• Aiming at advancing the planned high-volume production and delivery of two models

• Signing formal agreements allows the Company to accelerate the planned high-volume production to fill the gap in the U.S. AIEV mass market including battery electric and range-extended vehicles

• The FX brand has entered the product research phase for delivery, the initial step for moving towards the goal of becoming the "Toyota of the AIEV era"

LOS ANGELES--(BUSINESS WIRE)--Nov. 12, 2024--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 the Company's wholly owned subsidiary, Faraday X (FX), has signed definitive agreements relating to two planned products with top original equipment manufacturers (OEMs). These collaborations aim to jointly advance plans and the first phase of execution for the development, testing, regulatory compliance, supply chain, and production planning of the two models.

These OEMs could serve as top-tier parts suppliers for FX, providing key components for two FX vehicles. This marks significant progress for FX and the Global Automotive Industry Bridge Strategy, giving FX the opportunity, subject to securing necessary funding, to establish a globally competitive supply chain and significantly shorten the delivery cycle to meet the strategic goal of rolling out the first model by the end of 2025.

These agreements support FX's goals of seizing historic blue ocean opportunities of the American AIEV industry and becoming the "Toyota of the AIEV era."

"By empowering the FX mass-market models with much of the Ultimate AI TechLuxury technologies, we hope to fill the gap in the U.S. mass market and bring AIEVs with extreme price-performance ratio to American users," said FF Global CEO Matthias Aydt.

"Through collaboration with top OEMs, FX plans to integrate global resources to establish a highly cost-effective supply chain while ensuring quality. By leveraging FF's extensive product and technology advantages in AI, software, and intelligent internet applications, we aim to quickly achieve our vision of Co-create, An AIEV for Everyone," said Max Ma, Global CEO of FX.

The Company announced that Xiao (Max) Ma has been appointed Global CEO of FX, reporting directly to both FF Global CEO Matthias Aydt and Founder & CPUO YT Jia. The FX brand has also begun hiring for key positions. If you are interested in exploring career opportunities with FX to help manifest the Company's next generation of mobility AIEV products, we encourage you to visit our career page at https://www.ff.com/us/careers/.

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.

Source: Faraday Future Intelligent Electric Inc.