LOS ANGELES–(BUSINESS WIRE)–Faraday Future Intelligent Electric Inc. (“FF”) (NASDAQ: FFIE), a California-based shared intelligent electric mobility global ecosystem company, today announced that work is underway on all major mechanical systems , Electrical, and Plumbing (MEP) to support equipment installation, marking the company’s #5 manufacturing milestone. With this achievement, FF demonstrates steady progress towards start of production (SOP) and remains on track to launch the flagship FF 91 electric vehicle in Q3 2022.
“Our manufacturing facility in Hanford, California is growing at an impressive rate and is on schedule to deliver our first vehicles in the third quarter, now that we have achieved five of our seven milestones,” said Dr. Carsten Breitfeld. , Global Managing Director of Faraday’s Future. “FF will be the first manufacturer of truly premium, high-performance, luxurious and intelligent electric vehicles when we introduce our flagship model, the FF 91, to customers in the third quarter of this year.”
A link to a video showcasing FF’s progress at its manufacturing facility in Hanford can be viewed here: Manufacturing Stage 5 Reached.
FF builds a state-of-the-art facility that combines highly skilled craftsmanship with state-of-the-art automated production processes to rival the world’s best luxury automakers. Since its IPO in July, FF has now reached five of its seven production milestones, including foundation construction, pre-production builds for final technical validation and certification vehicles. Now FF has reached the start of all MEP systems to support equipment installation. There are only two manufacturing steps left:
- Step #6: Complete construction and installation of equipment in the final vehicle manufacturing areas.
- Final step: SOP – July 2022.
While MEP systems are finalized and automated equipment is being installed, engineers continue to build more vehicles for production. These vehicles feature production specification components and will be used for testing and validation, as well as public viewing. FF will attend more auto events and auto shows as it gets closer to the SOP. Last week, FF presented an FF 91 production intent at the 2022 Milken Institute Global Conference.
Users can pre-order an FF 91 Futurist model now via the FF Intelligent app or FF.com at: https://www.ff.com/us/preorder.
Download the new FF Smart App at: https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online.
ABOUT FARADAY FUTURE
Faraday Future is a class-defining luxury electric vehicle company. The company has launched many innovations regarding its products, technology, business model and user ecosystem since its inception in 2014. Faraday Future aims to continuously improve the way people move by creating a mobility ecosystem before -thinking that integrates clean energy, AI, the Internet and new models of use. Faraday Future’s first flagship is the FF 91 Futurist.
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FORWARD-LOOKING STATEMENTS
This press release contains “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 “believe”, “expect”, “expects”, “anticipates”, “expects”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, “future”, “proposes “and variations of these words or similar expressions (or negative versions of these words or expressions) are intended to identify forward-looking statements and include (among other things) statements regarding the expected timing of the launch of the FF 91 and FF 81 vehicles and the planned production capacity of the Hanford company, a California establishment. These forward-looking statements 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 beyond the control of the Company, which could lead to actual results or results. differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or results include the outcome of the SEC’s investigation of the matters investigated by the special committee; the Company’s ability to satisfy the conditions of the Nasdaq Exception and file Form 10-K by May 16, 2022 and its ability to regain compliance with Nasdaq’s continuous listing standards; the implementation of the actions of the Special Committee and the related internal review by the Company; the Company’s ability to execute its development and commercialization plans for its vehicles and the timing of these development programs; the Company’s estimates of the size of markets for its vehicles and the cost of bringing such vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the success of other competing manufacturers; the performance and safety of the Company’s vehicles; potential litigation involving the Company; the outcome of future financing efforts and general economic and market conditions affecting demand for the Company’s products; the Company’s ability to attract and retain 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 (File No. 333-258993) filed with the SEC on October 4, 2021, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. except as required by law. .
