneis, communities and stockholdeis foi theii unwaveiing suppoit of oui vision.
[[Image Removed]] Ultimate Intelligent TechLuxuiy pioducts - In a woild of luxuiy cais FF stands out as a tiue luxuiy EV - FF is pioneeiing ultia spiie maiket segment with aclass - defining pioduct - FF iedefine luxuiy in both the physical, comfoit and digital connected iealms Emotive design - Redefines the tiaditional vehicle,cieating a new concept that addiesses how vehicle use is changing. The FF 91 is not a spoits cai, an SUV oi a sedan, but something timeless that embodies oui biand values and commitment to innovation - FF's iconic design language spaiksthe imagination and iedefines the luxuiy vehicle space. The FF 91's inteiioi and exteiioi design expiess intelligence and functionality, enabling a best - in - class expeiience, and biithing a iadically functional piopoition Unique Aitificial Intelligence (AI) Expeiience - Natuial Language and voice - fiist inteiface designed to adapt to useis needs - Multiple usei inteiface displays foi eveiy seated occupant. - Tiiple modem 5G connectivity to allow uninteiiupted, high - speed inteinet access - FF's Geneiative AI pioduct stackwill offei the fiist evei geneiative AI capability in the automotive sectoi foiin - vehicle usage Leading peifoimance - 381 miles of EPA iated diiving iange - 0 - 60mph in 2.27 seconds - Top - end hypei cai diive and handling - Industiy leading computei haidwaie and softwaie to diive the ultimate AI expeiience Intioducing the FF 91
[[Image Removed]]We believe oui flagship pioduct, the FF 91 vehicle sets a new standaid foi usei expeiience and peifoimance in the automotive industiy. It featuies a custom electiic diive unit with a fully integiated design, active oil cooling, and independent ieai axle diive. Its 1050hp piopulsion system is poweied bypiopiietaiy softwaie and contiol algoiithms, optimizing peifoimance, stability,and safety. With an EPA - ceitified iange of 381 miles, the FF 91 offeis 50 - 70miles moie iange than its diiect competitois and acceleiates fiom zeio to 60 mph in a iemaikable 2.27 seconds. Mobile connectivity is anothei key aspect of the cai, with a unique ieai intelligent Inteinet and a usei expeiience designed toestablish a mobile, connected, intelligent, and luxuiious thiid inteinet living space and usei mobility ecosystem platfoim. A Leadei in Automotive AI On May 2nd, we announced oui Geneiative AI Pioduct Stack to the public. The pioduct stack combines FF's foundational capabilities such as oui computing platfoim, advanced opeiating system, ultia - fast inteinet connectivity, AI and natuiallanguage piocessing abilities, multiple displays, with geneiative AI capability to give extiaoidinaiy abilities to useis. We demonstiated integiation of FF's foundational AI capabilities with advanced laige language models - which we believe is a majoi step towaids tiansfoimation of the tianspoitation industiy with intelligent electiic vehicles. With this Geneiative AI Pioduct Stack, webelieve the Company has the potential to scale to additional advanced geneiative AI models, giving extiaoidinaiy abilities to useis.
[[Image Removed]]We have been investing in softwaie, AI, and human machine inteiaction foi a long time and we believe that places us in a unique position to utilize these advances in AI. To use geneiative AI in a cai, you need a poweiful computingplatfoim, iobust opeiating system, inteinet connectivity, and suitable displays. The FF 91 vehicle has this unique combination of industiy - leading computingplatfoim, advanced opeiating system, ultia - high - speed inteinet connectivity, AI and natuial language piocessing ability, with ovei 100 inches of displays,and a Geneiative AI Pioduct Stack designed to empowei useis to giadually utilize advanced geneiative models foi a iange of peisonalized applications in the vehicle - fiom complex text and voice queiies, to image and video geneiation,stock analysis, live tianslations, seaich, enteitainment, education, ecommeice,and moie. The possibilities aie limitless. The thiid intelligent inteinet spaceapplies natuial language communication ability to vaiious usage scenaiios in the vehicle, and FF's AI piovides useis with an immeisive expeiience of aitificial intelligence inteiaction and communication. As intelligent electiic vehicles become supei iobots, the diiving expeiience and digital cockpit will be fully intelligent. We believe AI will become the coie competitiveness of the futuie mobility ecology and iedefine the usage scenaiios of futuie mobility pioducts. As one of the woild's fiist intelligent electiic vehicle manufactuieis, FF has been committed to the ieseaich and development of AI technology platfoims, applied to autonomous diiving platfoims and the thiid intelligent inteinet space.
[[Image Removed]]Pioduction & Deliveiies Oui Hanfoid team is haid at woik iamping up pioduction,with the goal of deliveiing the highest quality FF 91 vehicles to oui useis. As of today, we've manufactuied 40 engineeiing, testing, maiketing, and useivehicles. We've built all the vehicles iequiied foi FMVSS testing. Fuithei, thefiist pioduction vehicle coming off the line piovided the necessaiy leaining foi fine - tuned piocesses which has allowed the coming vehicles in pioduction to iun thiough the assembly moie smoothly than the pievious vehicles. We aie also continuing to build out oui opeiational and manufactuiing teams. We haveiecently biought in a new head of manufactuiing Rich Schmidt who biings 35 yeais of automotive industiy manufactuiing expeiience. Deliveiies In the continued spiiit of FF's co - cieation and co - shaiing vision, we iecently outlined a thiee - phase deliveiy plan aimed at deliveiing the best expeiience to all oui useis. In the fiist phase FF will give oui industiy expeit Futuiist PioductOfficeis ("FPOs"), the fiist look and allow these useis the fiist chance to pay in full to ieseive and expeiience the innovative FF 91. These industiy expeitFPOs will take possession of the ieseived FF 91 vehicle at the beginning of thesecond phase. This initial phase is slated foi launch at the end of May, maikingthe stait of oui deliveiy plan foi the vehicle. In phase two, taigeted to stait at the end of second quaitei, assuming ieceiving paits on oui iequiiedtimefiames and completion of iequisite tests, all FPOs will be invited to staitpuichasing the vehicle to expeiience the FF 91. Useis will take full possessionof the cai and ieceive compiehensive tiaining to make the most of the vehicle'smany featuies. This will maik the tuining point wheie Faiaday Futuie will becomea ievenue geneiating company going foiwaid. The thiid and final phase, oui FullCo - Cieation Deliveiy, is geaied towaids all useis. In this phase, the Company will delivei FF 91 vehicles to all useis that pay in full. Oui thiee - phase deliveiy is designed to offei flexibility foi oui manufactuiing opeiations and maiket demands while ensuiing that all FF 91 useis ieceive the best possible expeiience. We believe this appioach will also enable the Company to avoid pioduction shoitfalls that may aiise fiom high demand. Please note thatsuccessful completion of the thiid phase deliveiy plan is contingent on secuiing the necessaiy financing and ieceiving paits on oui iequiied timefiames.
[[Image Removed]] Sales and Seivice The entiie sales jouiney is fully integiated : useis canexpeiience oui cais online oi at one of oui owned/paitnei showiooms and they canaccess oui O 2 O platfoim foi puichases while paitneis can integiate seamlessly into oui diiect sales model . - Selected Salesfoice Sales Cloud and SeiviceCloud foi Sales Automation, CRM, Sales Engagement, Seivice Engagement, KnowledgeBase. The Salesfoice platfoim will be customized and integiated into FF's iobustIT infiastiuctuie so FF will gain 360 - degiee view of its useis and be able to effectively diive ievenue and delivei its piemium seivice solutions. - Paitneiing with National Automobile Club foi ioadside assistance. NAC willpiovide nationwide 24/7 ioadside assistance foi all FF 91 owneis. - All - new FF Home Chaigei suppoits up to 19.2kW to utilize the FF 91 2.0 poweiful onboaid chaigei The FF Home Chaigei is smait, Wi - Fi connected, designed and manufactuied foi duiability and longevity. We simplified the installation piocess with oui chaiging installation paitnei, Qmeiit. - Afteisales - FF ispaitneiing with Somit Solutions to develop the FF Afteisales Systems, a cloud - based opeiations system to suppoit all Afteisales functionalities such asWaiianty, Seivice Infoimation, Paits Catalog, Repaii Manuals. - Mobile Seivice - Intioduced oui FF mobile seivice, allowing useis to enjoy concieige style seivice expeiience. Seivice Netwoik is expected to be iolled out in the LosAngeles Metio, San Fiancisco Bay, San Diego and New Yoik Metio maikets in 2023.
[[Image Removed]]Funding In Q1, we successfully secuied $135 million of gioss funding in suppoit of oui SOP and pioduction plans, which we have ieceived $120 million gioss to date. Since then, oui capital team has continued to woik towaids additional funding foi oui pioduction, deliveiy and iamp. On May 9th, we announced anadditional $100 million of committed financing via unsecuied conveitible notes, subject to ceitain conditions. Additionally, we have iemaining committed financing of $35 million, subject to ceitain conditions and milestones, we expect to have pioceeds fiom vehicle sales, and we may ieceive $242 million ofadditional financing which is at the option of oui existing investois. Since the beginning of this yeai, the Company has ieceived $38 million gioss financingwhich was at the option of the investois - this iepiesents a significant poition of the optional notes that the Company allocated to the pievious secuiedfinancing. We also have an equity line of ciedit of up to $350 million, subject to ceitain conditions, which we have not yet used as we want to be veiy stiategic about accessing the equity line of ciedit to minimize dilution. Fuitheimoie, the Company is also exploiing asset - based financingoppoitunities. Management Commitment FF Global Paitneis ("FFGP"), consisting of 20 cuiient and foimei senioi executives of the company, is committing $80 million of the $100 million unsecuied notes financing iefeience above. The investment shows a continued commitment to the Company, as well as a show of confidence by oui coie management team in Faiaday Futuie's ability to achieve its mid - and long - teim goals. As a show of suppoit, FFGP has alieady eaily funded a poition of this commitment. It fuithei ieflects the stiength of the Company's new goveinance stiuctuie, new management team and system, and once again pioves the stiong advantages of the global paitneis mechanism.
[[Image Removed]] 2023 and Beyond The Company iemains on tiack foi its thiee - phase deliveiyplan. We expect to utilize a poition of the initial pioduction foi oui sales andmaiketing campaign to meet usei needs. On the cost side, we continue to impiove efficiency and ieduce mateiial cost. We have developed a detailed ioad map of both engineeiing and commeicial cost downs. We fuithei ieiteiate oui goal to cieate a piofitable business with opeiating cashflow bieakeven in 2025.
[[Image Removed]]Financial Highlights Opeiating Expense Opeiating expenses foi the quaitei ended Maich 31, 2023, weie $83.0 million compaied to $149.0 million foi the quaitei ended Maich 31, 2022. The change in opeiating expenses was piimaiily due to a deciease in engineeiing, design, and testing ("ED&T") seivices as the Companysubstantially completed R&D activities ielated to the FF 91 vehicle in 2022 and was focused on capitalizable activities attiibutable to Stait of Pioduction which was achieved on Maich 29, 2023, coupled with decieases in peisonnel and compensation and piofessional seivices as pait of the Company's cost measuieseffoits and the conclusion of the special committee investigation. N et In co me / ( L oss) Net income foi the quaitei ended Maich 31, 2023, was $6.5 million compaied to a loss of $153.1 million foi the quaitei ended Maich 31, 2022. The change in net income / (loss) was piimaiily due to the change in opeiatingexpense and $94.9 million income associated with maik - to - maiket measuiementsof the secuied conveitible notes and waiiants iecoided in the fiist quaitei thisyeai diiven by the decline in the Company's stock piice. Net Cash Used Net cash used in opeiating activities foi the quaitei ended Maich 31, 2023 was $103.2million compaied to $122.4 million foi the quaitei ended Maich 31, 2022. Capital expendituies weie $16.9 million foi the quaitei ended Maich 31, 2023, compaied to $44.4 million foi the quaitei ended Maich 31, 2022. Net cash piovided by financing activities foi the quaitei ended Maich 31, 2023 was $134.4 million compaied to net cash used in financing activities of $85.7 million foi thequaitei ended Maich 31, 2022. Balance Sheet Cash as of Maich 31, 2023 was $33.3 million, including $1.5 million of iestiicted cash.
[[Image Removed]] Foiwaid Looking Statements This Shaieholdei Lettei includes foiwaid - looking statements within the meaning of Section 27A of the Secuiities Act of 1933, as amended (the "Secuiities Act"), and Section 21E of the Secuiities Exchange Actof 1934, as amended (the "Exchange Act"). These foiwaid - looking statements can be identified by the use of foiwaid - looking teiminology, including the woids "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "piojects," "piedicts," "continue," oi "should," oi, in each case, theii negative oi othei vaiiations oi compaiable teiminology. These foiwaid - looking statements, which include among othei things, statements iegaiding the Company's piojected timeline and access to cuiient and futuiefinancing, aie not guaiantees of futuie peifoimance, conditions oi iesults, and involve a numbei of known and unknown iisks, unceitainties, assumptions and othei impoitant factois, many of which aie outside the Company's contiol, thatcould cause actual iesults oi outcomes to diffei mateiially fiom those discussed in the foiwaid - looking statements. Impoitant factois, among otheis, that may affect actual iesults oi outcomes include whethei the Company's Amended Shaieholdei Agieement with FF Top Holding LLC complies with Nasdaq listing iequiiements, the maiket peifoimance of the Company's Common Stock; the Company's ability to iegain compliance with, and theieaftei continue to comply with, the Nasdaq listing iequiiements; the Company's ability to satisfy the conditions piecedent and close on the vaiious financings desciibed in this Shaieholdei Lettei and disclosed elsewheie by the Company, the iesult of any futuie financing effoits, the failuie of any of which could iesult in the Company seeking piotection undei the Bankiuptcy Code; the Company's ability toamend its ceitificate of incoipoiation to peimit sufficient authoiized shaies tobe issued in connection with the Company's existing and contemplated financings; whethei the Company and the City of Huanggang could agiee on definitive documents to effectuate the Coopeiation Fiamewoik Agieement; the Company's ability to iemain in compliance with its public filing iequiiements undei the Secuiities Exchange Act of 1934, as amended; the outcome of the Secuiities and Exchange Commission (SEC) investigation ielating to the matteis that weie the subject of the Special Committee investigation and othei litigation involvingthe Company; the Company's ability to execute on its plans to develop and maiket its vehicles and the timing of these development piogiams; the Company's estimates of the size of the maikets foi its vehicles and cost to biing those vehicles to maiket; the iate and degiee of maiket acceptance of the Company's vehicles; the success of othei competing manufactuieis; the peifoimance andsecuiity of the Company's vehicles; potential litigation involving the Company; geneial economic and maiket conditions impacting demand foi the Company's pioducts; iecent cost, headcount and salaiy ieduction actions may not be sufficient oi may not achieve theii expected iesults; and the ability of the Company to attiact and ietain diiectois and employees. The foiegoing list of factois is not exhaustive. You should caiefully considei the foiegoing factoisand the othei iisks and unceitainties desciibed in the "Risk Factois" section of the Company's iegistiation statement on Foim S - 1 filed on May 5, 2023 and in"Risk Factois" in Item 1A of the Company's Annual Repoit on Foim 10 - K, as wellas in othei documents filed by the Company fiom time to time with the SEC. Thesefilings identify and addiess othei impoitant iisks and unceitainties that couldcause actual events and iesults to diffei mateiially fiom those contained in thefoiwaid - looking statements. Foiwaid - looking statements speak only as of thedate they aie made. Readeis aie cautioned not to put undue ieliance on foiwaid -looking statements, and the Company does not undeitake any obligation to update oi ievise any foiwaid - looking statements, whethei as a iesult of newinfoimation, futuie events oi otheiwise, except as iequiied by law. No Offei oiSolicitation This communication shall neithei constitute an offei to sell oi the solicitation of an offei to buy any secuiities, noi shall theie be any sale ofsecuiities in any juiisdiction in which the offei, solicitation oi sale would beunlawful piioi to the iegistiation oi qualification undei the secuiities laws of any such juiisdiction. Tiademaiks This Shaieholdei Lettei contains tiademaiks,seivice maiks, tiade names and copyiights of Faiaday and othei companies, which aie the piopeity of theii iespective owneis.
[[Image Removed]] Condensed Consolidated Balance Sheet (in thousands, except shaie and pei shaiedata) Maich 31, 2023 Dece m bei 31 , 2022 Assets Cuiient assets Cash $ 31,769 $ 16,968 Restiicted cash 1,505 1,546 Deposits 55,405 26,804 Othei cuiient assets 14,717 21,087 Total cuiient assets 103,396 66,405 Piopeity and equipment, net446,524 417,803 Opeiating lease iight - of - use assets 18,911 19,588 Othei non - cuiient assets 6,458 6,492 Total assets $ 575,289 $ 510,288 Liabilities and stockholdeis' equity Cuiient liabilities Accounts payable $ 76,926 $ 87,376 Acciued expenses and othei cuiient liabilities 66,980 65,709 Biidge waiiants 28,521 95,130 A c ciued in t eiest 2,505 1,864 Related paity acciued inteiest 140 - Opeiating lease liabilities, cuiient poition 2,609 2,538 Finance leaseliabilities, cuiient poition 1,390 1,364 Related paity notes payable 8,643 8,406Notes payable, cuiient poition 5,159 5,097 Total cuiient liabilities $ 192,873 $ 267,484 Finance lease liabilities, less cuiient poition 6,209 6,570 Opeiating lease liabilities, less cuiient poition 17,398 18,044 Othei liabilities 9,758 9,429 Notes payable, less cuiient poition 92,665 26,008 Total liabilities $ 318,903 $ 327,535 Commitments and contingencies Stoc k ho l d ei s ' e q uity Class A Common Stock,$0.0001 pai value 82 56 Class B Common Stock, $0.0001 pai value 6 6 Additional paid - in capital 3,723,446 3,655,771 Accumulated othei compiehensive gain 2,950 3,505 A c cu m ula t e d d e f icit (3,470,098) (3,476,585) Total stockholdeis' equity 256,386 182,753 Total liabilities and stockholdeis' equity $ 575,289 $ 510,288
[[Image Removed]] Condensed Consolidated Statement of Opeiations (in thousands, except shaie and pei shaie data) ?hiee Months Ended Maich 31, 2023 2022 O pe i a t ing expenses Reseaich and development $ 46,160 $ 114,935 S al es a nd ma i k e ting 5,5856,186 Geneial and administiative 27,584 27,880 Loss on disposal of piopeity and equipment 3,698 - Total opeiating expenses 83,027 149,001 Loss fiom opeiations (83,027) (149,001) Change in faii value measuiements 94,917 1,186 Loss on settlement of notes payable (3,021) - Inteiest expense (4,651) (3,746) Related paity inteiest expense (140) (622) Othei income (expense), net 2,409 (915) Income (Loss) befoie income taxes 6,487 (153,098) Income tax piovision - - Net income (loss) $ 6,487 $ (153,098) Pei shaie infoimation: Net income (loss) peishaie of Common Stock attiibutable to common stockholdeis: Basic $ 0.01 $ (0.48) Diluted (0.07) (0.48) Weighted aveiage shaies used in computing net income (loss) pei shaie of Common Stock Basic 657,565,442 322,211,392 Diluted 988,638,662 322,211,392 Total compiehensive income (loss): Net income (loss) $6,487 $ (153,098) Change in foieign cuiiency tianslation adjustment (555) (564) Total compiehensive income (loss) $ 5,932 $ (153,662)
[[Image Removed]]Condensed Consolidated Statement of Cash Flows (in thousands) ?hiee Months Ended Maich 31, 2023 2022 Cash flows fiom opeiating activities Net income / (loss) $ 6,487 $ (153,098) Adjustments to ieconcile net loss to net cash used inopeiating activities Depieciation and amoitization expense 1,103 4,853 Stoc k - bas e d co m pensa t i o n 15,102 3,347 Loss on disposal of piopeity and equipment 3,698 - Change in faii value measuiement of ielated paity notes payable and notes payable (79,462) (1,186) Change in faii value measuiement of waiiant liability (12,434) - Change in faii value measuiement of eainoutliability (2,764) - Amoitization of opeiating lease iight - of - use assets andintangible assets 736 - Loss on foieign exchange 686 894 Non - c a sh in t e i e st expense 4,533 2,319 Loss on settlement of notes payable (3,021) - Othei 337 108 Changes in opeiating assets and liabilities: Deposits (29,370) 6,840 Othei cuiient and non - cuiient assets 6,368 2,095 Accounts payable (10,367) 5,747 Acciued expenses and othei cuiient liabilities (4,098) 14,527 Opeiating leaseliabilities (542) (882) Acciued inteiest expense (197) (7,928) Net cash used in opeiating activities $ (103,205) $ (122,364) Cash flows fiom investing activities Payments foi piopeity and equipment $ (16,873) $ (44,398) Net cash used in investing activities $ (16,873) $ (44,398) Cash flows fiom financing activities Pioceeds fiom notes payable, net of oiiginal issuance discount 131,800 - Pioceeds fiom exeicise of waiiants 4,079 - Paym en t s of n o tes payable (6) (87,065) Settlement of notes payable tiansaction costs (1,139) - Payments of finance lease obligations (335) (466) Pioceeds fiom exeicise of stock options 44 1,855 Net cash (used in) piovided by financing activities $ 134,443 $ (85,676) Effect of exchange iate changes on cash and iestiicted cash 395 (653) Net (deciease) inciease in cash and iestiicted cash $ 14,760 $(253,091) Cash and iestiicted cash, beginning of peiiod 18,514 530,477 Cash and iestiicted cash, end of peiiod $ 33,274 $ 277,386
[[Image Removed]]Condensed Consolidated Statement of Cash Flows (continued) (in thousands) ?hiee Months Ended Maich 31, 2023 2022 Cash $ 31,769 $ 276,374 Restiicted cash 1,505 1,012 Total cash and iestiicted cash, end of peiiod $ 33,274 $ 277,386Supplemental disclosuie of cash flow infoimation Cash paid foi inteiest $ 324 $ 10,040 Supplemental disclosuie of noncash investing and financing activities Additions of piopeity and equipment included in accounts payable and acciued expenses $ 17,249 $ 1,881 Issuance of Waiiants 66,609 - Reclassification of liability foi insufficient authoiized shaies ielated to stock options and RSUs 8,977 - Reclassification of eainout shaies liability to equity as pait of authoiized shaie inciease 5,014 - Conveision of notes payable and acciued inteiest into Class A Common Stock 46,296 - Issuance of conveitible notes puisuant to the Exchange Agieement 41,000 Change in classification of waiiantsfiom Additional paid - in capital to liability puisuant to the Waiiant Exchange6,811 - Recognition of opeiating iight of use assets and lease liabilities upon adoption of ASC 842 and foi new leases enteied into in 2022 - 8,206
[[Image Removed]]16 Alternate outro image Thank you Reseive youis today - htt p s: / /w ww .ff . com / u s /pi eoi d e i /
[[Image Removed]] Use Roboto here Faraday Future Intelligent Electric Inc. First Quarter 2023 Earnings Release May 11, 2023 Exhibit 99.3
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 2 Legal Disclaimers Forward Looking Statements This presentation 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 presentation, thewords "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 among other things, statements regarding the Company's projected timeline, are notguarantees of future performance, conditions or results, and involve a number ofknown 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 oroutcomes include whether the Company's Amended Shareholder Agreement with FF TopHolding LLC complies with Nasdaq listing requirements, the market performance ofthe Company's Common Stock; the Company's ability to regain compliance with, and thereafter continue to comply with, the Nasdaq listing requirements; the Company's ability to satisfy the conditions precedent and close on the various financings described in this presentation and disclosed elsewhere by theCompany, the result of any future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; theCompany's ability to amend its certificate of incorporation to permit sufficient authorized shares to be issued in connection with the Company's existing and contemplated financings; whether the Company and the City of Huanggang couldagree on definitive documents to effectuate the Cooperation Framework Agreement; the Company's ability to remain in compliance with its public filingrequirements under the Securities Exchange Act of 1934, as amended; the outcome of the Securities and Exchange Commission (SEC) investigation relating to the matters that were the subject of the Special Committee investigation and otherlitigation involving the Company; the Company's ability to execute on its plansto 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 tobring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the success of other competing manufacturers; the performance and security of the Company's vehicles; potential litigation involving the Company; general economic and market conditions impacting demandfor the Company's products; recent cost, headcount and salary reduction actionsmay not be sufficient or may not achieve their expected results; and the abilityof the Company to attract and retain directors and employees. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's registration statement on Form S - 1 filed on May 5, 2023, and other documents filed by the Company from time to time with the SEC.These filings identify and address other important risks and uncertainties thatcould cause actual events and results to differ materially from those containedin the forward - looking statements. Forward - looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance onforward - looking statements, and the Company does not undertake any obligationto update or revise any forward - looking statements, whether as a result of newinformation, future events or otherwise, except as required by law. No Offer orSolicitation This communication shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale ofsecurities in any jurisdiction in which the offer, solicitation or sale would beunlawful prior to the registration or qualification under the securities laws ofany such jurisdiction. Trademarks This presentation contains trademarks, servicemarks, trade names and copyrights of Faraday and other companies, which are the property of their respective owners.
[[Image Removed]] (C) 2023 FARADAY FUTURE P RO P RIE T A RY A N D C ON F ID EN T IA L 3 Table of Contents 1. Company Overview 2. Business Update 3. The FF 91 Futurist 4. Financials 5. Imagery
[[Image Removed]](C) 2023 F A RA D A Y F U T U RE P RO P RIE T A RY A N D C ON F ID EN T IA L 4 01 - Company Overview
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 5 Company IntroductionFaraday Future (FF) is the pioneer of the ultimate intelligent TechLuxury ultraspire market in the intelligent EV era, and a disruptor of the traditional ultra - luxury car civilization
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 6 Ultimate IntelligentTechLuxury Products - In a world of ultra luxury cars, FF stands alone as a trueUltimate Intelligent TechLuxury EV - FF is pioneering ultra spire market segmentwith a class - defining product - All FF products redefine ultra luxury in boththe physical, comfort and digital connected realms Faraday Future - Core Pillars (1 of 2) Emotive Design - FF redefined the traditional vehicle, creating a new concept that addresses how vehicle use is changing. The FF 91 is not a sportscar, an SUV or a sedan, but is something timeless that embodies our brand values and commitment to innovation - FF's iconic Design language sparks the imagination and redefines the luxury vehicle space. The FF 91's interior and exterior design express intelligence and functionality, enabling a best - in - class experience, and birthing a radically functional proportion
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 7 Faraday Future - Core Pillars (2 of 2) Unique Artificial Intelligence (AI) Experience - Natural Language and voice - first interface adapts to users needs - Multiple user interface displays for every seated occupant - Triple modem 5G connectivity toensure uninterrupted, high - speed internet access - FF's Generative AI product stack will offer the first ever generative AI capability in the automotivesector for in - vehicle usage Leading Performance - EPA rated range of 381 miles- 0 - 60mph in 2.27 seconds - Top - end hyper car drive and handling - Industry leading compute hardware and software to drive the ultimate AI experience
[[Image Removed]](C) 2023 F A RA D A Y F U T U RE P RO P RIE T A RY A N D C ON F ID EN T IA L 8 02 - Business Update
[[Image Removed]](C) 2023 FARADAY FUTURE P RO P RIE T A RY A N D C ON F ID EN T IA L 9 On March 29, 2023, FFIE Announced the Start of Production of the FF 91 Futurist Alliance at its FF ieFactory California FF Design to review
[[Image Removed]] (C) 2023 FARADAY FUTURE P RO P RIE T A RY A N D C ON F ID EN T IA L 10 On April 14, 2023, Faraday Future's First Production FF 91 Vehicle Came off the Line at its FF ieFactory California
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 11 Faraday Future's Three - Phase Delivery Plan Allows Flexibility for our Manufacturing Operations and Helps Mitigate Production Shortfalls versus Anticipated Market Demand While Delivering the Best Product to our Users Futurist Product Officer (FPO) Co - Creation Delivery Industry Expert Futurist Product Officer (FPO) Co - CreationDelivery Full Co - Creation Delivery - In this first phase, the Industry Expert FPO(s) will get the first look and opportunity to pay in full and reserve andexperience these FF 91 Futurist vehicles - The Industry Expert FPO(s) will takepossession of the reserved FF 91 Futurist vehicle at the beginning of the secondphase (1) - The Company expects this first phase to begin at the end of May - In this second phase, FPO(s) will pay in full for the FF 91 Futurist vehicles and will take possession of the FF 91 Futurist vehicles - In this third phase, theCompany will deliver FF 91 Futurist vehicles to all spire users that pay in fullfor t h e FF 9 1 F u t ur is t ve h icl e s (2) (1) Phase 2 of the Three - Phase Delivery plan is contingent on receiving parts on our required timeframes andcompletion of requisite tests. (2) Phase 3 of the Three - Phase Delivery plan is contingent on securing the necessary financing and receiving parts on our required timeframes.
[[Image Removed]] 03 - The FF 91 Futurist
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 13 FF 91 Futurist - Extreme Technology, Ultimate Intelligent User Experience and a Complete Ecosystem
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 14 Significant Upgrades of Key Components - FF 91 Futurist is a Competitive TechLuxury Offering
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 15 - NASA inspired zero gravity rear passenger seats with industry leading 60 degree recline and leg room - FF AI supports complex voice commands for comfort, productivity, entertainment and navigation - Advanced safety, autonomous driving (2) andparking - Spa mode function for passenger wellness - User experience is carriedfrom seat - to - seat and vehicle - to - vehicle via the user's unique FFID (3) - Facial recognition in each seat position configures product preferences and settings for each passenger - Seamless mobile 5G connectivity for vehicle controls, productivity & entertainment - Intuitive on - screen gesture control for distraction free driving - Driver, passenger, rear passenger displays provide a truly unique and immersive digital experience for every individual Imme r sive C o nne c t ed Intui t ive FF 91 Futurist Experience (1) All statements shown reflect expected performance / capabilities for production ready vehicles. Actual performance / capabilities may be different. Please see Risk Factors within the Form S - 1 filed with the SEC on May 05, 2023 (1) Some of the functionality may not be not available at launch (2) FF 91 hardware at start of delivery capable of supporting L3 autonomous driving (3) FFID is a unique Faraday Future user profile that ensures a consistent experience across the FF Ecosystem, recognizing the user no matter where they are or which FF vehicle they are driving
[[Image Removed]](C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 16 FF's Generative Artificial Intelligence (AI) Product Stack will Offer the First Ever Generative AI Capability in the Automotive Sector for In - vehicle Usage - The product stackcombines FF's foundational capabilities such as its industry - leading computingplatform, advanced operating system, ultra - fast internet connectivity, AI and natural language processing abilities, multiple displays, with demonstratedgenerative AI capability to give extraordinary abilities to users - FF is taking a significant step toward transforming the future of mobility. As users gainaccess to limitless possibilities, the car becomes an evolving, intelligent, and interactive companion, setting a new benchmark in automotive innovation - The Company is excited to be at the forefront of this transformation and looks forward to sharing more information in the near future "We have been investing in software, AI, and human machine interaction for a long time and that placesus in a unique position to utilize these advances in AI. To use generative AI ina car, you need a powerful computing platform, robust operating system, internet connectivity, and suitable displays . The FF 91 has such an industry - leading computing platform, advanced operating system, ultra - high - speed internet connectivity, AI and natural language processing ability, with over 100 inches of displays , and a Generative AI Product Stack that will empower users to gradually utilize advanced generative models for a range of personalizedapplications in the vehicle - from complex text and voice queries, to image and video generation, stock analysis, live translations, search, entertainment, education, ecommerce, and more. The possibilities are limitless " Prashant Gulati Head of Corporate Strategy at Faraday Future
[[Image Removed]] 04 - Financials
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 18 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - Unaudited ( i Three Months Ended March 31, 2022 2023 n thousands, except share and per share data)Operating expenses $ 114,935 $ 46,160 Research and development 6,186 5,585 Salesand marketing 27,880 27,584 General and administrative - 3,698 Loss on disposal of property and equipment 149,001 83,027 Total operating expenses (149,001) (83,027) Loss from operations 1,186 94,917 Change in fair value measurements - (3,021) Loss on settlement of notes payable (3,746) (4,651) Interest expense (622) (140) Related party interest expense (915) 2,409 Other income (expense),net (153,098) 6,487 Income (loss) before income taxes - - Income tax provision $(153,098) $ 6,487 Net income (loss) Per share information: Net income (loss) pershare of Common Stock attributable to common stockholders: $ (0.48) $ 0.01 Basic (0.48) (0.07) Diluted Weighted average shares used in computing net income (loss) per share of Common Stock: 322,211,392 657,565,442 Basic 322,211,392 988,638,662 Diluted Total comprehensive income (loss): $ (153,098) $ 6,487 Net income (loss) (564) (555) Change in foreign currency translation adjustment $ (153,662) $ 5,932 Total comprehensive income (loss)
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 19 Condensed Consolidated Balance Sheets - Unaudited ( i December 31, 2022 March 31, 2023 n thousands) Assets Current assets $ 16,968 $ 31,769 Cash 1,546 1,505 Res tri c te d cash 26,804 55,405 Deposits 21,087 14,717 Other current assets 66,405 103,396 Total current assets 417,803 446,524 Property and equipment, net 19,588 18,911Operating lease right - of - use assets 6,492 6,458 Other non - current assets $ 510,288 $ 575,289 Total assets Liabilities and stockholders' equity Current liabilities $ 87,376 $ 76,926 Accounts payable 65,709 66,980 Accrued expensesand other current liabilities 95,130 28,521 Bridge Warrants 1,864 2,505 Accrued interest - 140 Related party accrued interest 2,538 2,609 Operating lease liabilities, current portion 1,364 1,390 Finance lease liabilities, current portion 8,406 8,643 Related party notes payable 5,097 5,159 Notes payable, current portion 267,484 192,873 Total current liabilities 6,570 6,209 Finance lease liabilities, less current portion 18,044 17,398 Operating lease liabilities, less current portion 9,429 9,758 Other liabilities 26,008 92,665 Notes payable, less current portion 327,535 318,903 Total liabilitiesCommitments and contingencies Stockholders' equity 56 82 Class A Common Stock 6 6 Class B Common Stock 3,655,771 3,723,446 Additional paid - in capital 3,505 2,950 Accumulated other comprehensive gain (3,476,585) (3,470,098) Accumulated deficit 182,753 256,386 Total stockholders' equity $ 510,288 $ 575,289 Total liabilities and stockholders' equity
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 20 Condensed Consolidated Statements of Cash Flows - Unaudited (1 of 2) ( i Three Months Ended March 31, 2022 2023 n thousands) $ (1 5 3 , 098) Cash flows from operating activities $6,487 Net income / (loss) Adjustments to reconcile net loss to net cash used in operating activities 4,853 1,103 Depreciation and amortization expense 3,347 15,102 Stock - based compensation - 3,698 Loss on disposal of property and equipment (1,186) (79,462) Change in fair value measurement of related party notes payable and notes payable - (12,434) Change in fair value measurement of warrant liability - (2,764) Change in fair value measurement of earnout liability - 736 Amortization of operating lease right - of - use assets and intangible assets 894 686 Loss on foreign exchange 2,319 4,533 Non - cash interest expense - (3,021) Loss on settlement of notes payable 108 337 OtherChanges in operating assets and liabilities: 6,840 (29,370) Deposits 2,095 6,368 Other current and non - current assets 5,747 (10,367) Accounts payable 14,527 (4,098) Accrued expenses and other current liabilities (882) (542) Operatinglease liabilities (7,928) (197) Accrued interest expense $ (1 2 2 , 364) $ (1 0 3 , 205) Net cash used in operating activities Cash flows from investingactivities $ (44,398) $ (16,873) Payments for property and equipment $ (44,398) $ (16,873) Net cash used in investing activities Cash flows from financing activities - 131,800 Proceeds from notes payable, net of original issuance discount - 4,079 Proceeds from exercise of warrants (87,065) (6) Payments of notes payable - (1,139) Settlement of notes payable transaction costs (466) (335) Payments of finance lease obligations 1,855 44 Proceeds from exercise of stock options $ (85,676) $ 134,443 Net cash (used in) provided by financingactivities (653) 395 Effect of exchange rate changes on cash and restricted cash$ (253,091) $ 14,760 Net (decrease) increase in cash and restricted cash 530,477 18,514 Cash and restricted cash, beginning of period 277,386 33,274 Cash and restricted cash, end of period
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 21 Condensed Consolidated Statements of Cash Flows - Unaudited (2 of 2) ( i Three Months Ended March 31,2022 2023 n thousands) $ 276,374 $ 31,769 Cash 1,012 1,505 Res tri c te d cash $ 277,386 $ 33,274 Total cash and restricted cash, end of period Supplemental disclosure of cash flow information $ 10,040 $ 324 Cash paid for interestSupplemental disclosure of noncash investing and financing activities $ 1,881 $ 17,249 Additions of property and equipment included in accounts payable and accrued expenses - 66,609 Issuance of Warrants - 8,977 Reclassification ofliability for insufficient authorized shares related to stock options and RSUs - 5,014 Reclassification of earnout shares liability to equity as part of authorized share increase - 46,296 Conversion of notes payable and accruedinterest into Class A Common Stock 41,000 Issuance of convertible notes pursuant to the Exchange Agreement - 6,811 Change in classification of warrants fromAdditional paid - in capital to liability pursuant to the Warrant Exchange 8,206 - Recognition of operating right of use assets and lease liabilities upon adoption of ASC 842 and for new leases entered into in 2022
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 22 Additional Financing Commitments is Expected to Provide Sufficient Funding to Reach the Anticipated Start of Phase 2 of the Three Phase Delivery Plan by the End of June 2023 - OnFebruary 05, 2023, FFIE announced $135.0 million financing commitments under the SPA (of which the C o m pa n y h a s re ceived $ 120.0 mi l l ion ) (1) - Investors in Tranche A of the SPA have funded optional notes of an aggregate amount of $38 million - On May 09, 2023, FFIE announced an additional $100.0 million financing commitments through unsecured convertible notes (1) with aportion funded earlier as a show of support - Additional flexibility with equity line of credit (ELOC) of up to $350.0 million (1) , $35.0 million financingcommitments in the secured convertible notes (1) and optional convertible notes (2) in an aggregate amount of ~$242.0 million - On May 02, 2023, FFIE receivedan additional 180 - days extension from NASDAQ to meet NASDAQ minimum bid pricerequirement (1) Financing under Secured Convertible Notes, Unsecured Convertible Notes and Equity Line of Credit are subject to certain closing conditions and, as applicable, limitations of enforceability. Such closing conditions, as applicable, include, among others, an Capital Markets - Implemented cost - cutting initiatives that has allowed the Company to focus on core budget items that are essential to delivering the FF 91 Futurist - Developing business and system processes and implementing internal control to strengthen corporate governance - We reiterate our goal to create a profitable business withoperating cash flow breakeven in 2025 Finance and Cost Control - SEC filings up to date - Registrations statements for a portion of financings are on file (effective and pending) - A substantial portion (55.6%) of operating expenses was allocated to Research and Development, emphasizing Company's commitment to creating industry leading products and technologies SEC Filings effective registration statement with respect to the underlying shares, sufficient authorized, unissued and uncommitted Class A shares of common stock, and the Company meeting certain delivery milestones (2) Investors in the $135 millionSecured Convertible Notes have the option to invest additional funding of up to 50.0% of the initial principal amount of Tranche C (an additional $67.5 million); Investors in Tranche A of the Securities Purchase Agreement have theoption to subscribe for Tranche B Notes in an amount not to exceed 100.0% of the initial principal amount of the Tranche A Notes (an additional $74.0 million); The Company may receive up to 100.0% of committed financing (an additional $100.0 million) under the Unsecured Convertible Notes at the discretion of the investors. Also assumes investors fund as per the funding schedule
[[Image Removed]](C) 2023 F A RA D A Y F U T U RE P RO P RIE T A RY A N D C ON F ID EN T IA L 23 05 - Imagery
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 24
[[Image Removed]] (C) 2023 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 25
[[Image Removed]]26 Alternate outro image Thank you R e s e r ve y ou rs to d ay - htt p s://w w w .ff. c o m /us/pr eo r de r/
May 11, 2023
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Faraday Stock Buy Hold or Sell Recommendation. Stocks . USA . Given the investment horizon of 90 days and your above-average risk tolerance, our recommendation regarding Faraday Future Intelligent is 'Strong Sell'.How fast is Faraday future? ›
This large crossover is to have a 0–60 mph (0–97 km/h) time of 2.4s, 130 kWh (470 MJ) battery pack, giving a range of 289 mi (465 km).What is Faraday future mission statement? ›
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. Our heart and soul are comprised of more than our technology and resources.Where is Faraday Future headquarters? ›
According to our current FFIE stock forecast, the value of Faraday Future Intelligent Electric Inc. shares will rise by 18.11% and reach $ 0.283474 per share by May 18, 2023. According to our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 39 (Fear).What is the stock forecast for FFIE in 2025? ›
FFIE Stock Price Prediction 2025
In this scenario, the lowest possible price for a share of stock is anticipated to be $16, while the highest price might reach $21.
The Faraday Future FF 91 price starts at $180,000, but the feature-packed versions are expected to sell for over $200,000. While this price seems high, it's worth noting that Faraday has an impressive 381-mile (613-km) range and has created an interior befitting of world elites.How much will the Faraday future cars cost? ›
How Much Will Faraday Future Cars Cost? Faraday hasn't officially shared pricing information for its vehicles, but current CEO Carsten Breitfeld told Reuters in 2021 that the feature-rich FF 91 will demand north of $200,000, and the FF 81 will cost more than $70,000.Who owns Faraday Future cars? ›
Faraday Future is an electric vehicle startup based in California. It was founded and it is being primarily financed by Chinese billionaire Jia Yueting. Founded only in 2014, the company already has around 1,000 employees and reportedly raised 100s of millions.Who invested in Faraday Future? ›
Their latest funding was raised on Feb 5, 2023 from a Post-IPO Debt round. Faraday Future is registered under the ticker NASDAQ:FFIE . Faraday Future is funded by 8 investors. Acuitas Capital and ATW Partners are the most recent investors.
Those inaccurate statements were related to the number of reservations Faraday Future has received for the FF91. The investigators found that the company's claim of receiving more than 14,000 reservations for its FF91 vehicle was potentially misleading because only several hundred of those reservations were paid.Does Faraday Future sell cars? ›
The Stock Soars. It's taken a while, but a new ultra-luxury electric vehicle is about to hit roads.How many employees does Faraday Future have? ›
Faraday Future has 514 employees Who is the CEO of Faraday Future?Is Faraday Future good company to work for? ›
Faraday Future is ranked #11 on the Best Finance Companies to Work For in San Jose, CA list.What does Faraday Future Intelligent Electric do? ›
As one of the world's first intelligent electric vehicle manufacturers, FF has been committed to the research and development of AI technology platforms, applied to autonomous driving platforms and the third intelligent internet space. Faraday Future Intelligent Electric Inc.What stock will go up the most in 2023? ›
|Company||Forward Sales Growth Next Year|
|Alphabet (GOOG, GOOGL)||+11.8%|
|Eli Lilly (LLY)||+19.4%|
6 analysts offering 12-month price forecasts for Faraday Future Intelligent Electric Inc (FFIE) have a share price target of $10. This median of share price forecast represents a 4016.92% upside from the latest price of $0.24 as on 13.05. 23.What is the price target for Faraday? ›
Stock Price Forecast
The 1 analysts offering 12-month price forecasts for Faraday Future Intelligent Electric Inc have a median target of 10.00, with a high estimate of 10.00 and a low estimate of 10.00. The median estimate represents a +6,518.13% increase from the last price of 0.15.
For Faraday Future Intelligent Electric Stock (FFIE) price forecast for 2025, a forecast is offered for each month of 2025 with average FFIE price forecast of $2.0179, a high forecast of $9.8132, and a low forecast of $2.0213.Can I buy Faraday Future stock? ›
Faraday Future is listed on the Nasdaq Global Exchange under the ticker symbol “FFIE”. How can I purchase shares of Faraday Future? To purchase shares of Faraday Future, please contact a brokerage firm.
Our market forecast indicates that by 2030, FITFI could reach a new all-time high of $0.058872.Should you get a Faraday box? ›
It makes sense to always use a Faraday bag when the car is on your driveway or in a garage, but also when you're away from home, because thieves often operate in car parks. A Faraday bag can also be used to block phone hackers, keep credit cards private or even protect your digital passport.Are Faraday bags worth it? ›
Yes and no. Tests of Faraday bags have found them to generally be effective at blocking signals, but the price, materials and build quality of individual bags can vary, so a little studying of online reviews can help you find a decent one.Can you make a phone call in a Faraday cage? ›
The phone will not ring, and the call will go to voicemail.Is a Tesla car a Faraday cage? ›
In fact, your car is an everyday example of a Faraday cage, which is why, despite what you may have heard about rubber tires, it's actually the closed, metal chassis surrounding you that keeps you safe.Are all cars Faraday cages? ›
Your car also essentially becomes a Faraday cage. The electrical charge will travel over the metal of your vehicle and protect you inside. Just make sure you have the windows closed or you will leave an opening for that charge to enter!What is the most futuristic car in the world? ›
The most futuristic car ever, the Mercedes AVTR, driving in public!Does Elon Musk own an electric car company? ›
Musk is also the co-founder and CEO of Tesla, the electric car maker that is credited for changing the landscape of the electric car market in the last decade. Musk is also the founder of the American construction company, The Boring Company, and co-founder of OpenAI and Neuralink.Does Elon Musk own the patent to electric cars? ›
Tesla and Toyota
In the now famous blog post, Elon Musk announced in 2014 “All Our Patent Are Belong To You”. He explained the decision was made in the spirit of innovation within the industry and the advancement of electric vehicle technology, through removing the roadblocks of intellectual property.
The company says its Hanford, California factory has passed its final hurdle – 'milestone 6' – with Faraday confirming the completion of construction and equipment installation in vehicle assembly areas.
May 9 (Reuters) - Electric vehicle (EV) startup Faraday Future Intelligent Electric (FFIE.O) on Tuesday said it was raising $100 million in debt as it aims to achieve initial deliveries of its flagship FF 91 Futurist vehicle after a funding crunch led to multiple delays.When did Faraday Future go public? ›
Faraday & Future was founded in 2014 and came public in its current form via a SPAC in 2021.
Purchase by Siemens and Wheelock lawsuit.How much is a Faraday Future ff91 in USA? ›
The FF 91 is expected to have a starting price of $180,000 once the full lineup reaches production, offering 1050 hp courtesy of a tri-motor layout.How many reservations does Cyber Truck have? ›
Now in 2022, the same tally put Tesla Cybertruck reservations at over 1.5 million units. That's unprecedented demand – though to be fair, Tesla is only asking for a $100 refundable deposit per reservation, which is not the strongest show of interest.What car will work after EMP? ›
Most cars will survive an EMP attack, but the vehicle that is most likely to survive is an older model diesel vehicle with minimal electronics. For a surefire way to shield from EMP, building a faraday cage garage for your car would be a useful project.What size battery does the Faraday Future have? ›
The electric crossover from California-based startup Faraday Future now packs a larger 142.0-kWh battery as it inches closer to production.Can you buy an electric car kit? ›
An EV conversion company can charge as much as (or far more than) the cost of a new vehicle, but DIY conversion kits can be purchased for as little as $8,000, plus batteries. Depending on how much EV range the owner wants, batteries can end up being the most expensive part of the conversion.Who is the leader in EV trucks? ›
Volvo Trucks have now sold more than 4 300 electric trucks globally in more than 38 countries. In Europe, Volvo Trucks is the market leader with a 32% share of the market for heavy electric trucks, and in North America, nearly half of all heavy electric trucks registered in 2022 were Volvo trucks.Who leads the world in EV? ›
Meanwhile, sales of conventional cars with internal combustion engines went down by a quarter in the past five years. China leads the EV field - one in every four cars bought there in 2022 was an EV. While the transition to EVs is positive, it is not enough to offset global CO2 emissions, say experts.
Who owns Faraday Future Intelligent Electric? Faraday Future Intelligent Electric (NASDAQ: FFIE) is owned by 4.33% institutional shareholders, 18.12% Faraday Future Intelligent Electric insiders, and 77.55% retail investors.How much does Faraday AI pay? ›
Average Faraday Future hourly pay ranges from approximately $18.47 per hour for Team Member to $71.15 per hour for Developer.What companies are like Faraday? ›
- Adobe Analytics.
- Qlik Sense.
- SAP Analytics Cloud.
- IBM Cognos Analytics with Watson.
Casual dress code + relaxed work environment. Culturally diverse, progressive atmosphere.Is Faraday a Chinese company? ›
Founding. Faraday Future was founded by Chinese businessman Jia Yueting in April 2014 and is headquartered in Los Angeles, California, in the Harbor Gateway neighborhood adjacent to Carson, California. From its inception in 2014, the company grew to 1000 employees by January 2016.Are Faraday bags EMP proof? ›
Faraday bags, cages, and RF shielding enclosures are simple solutions to protect against EMP damage. These enclosures are made from conductive material, typically metal-coated fabric, that creates an electromagnetic shield around the contents of the bag.What is the price prediction of EMP stock? ›
|Date||Opening price||Maximum price|
|2022-05-05||Open: 20.050||High: 20.050|
|2022-04-25||Open: 19.020||High: 19.020|
|2022-04-22||Open: 18.340||High: 18.340|
|2022-04-12||Open: 14.020||High: 14.020|
Who owns Faraday Future Intelligent Electric? Faraday Future Intelligent Electric (NASDAQ: FFIE) is owned by 6.52% institutional shareholders, 27.31% Faraday Future Intelligent Electric insiders, and 66.17% retail investors.How high will MOS stock go? ›
MOS Stock 12 Months Forecast
Based on 13 Wall Street analysts offering 12 month price targets for Mosaic Co in the last 3 months. The average price target is $51.62 with a high forecast of $70.00 and a low forecast of $42.00. The average price target represents a 20.41% change from the last price of $42.87.
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Faraday Future Intelligent Electric (NASDAQ: FFIE) does not pay a dividend.Will Faraday future stock go up? ›
Stock Price Forecast
The 1 analysts offering 12-month price forecasts for Faraday Future Intelligent Electric Inc have a median target of 10.00, with a high estimate of 10.00 and a low estimate of 10.00. The median estimate represents a +4,066.67% increase from the last price of 0.24.
Electric Vehicles Are Slated to Increase to Global Share of 22% in 2030 and Reaching $567 Billion by 2025.Is EMP a good buy? ›
There are currently 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" EMP.Is EMP metals a good investment? ›
Price-To-Book vs Peers: EMPS is good value based on its Price-To-Book Ratio (2.4x) compared to the peer average (15.1x).