- FF 91 Futurist will be on display alongside Innovusion’s LiDAR
portfolio for autonomous driving
- New leadership and expected funding to kickstart FF 91 Futurist
production, targeted for March of 2023
- FF recently completed numerous product and technology upgrades
to its FF 91 Futurist which highlight 26 major new system and
component upgrades made since 2021
Faraday Future ("FF" or “the Company”), a California-based
global shared intelligent electric mobility ecosystem company,
today announced its return to the Consumer Electronics Show, CES
2023, taking place from January 5 – 8, 2023 in Las Vegas, NV. FF
will display the FF 91 Futurist in Innovusion's booth at CES,
located at the Las Vegas Convention Center, West Hall (Booth
#6925). Recently, FF selected Innovusion’s Falcon LiDAR to power
the FF 91’s autonomous driving system. The Falcon LiDAR is intended
to seamlessly integrate into the FF 91 Futurist to deliver
additional real-time 3D vision, even in adverse weather conditions
or the darkest of nights, providing a safer and more reliable
driving experience.
Innovusion’s Falcon LiDAR is designed to give the FF 91 Futurist
unprecedented insight into the environment far in front of the car.
Enabled by Falcon’s long-distance capability and high angular
resolution, other vehicles in the FF 91’s path can be detected up
to 1,600 feet away (over five football fields), and even
pedestrians and small road debris can be detected over 650 feet
away.
The Company expects to start production of a saleable FF 91
Futurist at the end of March 2023, coming off the assembly line in
early April with deliveries before the end of April, subject to the
timely availability of $150 to $170 million of additional funding
and timely stockholder approval of an authorized share increase. FF
recently received a $30 million binding letter of intent draft from
a current FF investor. The agreement is subject to FF Board
approval and conditions including negotiation and execution of
definitive documentation.
“The Consumer Electronics Show is the pinnacle setting of the
newest and most influential technology in the world, so it was
essential that we bring our technology-packed flagship FF 91
Futurist back to this show,” said Xuefeng (“XF”) Chen, Global Chief
Executive Officer of FF. “Innovusion’s long-range and
high-resolution Falcon LiDAR is the only product of its kind being
mass-produced for consumer vehicles. With partners like Innovusion,
the FF 91 Futurist will set new standards in driver assistance
technologies that will help us achieve new levels of safety, driver
comfort, and convenience in the luxury electric vehicle
marketplace. And we are excited to explore opportunities to
integrate Innovusion’s new product lines into future car models as
well.”
Faraday Future continues to make progress with 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 from both the vehicle, and 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, as
well 13 key upgrades from computing, sensing, communication, user
interaction, and significant performance improvements to the FF 91
Futurist.
The Company recently announced the completion of manufacturing
milestone #6, the completion of construction and equipment
installation in vehicle assembly areas. This marks six of the seven
milestones (the 7th milestone being SOP) that FF laid out late in
2021 to mark its manufacturing achievements towards the start of
production of the FF 91 Futurist.
As the only next-gen Ultimate Intelligent TechLuxury EV product,
the FF 91 Futurist puts forward a unique and intelligent EV
experience with extreme technology, 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 and user mobility ecosystem
platform.
Users can preorder an FF 91 Futurist via the FF Intelligent App
or through our website (English): https://www.ff.com/us/preorder/
or (Chinese): https://www.ff.com/cn/preorder/
Download the new FF Intelligent App (English):
https://apps.apple.com/us/app/id1454187098 or
https://play.google.com/store/apps/details?id=com.faradayfuture.online,
(Chinese): http://appdownload.ff.com
ABOUT FARADAY FUTURE
Faraday Future is a class-defining luxury electric vehicle
company. The Company has pioneered numerous innovations relating to
its products, technology, business model, and user ecosystem since
inception in 2014. Faraday Future aims to perpetually improve the
way people move by creating a forward-thinking mobility ecosystem
that integrates clean energy, AI, the Internet, and new usership
models. Faraday Future’s first flagship product is the FF 91
Futurist.
FOLLOW FARADAY FUTURE:
https://www.ff.com/
http://appdownload.ff.com
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture
NO OFFER OR SOLICITATION
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 of securities in any jurisdiction in which the offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such
jurisdiction.
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 anticipated start of production (SOP)
and delivery timing for our FF 91 Futurist vehicle, additional
anticipated funding and timing for receipt thereof and FF
stockholder approval of an authorized share increase and the timing
thereof, 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 the Company’s
ability to satisfy the conditions precedent and close on the
various financings previously disclosed by the Company and
anticipated additional financings, the failure of any which could
result in the Company seeking protection under the Bankruptcy Code;
the Company’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; the ability of
the Company to agree on definitive documents to effectuate the
governance changes with FF Top; the Company’s ability to remain in
compliance with its public filing requirements under the Securities
Exchange Act of 1934, as amended, and the listing requirements of
The Nasdaq Stock Market LLC (“Nasdaq”) and to continue to be listed
on Nasdaq; the outcome of the SEC investigation relating to the
matters that were the subject of the Special Committee
investigation and other litigation involving the Company; 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 success of other
competing manufacturers; the performance and security of the
Company’s vehicles; potential litigation involving the Company; the
result of future financing efforts and general economic and market
conditions impacting demand for the Company’s products; recent
cost, headcount and salary reduction actions may not be sufficient
or may not achieve their expected results; and the ability of 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 December 23,
2022, 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 put undue reliance on
forward-looking statements, and the Company does not undertake any
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230102005040/en/
Investors (English): ir@faradayfuture.com Investors
(Chinese): cn-ir@faradayfuture.com Media:
john.schilling@ff.com
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