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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): May 8, 2025

 

Faraday Future Intelligent Electric Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   001-39395   84-4720320
(State or other jurisdiction   (Commission File Number)   (I.R.S. Employer
of incorporation)       Identification No.)

 

18455 S. Figueroa Street    
Gardena, CA   90248
(Address of principal executive offices)   (Zip Code)

 

(424) 276-7616

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Class A common stock, par value $0.0001 per share   FFAI   The Nasdaq Stock Market LLC
Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $11.50 per share   FFAIW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On May 8, 2025, Faraday Future Intelligent Electric Inc. (the “Company”) issued a press release in which the Company provided certain first quarter 2025 financial results, as well as its 2025 outlook. The full text of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 7.01 Regulation FD Disclosure.

 

In connection with the conference call to be held by the Company on May 8, 2025, to discuss certain first quarter 2025 financial results, as well as its 2025 outlook, the Company will reference the presentation furnished as Exhibit 99.2 to this Current Report on Form 8-K and incorporated herein by reference.

 

The information contained in Items 2.02 and 7.01 in this Current Report on Form 8-K and the information in Exhibits 99.1 and 99.2 hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits. The following exhibits are filed with this Current Report on Form 8-K:

 

No.   Description of Exhibits
99.1   Press Release of Faraday Future Intelligent Electric Inc. issued on May 8, 2025
99.2   Investor Presentation (Fiscal First Quarter 2025 Earnings Release) dated May 8, 2025
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  FARADAY FUTURE INTELLIGENT ELECTRIC INC.
   
Date: May 8, 2025 By: /s/ Koti Meka
  Name: Koti Meka
  Title: Chief Financial Officer

 

 

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Exhibit 99.1 

 

 

 

FARADAY FUTURE REPORTS FINANCIAL RESULTS FOR FIRST QUARTER 2025

 

Q1 total net assets increased by $24.8 million, or 21.6%, from the prior year-end.

 

FF continued to expand its client base with two FF 91 2.0 deliveries, one in California and one in New York, officially entering the East Coast market, expanding its regional footprint beyond California.

 

The FX Super One is anticipated to be unveiled around end of June of 2025, online B2C paid pre-order collection will be opened during the event in preparation for the first planned FX to roll off the line by the end of 2025.

 

The Company is targeting to achieve 10,000 paid pre-orders, including binding B2B pre-order agreements with a non-refundable deposit and non-binding reservations, and B2C pre-orders with non-binding reservations and refundable deposits, placed before and within 48 Hours of the launch event.

 

The Company has received a 1,000-unit B2B pre-order agreement with a non-refundable deposit and non-binding reservations from an East Coast company and another 300 B2B pre-order agreement with a non-refundable deposit and non-binding reservations from a West Coast company—a clear signal of demand and early success for FX’s mass-market EV MPV.

 

New rear design rendering of the FX Super One unveiled. In Q3 2025, FX plans to unveil a new potential FX model designed to potentially disrupt the market dominance of RAV 4 in the AIEV era.

 

The Company’s Hanford factory could prepare a flexible production line for FX units with an annual capacity of over 30,000 total units, including FF. The facility would support mixed-line manufacturing or assembly for multiple models.

 

With FF’s Light, Swift, and Empowering model, FF expects to achieve a fully competitive supply chain and manufacturing system, targeting less than 25% of the typical R&D cost of traditional U.S. OEMs.

 

Los Angeles, CA (May 8, 2025) -- Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) (“FF”, “Faraday Future”, or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced its financial results for its first quarter 2025, highlighted by several key metrics that highlight both the Company’s operational execution and financial position and also its significant progress in its FX brand and product development. It also provided an update on subsequent events and its outlook for the remainder of 2025.

 

SUMMARY

 

The Company began the quarter by reaffirming its plans for the FX Super One, which would be its first-class AI-MPV product, and planned to roll off the line by 2025. The Company plans to hold the first FX vehicle launch event and start to collect refundable paid reservations from the public in Q2 2025. This marks a pivotal moment in FF’s mass-market strategy. FF also officially entered the East Coast market with the delivery of the first FF 91 2.0 Futurist Alliance in New York, expanding the Company’s regional footprint beyond California. FF plans to maintain FF 91 2.0 deliveries to spire users and co-creators.

 

 

 

 

 

 

To support FX development, FX kicked off U.S. homologation and road testing for the FX Super One and, in the second quarter, FX6 prototype mules, to keep on track toward regulatory and production milestones. In alignment with its long-term focus on implementing AI technology, building the next generation AIEV.

 

FF also established a new subsidiary, Future AI Hybrid Extended-Range (AIHER), which will look to lead the design and development of the world’s first AI-powered hybrid extended-range electric powertrain. This is a core enabler of our long-term platform strategy.

 

Internally, FF enhanced its capital and operational leadership, with Jerry Wang appointed as Global President to drive global execution, product delivery, and organizational efficiency. And just recently, the Company invited YT Jia, FF’s founder, to come back to the helm to co-lead the company as Global Co-CEO together with Global Co-CEO Matthias Aydt. Regarding vehicle delivery, FF continued to expand its client base with two FF 91 2.0 deliveries, one in California and one in New York.

 

In technology and AI, FF has made strong progress across product planning and software enhancement. FF began technology planning for its AI Hybrid Extended-Range system, which could power the next generation of FF products. FF has successfully delivered the first internal development version of its AI-powered vehicle operating system, built on its AI Agent framework, enabling intelligent in-cabin and driving experiences. The FF91 software continues to evolve, with the version 57 update released during the quarter—further enhancing user experience, stability, and performance.

 

In capital and investor relations, FF received $20 million from a prior financing round and secured an additional $41 million in new funding, subject to closing conditions. These funds are crucial to supporting FX ramp-up, AI R&D, and market expansion. FF also hosted an investor event in New York, where it engaged stakeholders, shared strategic updates, and announced plans to open a New York Metro office to deepen its presence in this key market. FF is aiming for FX models to achieve positive gross margins relatively quickly, with upcoming funding to support production costs.

 

As part of our global strategy, our Middle East facility in Ras Al Khaimah Economic Zone (RAKEZ) is now ready for occupancy. The local team will be taking over shortly, bringing our international production capacity another step closer to activation

 

RESULTS FOR FIRST QUARTER 2025

 
  Revenue: $0.3 million, from FF 91 deliveries and lease revenue.

 

  Net Assets: $139.8 million, increased by $24.8 million, or 21.6%, from the prior year-end.

 

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  Net Loss from Operations: $43.8 million, in line with $43.6 million in Q1 2024.

 

  Operating Cash Outflow: $20.3 million, a 38% increase from Q1 2024.

 

  Financing Cash Inflow: $24.6 million, marking the third consecutive quarter where financing inflows exceeded operating outflows, a positive and sustained trend that continues to support our operations.

 

  Total operating expenses: $22.8 million, representing a modest decrease of $0.2 million compared to Q1 2024.

 

In summary, FF’s performance this quarter demonstrates clear progress on both financial and operational fronts. FF remains focused on strategic investments in its core roadmap, while optimizing capital and driving toward long-term growth. FF has made tangible progress in aligning cost structure with operational priorities, while positioning it for long-term scalability and financial resilience. Here are some additional achievements:

 

CAPITAL MARKETS

 

On the capital markets front, FF remains committed to protecting stockholder interests. FF issued a public statement regarding potential illegal short selling activity and online infringement. This was an important step to defend the company and its investors against illegal market manipulation and improper reputational harm. FF has also adopted a zero-tolerance policy toward illegal short selling and the deliberate spread of false or misleading information. Some misleading content has already been removed or addressed.

 

FF will continue to pursue appropriate legal and regulatory channels to take appropriate actions to address these issues and ensure transparency. Notably, some individuals involved in spreading false narratives on social media have since issued public apologies.

 

Investor interaction has also intensified. FF has increased the frequency of co-creation events to promote openness and direct stakeholder participation. This includes the FX Developer Co-Creation Program, where participants test drove the FX prototype mule, and the FFAI Investor Community & FX Developer Co-Creation Day, which received powerful endorsements from California political leaders—validating our Global Automotive Bridge Strategy and re-affirmed our investment of over $3 billion in California, focusing on the research, development, and manufacturing of next-generation Artificial Intelligence Electric Vehicles (AIEVs).

 

In addition to FF’s hosted events, the Company broadened its reach by participating in the Jones Technology and Innovation Conference in Las Vegas and joining a business roundtable at the White House in Washington, D.C., strengthening its dialogue with national leaders and innovation partners.

 

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FX BRAND DEVELOPMENT AND PRODUCT STRATEGY

 

FF unveiled the FX Super One camouflage prototype mules in January 2025 in Las Vegas, during the CES time period and launched the testing and validation process. FX Super One is an innovative first-class AI-MPV, expanding a potential product lineup alongside the previously announced potential FX 5 and FX 6 models. Targeting distinct price segments, the FX 5 (target base price of $20,000-$30,000) and FX 6 (target base price of $30,000-$50,000) could feature two dual powertrain options: range-extended AIEV and battery-electric AIEV.

 

The FX 6 prototype mules are undergoing testing and validation including focusing on the Advanced Driver-Assistance Systems (ADAS) on public roads in Los Angeles.

 

2025 OUTLOOK

 

2025 will be a pivotal year for FF. With a strong focus on driving technological innovation, and maintaining financial discipline, the Company is positioning itself for long-term growth and success in the EV market. And above all, fighting to enhance stockholder value for both institutional and retail investors. With a primary focus on Q2, structured around the Company’s seven tier-one strategic goals and pillars, from S1 to S7.

 

S1 User Ecosystem:

 

1. FF is planning to host the first product launch event for the FX Super One around the end of June, which will also mark the countdown to user deliveries.

 

The product launch will also fully open FF’s online B2C paid pre-order collection with the goal to achieve around 10,000 paid pre-orders, including binding B2B pre-order agreements with non-refundable deposits and non-binding reservations, and B2C pre-orders with refundable deposits and non-binding reservations, placed before and within 48 hours of the launch event. FX is on track to have the first FX Super One off the line by the end of 2025.

 

At the same time, FF continues to scale up B2B sales efforts. In Phase I, FF aims to enter seven U.S. states with strong AIEV demand: California, Nevada, Texas, Florida, New York, New Jersey, and Washington.

 

The Company welcomes new FF Par candidates to join the Co-Creation Ecosystem Online Direct Sales System, and also invites B2B partners, such as rental car companies and MCN (Multi-Channel Network) agencies.

 

2. FF’s co-creation model will deeply empower FX. By engaging users, stockholders, celebrities, and partners across industries and communities, FF is building a collaborative ecosystem.

 

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S2–S3: Product & Technology:

 

1. FX has released the latest rendering of the rear design of the planned production version of the FX Super One.

 

2. In Q3, FX plans to unveil a new potential FX model designed to potentially disrupt the market dominance of RAV 4 in the AIEV era, bringing us one step closer to FX’s vision: An AIEV for Everyone.

 

3. The Company is going all in on AI, accelerating the design and development of a Super AI Hybrid Extended Range System (AIHER), and pushing forward with our AI cabin and aiDriving platform.

 

S4: Supply Chain, Industrialization & Delivery:

 

The Company’s Hanford factory is looking to prepare a flexible production line for FX units with an annual capacity of over 30,000 total units, including FF. The facility would support mixed-line manufacturing or assembly for multiple models. With FF’s Light, Swift, and Empowering model, it expects to achieve a fully competitive supply chain and manufacturing system, targeting less than 25% of the typical R&D cost of traditional U.S. OEMs. This would allow FF to launch mass-market hit products with an extreme price-to-performance ratio, and reach its goal of tens of thousands of units sold within two years of mass production, subject to securing necessary agreements and funding.

 

S6 Middle East & China Business:

 

The Company is advancing FX production and sales preparation in the Middle East. A regional launch event will be held in parallel with the FX Super One Product Launch in June, underscoring the region’s strategic role as the “third pole” in FX’s global strategy. The Company is planning for more expansion in UAE thereafter.

 

S5 Finance and Capital Markets:

 

1. The Company is preparing to launch a new round of executive stock purchases, set to gradually roll out after this quarterly report, subject to relevant laws and regulations. Meanwhile, YT Jia has committed to invest the entirety of the after-tax amount of his $1.2 million Co-CEO appointment bonus into FF stock open market purchases, with at least a one-year lock-up.

 

2. The Company remains firmly committed to avoiding a reverse stock split and to protecting its Nasdaq listing. Future equity offerings will be carefully considered and focused on maximizing long-term value and managing stockholder dilution.

 

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3. FF continues to refine its capital strategy for raising the funds reasonably needed to support the FF and FX product roadmap.

 

4. The Company’s counterattacks against improper market manipulation and illegal short selling are already showing results. It has issued notices to several suspected parties, and several misleading videos have since been removed or addressed. FF will not hesitate to take further action if necessary. In addition, the Company is enhancing investor communication by setting up official and executive accounts on major stock forums to better engage with stockholders and promptly correct misinformation.

 

5. The Company is leveraging its unique advantages to launch a global M&A initiative, targeting high-value, cost-efficient acquisitions of AI technology companies and others in the mobility ecosystem — which could accelerate the realization of its intrinsic capital value.

 

6. The Company is working with advisors to build a compliant, efficient financial system to reduce the risk of delayed financial reporting and protect stockholder interests. At the same time, it is enforcing strict cost controls and focusing resources on core operations to ensure steady progress toward its strategic goals.

 

S7 Operations System Build-Up:

 

The Company plans to work with its advisors to secure support from government agencies at all levels, including incentives such as tax relief and subsidies, to ensure we stay ahead of regulatory changes worldwide.

 

EARNINGS WEBCAST

 

Faraday Future management will host a webcast today, May 8, 2025, at 8:00 p.m. Eastern time (5:00 p.m. Pacific time). Interested investors and other parties can listen to a webcast of the conference call by logging onto the Investor Relations section of the Company’s website at https://investors.ff.com/. A replay of the webcast will be available on the Company’s website shortly thereafter. More detail on FF’s 2025 Q1, when filed, can be found in our SEC filings and online at https://investors.ff.com/financial-information/sec-filings.

 

ABOUT FARADAY FUTURE

 

Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The new FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. For more information, please visit https://www.ff.com/us/.

 

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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 the Super One MPV, the FX brand, other potential FX models, future Nasdaq compliance, future actions against illegal short selling and market manipulation, future executive stock purchases, the reservation by JC Auto, the creation of a fleet service by JC Auto, the reservation by Sky Horse Auto LLC, the expansion of a fleet service by Sky Horse Auto LLC, and production and sales goals, 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, among others: the ability of JC Auto to successfully establish a premium fleet; the number of vehicles that JC Auto ultimately chooses to purchase from the Company, which may be as few as two; the ability of JC auto to identify purchasers for the Super One; the number of vehicles that Sky Horse Auto LLC ultimately chooses to purchase from the Company, which may be as few as one; market demand for MPV rentals, particularly in Southern California; the Company’s ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company’s ability to design and develop EREV technology; the Company’s ability to design and develop AI-based solutions; competition in the AI and EREV areas, where actual or potential competitors have or are likely to have substantial advantages relative to the Company, including but not limited to experience, expertise, funding, infrastructure and personnel; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, or FX, EREV, AI, and US geographic expansion; the Company’s ability to secure necessary agreements to license third-party range extender technology and/or license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company’s ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; and the Company’s ability to secure necessary permits at its Hanford, CA production facility; the potential impact of tariff policy; the ability of Company executives to purchase FFAI common stock; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; 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 Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC.

 

CONTACTS

 

Investors (English): ir@faradayfuture.com

 

Investors (Chinese): cn-ir@faradayfuture.com

 

Media: john.schilling@ff.com

 

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Exhibit 99.2

 

© 2024 FARADAY FUTURE Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) Fiscal First Quarter 2025 Earnings Presentation May 8, 2025 = © 2025 FARADAY FUTURE

 

 

© 2024 FARADAY FUTURE LEGAL DISCLAIMERS 2 Forward Looking Statements This presentation includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Pr ivate Securities Litigation Reform Act of 1995. When used in this presentation, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “see ks, ” “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 Faraday Future Intelligent Electric Inc.’s (the “Company’s”) “Bridge Strategy,” the Company’s growth strategy, fund rai sing activities and prospects, the development of markets in which the Company operates or seeks to operate, the production and delivery of the FF 91, the Faraday X(FX) brand, and future complianc e w ith Nasdaq listing requirements, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other imp ort ant 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. These f orward - looking statements speak only as of the date of this call, and the Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward - looking sta tement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to c ont inue as a going concern and improve its liquidity and financial position; the Company’s ability to regain compliance with, and thereafter continue to comply with, the Nasdaq listing require men ts; the Company’s ability to pay its outstanding obligations; the Company’s ability to raise necessary capital, including but not limited to the capital required to fund production of the FF 91 and the Bridge Strategy; the Company’s ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consoli dat ed financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; 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 estima tes 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 Company’s ability to cover future wa rrant claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s abi lit y to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of an y o f which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; insurance coverage; gener al economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actio ns may not be sufficient or may not achieve their expected results; circumstances outside of the Company’s control, such as natural disasters, climate change, health epidemics and pandemics, te rro rist attacks, and civil unrest; risks related to the Company’s operations in China; the success of the Company’s remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company’s ability to develop and protect its technologies; the Company’s ability to protect against cybersecurity risks; the ability of the Company to attract and retain employees; any adverse developments in existing legal proceedings or the initiation of new legal proceedings; and volatility of the Company’s stock pri ce. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10 - K filed with the Securities and Exchang e Commission (“SEC”) on March 31, 2025 , and other documents filed by the Company from time to time with the SEC. No Offer or Solicitation This presentation shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall the re 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.

 

 

© 2024 FARADAY FUTURE TABLE OF CONTENTS 3 1. 2025 Q1 Overview 2. Q1 Financial Highlights 3. Subsequent Events 4. 2025 Q2 and Full Year Outlook 5. Q&A 6. Appendix © 2024 FARADAY FUTURE Presentation Sequence: Matthias Aydt, Jerry Wang, Koti Meka, YT Jia

 

 

© 2024 FARADAY FUTURE 4 S1 Vehicle Delivery FF Client Base Expansion ̵ Two FF 91 2.0 Deliveries: California and New York S2 - S4 Product, Technology & AI AI Product Planning and Software continuous enhancement ̵ AI Hybrid Extended - Range System: Product and technology planning ̵ AI - Powered Vehicle Operation System: Delivered the first internal development version utilizing AI Agent technology ̵ Enhanced User Experience and Performance for FF 91: Updated the FF 91 software to version 57 © 2025 FARADAY FUTURE 2025 Q1 OVERVIEW Overall H ighlights ̵ Q1 total net asset increased by $24.8 million, or 21.6 % compared to year - end 2024 ̵ Announced FX’s First Class AI - MPV product s trategy and FX Super One concept ̵ Officially enter East Coast market with the 1st FF 91 2.0 delivery in NYC ̵ Kicked off the U.S. Homologation and testing including ADAS (Advanced Driver - Assistance System) for FX Prototype Mules of Super One ̵ Ticker Symbol change to "FFAI“ ̵ Established the Future AI Hybrid Extended - Range (AIHER) subsidiary ̵ Secured new $41 million in funding commitments, subject to closing conditions ̵ Jerry Wang appointed Global President of Faraday Future Notes: 1. ADAS: stands for Advanced Driver Assistance Systems. It refers to electronic systems in vehicles that use sensors, cameras, radar, and software to assist the driver and improve road safety 2. S: Denotes “Strategy” pillars (e.g., S1 – S7 represent our core “Strategy” focus areas) Presentation Sequence: Matthias Aydt, Jerry Wang, Koti Meka, YT Jia S6 Global Strategy FX Development in Pipeline, Global Strategy Progress on Track ̵ The Middle East facility in Ras Al Khaimah Economic Zone (RAKEZ) ready for occupancy and the Middle East team will take it over soon S7 Operatio ns System Build - up Focus on FX Strategy and AI, Enhanced Operation ̵ AI Focused Event and Recruiting: Hosted “FF Open AI Day” ̵ Operation E fficiency and Compliance Improvement S5 Capital Successful Financing and More Investor Interaction ̵ Funding: Received $20 million from the prior financing round and secured an additional $41 million in new funding, subject to certain closing conditions ̵ Investor Event: Hosted New York Investor Event for increasing stakeholder engagement and announced plans to open a New York Metro office

 

 

© 2024 FARADAY FUTURE 2025 Q1 FINANCIAL HIGHLIGHTS © 2024 FARADAY FUTURE 5 ̵ Revenue: Revenue was $0.3 million, driven by one new leased vehicle delivered in the period and the vehicles leased in the prior perio ds ̵ Net Loss from Operations: Net loss from operations was $43.8 million , largely in line with the $43.6 million reported in Q1 2024. Total operating expenses were $22.8 million , a slight decrease of $0.2 million compared to Q1 2024 ̵ Financing Cash Inflow: Financing activities generated $24.6 million in cash during Q1 2025, compared to $25.0 million in Q4 2024. This marks the third consecutive quarter in which financing cash inflows exceeded operating cash outflows , helping to support operations and reduce liquidity pressure ̵ Net Assets: Total net assets increased 21% to $139.8 million compared to year - end 2024 . The debt - to - asset ratio improved by approximately 700 basis points to 66%, primarily due to a $25.8 million reduction in outstanding notes payable ̵ Improved Financial Stability: Ongoing financing efforts and a strengthened capital structure have contributed to improved financial stability since the end of H1 2024 Presentation Sequence: Matthias Aydt, Jerry Wang, Koti Meka, YT Jia

 

 

© 2024 FARADAY FUTURE SUBSEQUENT EVENTS FX Development A Clear Indication of Early Success of FX Strategy ̵ FX 2B Preorder: Received non - binding 1,000 B2B order from the East Coast for FX vehicles, and 300 non - binding pre - order from the West Coast ̵ Progress of FX’s Testing and Validation: N ow undertaking public road testing to e nhance quality, performance, technology, and overall user experience. Continuing the U.S. homologation and testing including ADAS for FX Prototype Mules of S uper One, and k icked off U.S. homologation and road - testing FX 6 prototype mules O perations System Build - up FF Enters Founder + Professional Manager Management Structure ̵ YT Jia Appointed Co - CEO: H is new equity incentives follow "Stockholders First" approach, tied to market capitalization and stock price Capital Protect Interests of Stockholders ̵ Issued statement on potential illegal short selling and online infringement to protect interests of stockholders ̵ Zero Tolerance for knowingly false and misleading claims about the company. Some misleading content already removed or addressed Manufacturing & Supply Chain ̵ Supplier Relations : Improved supplier relations and strengthened supply chain stability for win - win collaboration Investor Interaction Increased Co - creation events for more transparency ̵ Hosted Exclusive FX Developer Co - Creation Program: Featuring FX prototype mule test rides ̵ Hosted FFAI Investor Community & FX Developer Co - Creation Day: Received endorsements from California Politicians supporting FF’s Global Automotive Bridge Strategy Additional Events ̵ Participated in Jones Technology and Innovation Conference in Las Vegas ̵ Joined a business roundtable at the White House in Washington, D.C © 2024 FARADAY FUTURE 6 Presentation Sequence: Matthias Aydt, Jerry Wang, Koti Meka, YT Jia Notes: ADAS: stands for Advanced Driver Assistance Systems. It refers to electronic systems in vehicles that use sensors, cameras, radar, and software to assist the driver and improve road safety

 

 

© 2024 FARADAY FUTURE 2025 Q2 and Full Year Outlook S1 Vehicle Delivery ̵ First FX Super One Product Launch by End of June • Superior product power at lower prices than the Escalade in the U.S. and the Alphard in China; Redefines s tandard price for premium business and family vehicles. A disruptor to Alphard in Asia and Escalade in US in the AI - EV Era • Target to achieve 10,000 paid pre - orders, including non - refundable and refundable deposits, all of which will be for non - binding reservations, placed before and within 48 hours of the launch event • B2C pre - order collection fully active following Super One product launch • FX Super One product launch to trigger official countdown to user deliveries • The Birth Year of the First Class AI - MPV and starting point of disruption in premium business and family vehicle segment ̵ Continues expansion of FX Super One’s B2B sales ̵ FX Super One GTM Phase I: Enter seven high - demand AIEV States in US including CA, NY, FL, TX, WA, NJ, and NV S2 - S3 Product, Technology & AI ̵ First FX vehicle roll off the line by end of the year ̵ Rear design rendering of the production version of the FX Super One Released ̵ Disruptive RAV4 - Class AIEV model planned for 2025 Q3 launch ̵ All in AI. Accelerate the development of AIHER system, AI cabin, and aiDriving platform © 2024 FARADAY FUTURE 7 S4 Supply Chain & M anufacture ̵ Hanford factory is preparing a flexible production line for FX units with an annual capacity of 30,000+ total units, including FF ̵ Light, Swift and Empowering model to drive high ROI R&D system; targeting equivalent product & supply chain capabilities at <25% of traditional OEM R&D cost S5 Capital ̵ Senior Executive team to Initiate Stock Purchase Program post earnings, subject to regulatory requirements and restrictions ̵ Prudent and disciplined equity expansion plan with minimal dilution; equity issuance only in direct support of business growth and value creation ̵ Ongoing counterattacks against potential Illegal short selling ̵ YT Jia's new equity compensation tied to the company's stock price performance or market capitalization improvement, helping promote stockholder alignment ̵ Launching global M&A to acquire strategic AI technology and mobility ecosystem companies, unlocking intrinsic capital value. ̵ Build a compliant financial system and enforce cost discipline to drive strategic focus S6 Global Strategy ̵ Aim to expedite the launch of FX production and product sales in UAE, strengthening the Middle East’s role S7 Operations System Build - up ̵ Accelerate Efforts to obtain Tariff exemptions and Incentives; navigate evolving global trade policies Presentation Sequence: Matthias Aydt, Jerry Wang, Koti Meka, YT Jia Notes: S: Denotes “Strategy” pillars (e.g., S1 – S7 represent our core “Strategy” focus areas)

 

 

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© 2024 FARADAY FUTURE Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) Appendix May 8, 2025 = © 2024 FARADAY FUTURE

 

 

© 2024 FARADAY FUTURE APPENDIX – Q1 2025 UNAUDITED CONSOLIDATED BALANCE SHEETS (In thousands) © 2024 FARADAY FUTURE 10 December 31, 2024 March 31, 2025 Assets $ 7,174 $ 9,493 Cash and restricted cash 27,486 27,124 Inventory, net 37,221 39,854 Deposits and other current assets 71,881 76,471 Total current assets 348,587 331,465 Property, plant and equipment, net 1,761 1,208 Operating lease right - of - use asset, net 3,171 1,440 Other non - current assets $ 425,400 $ 410,584 Total assets Liabilities and stockholders’ equity $ 71,414 $ 70,697 Accounts payable 56,754 61,492 Accrued expenses and other current liabilities 28,864 23,624 Warrant liabilities 23,252 22,368 Accrued interest 761 803 Other financing liabilities, current portion 2,128 1,364 Operating lease liabilities, current portion 9,534 8,430 Notes payable 192,707 188,778 Total current liabilities 38,698 40,489 Other financing liabilities, long term portion 14 10 Operating lease liabilities, less current portion 48,018 23,367 Notes payable, less current portion and other liabilities 29,709 17,057 Derivative call options 1,287 1,075 Other liabilities 310,433 270,776 Total liabilities Stockholders' equity 6 8 Class A Common Stock, 0.0001 par value — — Class B Common Stock, 0.0001 par value — — Preferred Stock, 0.0001 par value 4,421,563 4,456,374 Additional paid - in capital 7,744 8,050 Accumulated other comprehensive income (4,314,346) (4,324,624) Accumulated deficit 114,967 139,808 Total stockholders' equity $ 425,400 $ 410,584 Total liabilities and stockholders’ equity

 

 

© 2024 FARADAY FUTURE © 2024 FARADAY FUTURE 11 Three Months Ended March 31, 2024 Three Months Ended March 31, 2025 $ 2 $ 316 Revenue 20,687 21,381 Cost of revenue (20,685) (21,065) Gross profit Operating expenses 6,688 6,419 Research and development 2,474 2,629 Sales and marketing 13,848 13,674 General and administrative — — Settlement on accrued research and development expenses (87) 44 Other operating expenses 22,923 22,766 Total operating expenses (43,608) (43,831) Loss from operations 27,878 51,181 Change in fair value of notes payable, warrant liabilities, and derivative call options (25,698) (17,100) Loss on settlement of notes payable (7,319) (2,302) Interest expense 530 1,784 Other expense, net (48,217) (10,268) Loss before income taxes — (10) Income tax provision $ (48,217) $ (10,278) Net loss APPENDIX – Q1 2025 UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands)

 

 

© 2024 FARADAY FUTURE APPENDIX – Q1 2025 UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS(1/2) © 2024 FARADAY FUTURE 12 March 31, 2024 March 31, 2025 Cash flows from operating activities $ (48,217) $ (10,278) Net loss Adjustments to reconcile net loss to net cash used in operating activities: 17,728 17,527 Depreciation and amortization expense 749 553 Amortization of operating lease right - of - use assets and intangible assets — 814 Non - cash interest expense (87) 44 Loss on disposal of property, plant, and equipment 542 301 Stock - based compensation 11,403 15,920 Loss on settlement of notes payable 14,295 1,180 Loss on settlement of related party notes payable (518) — Loss on forgiveness of accounts payable and deposits, net — (295) HSL s.l.r. settlement adjustment (2,105) — Gain on foreign exchange (27,885) (51,458) Change in fair value of notes payable, warrant liabilities, and derivative call options 7 277 Change in fair value of related party notes payable and related party warrant liabilities Changes in operating assets and liabilities: — (664) Accounts receivables 5,955 (2,823) Deposits 4,804 362 Inventory (1,808) 2,515 Other current and non - current assets 3,559 (651) Accounts payable 1,749 6,945 Accrued expenses and other current and non - current liabilities — 139 Related party accrued expenses and other current and non - current liabilities 5,114 — Accrued interest expense — — Accrued related party interest expense 751 — Financial obligations on lease back transaction (755) (703) Operating lease liabilities $ (14,719) $ (20,295) Net cash used in operating activities (In thousands)

 

 

© 2024 FARADAY FUTURE APPENDIX – Q1 2025 UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS(2/2) © 2024 FARADAY FUTURE 13 March 31, 2024 March 31, 2025 Cash flows from investing activities 87 — Proceeds from the sale of equipment (99) (1,568) Payments for property and equipment (12) (1,568) Net cash used in investing activities Cash flows from financing activities 9,038 22,000 Proceeds from notes payable, net of original issuance discount — (309) Payments of notes payable (25) (99) Payments of notes payable issuance costs 3,000 1,876 Proceeds from related party notes payable — — Capital contributions — 1,133 Proceeds from lease back transaction — — Payments of finance lease obligations — — Proceeds from exercise of stock options — — Proceeds from exercise of warrants — — Proceeds from issuance of Class A Common Stock 12,013 24,601 Net cash provided by financing activities (2) (419) Effect of exchange rate changes on cash and restricted cash (2,720) 2,319 Net (decrease) increase in cash and restricted cash 1,898 7,144 Cash 2,127 30 Restricted cash 4,025 7,174 Cash and restricted cash, beginning of period $ 1,305 $ 9,493 Cash and restricted cash, end of period (In thousands)

 

 

© 2024 FARADAY FUTURE Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) Q & A May 8, 2025 = © 2024 FARADAY FUTURE

 

 

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