UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Schedule
14A
Proxy
Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment
No. )
Filed
by the Registrant ☒
Filed
by a party other than the Registrant ☐
Check
the appropriate box:
☐
Preliminary Proxy Statement
☐
Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☐
Definitive Proxy Statement
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Definitive Additional Materials
☐
Soliciting Material under § 240.14a-12
Faraday
Future Intelligent Electric Inc.
(Name
of Registrant as Specified In Its Charter)
(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment
of Filing Fee (Check all boxes that apply):
☒
No fee required
☐
Fee paid previously with preliminary materials.
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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a- 6(i)(1) and 0-11
On February 20, 2023, Faraday
Future Intelligent Electric Inc. issued the following press release:
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 (February 20, 2023) -
Faraday Future Intelligent Electric, Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), 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 full letter addressed to FF suppliers
can be seen by following this link: www.ff.com/us/letter-to-suppliers
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.
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, among other things, statements regarding the anticipated start of production (SOP) and delivery timing for our FF 91 Futurist
vehicle, additional 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 whether the Amended Shareholder Agreement between the Company and FF Top, dated as of January 13, 2023, complies
with the listing requirements of The Nasdaq Stock Market LLC, the market performance of the shares of the 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 previously disclosed by the Company and any future financings,
the failure of any of 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; whether the Company and the City of Huanggang could agree on definitive documents to effectuate the non-binding
Cooperation Framework Agreement; the Company’s ability to remain in compliance with its public filing requirements under the Securities
Exchange Act of 1934, as amended; 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 February 13, 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 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.
ADDITIONAL INFORMATION
In connection with the special stockholders
meeting, the Company has filed with the SEC a definitive proxy statement on Schedule 14A with respect to the proposals therein to increase
the number of the Company’s authorized Class A common shares to 1.69 billion and approve the issuance of shares under the Company’s
previously announced equity line of credit with an affiliate of Yorkville Advisors for purposes of NASDAQ Listing Rule 5635 (as amended
and supplemented, the “Proxy Statement”). Faraday Future commenced mailing of the Proxy Statement to its stockholders on
February 3, 2023. This press release is not a substitute for the Proxy Statement or any other document which the Company may file with
the SEC. INVESTORS AND FARADAY FUTURE’S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT IN ITS ENTIRETY AND ANY OTHER DOCUMENTS
FILED BY THE COMPANY WITH THE SEC IN CONNECTION WITH THE PROXY STATEMENT OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSALS IN THE PROXY STATEMENT. Investors and stockholders may obtain free copies of the Proxy Statement
and other documents containing important information about Faraday Future that are filed or will be filed with the SEC by Faraday Future
from the SEC’s website at www.sec.gov. Faraday Future makes available free of charge at www.ff.com (in the “Financials and
Filings” section), copies of materials it files with, or furnish to, the SEC.
PARTICIPANTS IN SOLICITATION
Faraday Future and its respective
directors and executive officers and certain Company investors and their representatives may be deemed participants in the solicitation
of proxies of the Company’s stockholders in respect of the proposals in the Proxy Statement. Information about the directors and
executive officers of Faraday Future, such investors and their representatives and their ownership is set forth in the Company’s
filings with the SEC, including the Proxy Statement. These documents can be obtained free of charge from the sources specified above.
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
4
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