FARADAY FUTURE TARGETS MARCH 30, 2023 FOR START OF PRODUCTION OF ITS FF 91 FUTURIST
>> The confirmation comes after a recent round of financing commitments of $135.0 million was announced by the Company
>> First FF 91 Futurist deliveries expected by the end of April, 2023
Los Angeles, CA - Faraday Future Intelligent Electric, Inc., a California-based global shared intelligent electric mobility ecosystem company, today announced it is targeting a start of production (SOP) date for its flagship FF 91 Futurist of March 30, 2023, assuming timely receipt of funds from the Company’s investors, at the Company’s Hanford California manufacturing facility, "FF ieFactory California."
The Company expects the first vehicles built at its FF ieFactory California to be coming off the assembly line in early April, with deliveries to its first users before the end of April, assuming timely receipt of funds from the Company’s investors.
"This SOP will undoubtedly be our most important historic moment since FF was established. We would like to express our sincerest appreciation and respect to all of those who have stood beside us for their unwavering support," said Chen Xuefeng (XF), Global CEO of FF. "The Company now has all of the funding commitments, assuming timely receipt, and all of the equipment needed to build the FF 91 Futurist in place, while working with numerous world-class equipment suppliers to keep FF on track to deliver the vehicle in April of this year."
At the same time, Faraday Future plans to hold the "2023 Faraday Future Global Supplier Summit" the last week of April, inviting our global partners to witness the historical milestone of the FF 91 Futurist production and delivery readiness along with sharing in the common goal and successes of the Company. We will announce new shared business initiatives including the "FF Industrial Chain Strategic Alliance" and the "FF Supplier Par" at the Supplier Summit, sharing the achievements and benefits of FF’s intelligent electric mobility through industrial chain capital cooperation.
With the introduction and implementation of the "FF Supplier Par" program, FF will unite more closely with global supplier partners to co-create the performance + luxury leadership in the era of intelligent electric mobility, plus create capital value and the potential to share in the Company’s joint success.
The Company has also set the date for a special stockholders meeting which is scheduled to take place on February 28, 2023 at 9:00am PST. The Company recommends that all FF stockholders as of January 31, 2023 submit proxies in favor of the proposal to increase the authorized shares of Faraday Future Class A common stock.
FF is completing its testing and validation of the FF 91 Futurist through the Product and Technology Generation 2.0 program (PT Gen 2.0). The generational upgrade from PT Gen 1.0 to PT Gen 2.0 consists of significant upgrades of systems and core components in both the vehicle and the I.A.I area – the advanced core, which stands for Internet, Autonomous Driving, and Intelligence. PT Gen 2.0 was achieved through upgrades of 26 major system and components, with 13 key upgrades throughout powertrain, battery, charging, chassis, interior from EV areas, and 13 key upgrades in computing, sensing, communication, user interaction, and performance of the FF 91 Futurist.
Competing with Ferrari, Maybach, Rolls Royce, and Bentley as the only next-gen Ultimate Intelligent TechLuxury EV product, the FF 91 Futurist offers a unique and intelligent EV experience with extreme technology and an ultimate user experience. The FF 91 Futurist features an industry-leading 1,050 horsepower, an EPA-certified range of 381 miles, 0-60 mph in 2.27 seconds, a unique rear intelligent Internet system, and a revolutionary user experience designed to create a mobile, connected, intelligent, and luxurious third Internet living space.