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Faraday Future Appoints Jerry Wang as President of FF to Oversee Various Company Operations Including Corporate Strategy and Investor Relations

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Faraday Future Appoints Jerry Wang as President of FF to Oversee Various Company Operations Including Corporate Strategy and Investor Relations
News

News

Faraday Future Appoints Jerry Wang as President of FF to Oversee Various Company Operations Including Corporate Strategy and Investor Relations

2025-03-24 18:02 Last Updated At:18:21

LOS ANGELES--(BUSINESS WIRE)--Mar 24, 2025--

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future,” “FF,” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the appointment of Jerry Wang as President of FF. He will report directly to Global CEO Matthias Aydt and Founder & Chief Product and User Ecosystem Officer (CPUO) YT Jia.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250324846327/en/

Mr. Wang will oversee Corporate Strategy, Corporate Operations & IT, Risk Management, Capital Markets & Investor Relations, and Human Resources. Additionally, he will directly lead the Business Development (BD) team, driving FF and FX’s global business to the next phase of growth in the U.S., Middle East and China regions.

As the Company’s President, Mr. Wang will support the overall operations and management of the Company, with a focus on maximizing value for investors. He will lead financing efforts, drive external strategic partnerships and resource integration, enhance operational efficiency through cost reduction and efficiency improvements, and accelerate system development by optimizing management mechanisms and operational processes, laying a solid foundation for the Company’s long-term growth.

“Jerry is a longtime ally and partner to me personally and we have a mutual understanding which allows us to operate with very high efficiency. He has a level of wisdom, assessing and judging what we can do and what we should not attempt to do, which is very impressive,” said Matthias Aydt, Global CEO of FF. “Jerry is well recognized and trusted within the investor community and we expect that his return will help directly drive more strategic investors to join and strengthen the capital market’s confidence in FF and FX’s long-term development.”

Mr. Wang is one of the original founding team members of FF, starting in 2014, and was deeply involved in FF’s development at its inception, including successfully raising multi-billion-dollar funding to FF, including leading the FF initial public offering (IPO) in 2021. He is also the President of FF Global Partners (FFGP) and has accumulated extensive industry experience and a broad global network across key markets, including Asia-Pacific and the Middle East. His appointment is expected to accelerate FX business execution from an organizational perspective, supporting the Company in achieving its strategic goals.

Currently, FF is at a pivotal stage of development after announcing its FX brand. The Company expects that the appointment of Mr. Wang will not only help drive the successful execution of the FX strategy but also mark further optimization and upgrading of the Company’s organizational structure. Furthermore, this appointment is also a key strategic move to strengthen confidence within the global capital markets.

Regarding his appointment, Mr. Wang stated:

"My top priority is to drive growth of shareholder value, including ensure the first FX vehicle rolls off the production line by the end of 2025, laying a solid foundation for large-scale production thereafter and helping to make the Company a success. At the same time, I am committed to improving operational efficiency and capital utilization, making every effort to secure the necessary funding for the business. Moving forward, I will engage with multiple potential partners to explore opportunities including, but not limited to, financing and mergers & acquisitions, to drive the true value realization of FFAI. Additionally, I aim to build a highly efficient, agile, self-operating, and self-evolving management system to ensure the successful achievement of our strategic goals.”

Jerry Wang holds a bachelor’s degree in finance from the Central University of Finance and Economics in Beijing.

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 Company’s new FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF91, targeting a broader market with middle-to-low price range offerings. For more information, please visit https://www.ff.com/us/

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” and “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 FX brand and Mr. Wang’s plans for his role regarding the Company, are not guarantees of future performance, conditions or results, and are subject to 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: Mr. Wang’s ability to successfully drive external strategic partnerships and resource integration, enhance operational efficiency, accelerate system development, or improve capital utilization; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company's ability to secure necessary agreements to license and/or produce Super One, FX 5 or FX 6 vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate the Super One, FX 5 or FX 6 for sale in the U.S., the Middle East, or elsewhere; the Company's ability to secure necessary permits at its Hanford, CA production facility; 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 May 28, 2024, as amended on May 30, 2024, and June 24, 2024, as updated by the “Risk Factors” section of the Company’s first quarter 2024 Form 10-Q filed with the SEC on July 30, 2024, and other documents filed by the Company from time to time with the SEC.

Faraday Future Appoints Jerry Wang as President of FF to Oversee Various Company Operations Including Corporate Strategy and Investor Relations

Faraday Future Appoints Jerry Wang as President of FF to Oversee Various Company Operations Including Corporate Strategy and Investor Relations

The Israeli military on Wednesday ordered the evacuation of parts of Gaza City as it steps up its renewed offensive against Hamas after breaking the ceasefire last week. Israel’s bombardments and ground operations have caused vast destruction and at their height displaced some 90% of Gaza’s population.

Thousands of Palestinians marched in heavily destroyed northern Gaza on Wednesday in the second day of anti-war protests. It’s a rare display of public anger against Hamas, although the protests appeared generally aimed against the war in Gaza and their insufferable living conditions.

Israel has cut off all food, fuel, medicine and other supplies to war-torn Gaza's roughly 2 million people since the beginning of the month — a strategy that rights groups say is a war crime.

Israel has vowed to increase military pressure until Hamas returns the remaining 59 hostages — 24 of whom are believed to be alive. Israel also demands Hamas disarm and send its leaders into exile. Hamas says it won't release the remaining hostages without a lasting ceasefire and full Israeli withdrawal from Gaza.

Here's the latest:

At least nine Palestinians were killed Wednesday in two separate Israeli airstrikes in central Gaza, medics said.

One strike hit a group of Palestinians gathered outside a charity providing hot meals in the Nuseirat refugee camp. At least five people, including a woman and her adult daughter, were killed in the strike, according to the Awda hospital, which received the casualties.

A separate strike on a tent killed a father, mother and their daughter in the town of Zwaeida, according to the Al-Aqsa Martyrs Hospital in the nearby city of Deir al-Balah. The hospital said the explosion tore the man's body in half.

The Israeli military had no immediate comment.

In the town of Beit Lahiya, where a similar protest took place Tuesday, about 3,000 people demonstrated Wednesday, with many chanting “the people want the fall of Hamas.” In the hard-hit Shijaiyah neighborhood of Gaza City, dozens of men chanted “Out, out out! Hamas get out!”

“Our children have been killed. Our houses have been destroyed,” said Abed Radwan, who said he joined the protest in Beit Lahiya “against the war, against Hamas, and the (Palestinian political) factions, against Israel and against the world’s silence.”

“You too should demand the removal of Hamas from Gaza and the immediate release of all Israeli hostages. That is the only way to stop the war,” Defense Minister Israel Katz said Wednesday.

One Palestinian who protested on Tuesday told The Associated Press they regretted participating because of Israeli media coverage, which emphasized the opposition to Hamas.

The protester, who spoke on condition of anonymity for fear of retribution, said they joined the demonstration in the heavily destroyed northern town of Jabaliya because “everyone failed us.”

They said they chanted against Israel, Hamas, the Western-backed Palestinian Authority and Arab mediators. They said there were no Hamas security forces at the protest but scuffles broke out between supporters and opponents of the group.

Senior Hamas official Bassem Naim, in a post on Facebook, wrote that people had the right to protest but that their focus should be on the “criminal aggressor,” Israel.

“The exploitation of these tragic human conditions is rejected and denounced, either to pass on dubious political agendas or to drop responsibility for the criminal aggressor, which is the occupation and its army,” he wrote.

The militant group has violently cracked down on previous protests. This time no outright intervention was apparent, perhaps because Hamas is keeping a lower profile since Israel resumed the war.

The United Nations Population Fund said Israel’s ongoing aid blockade into Gaza is creating a critical shortage of maternal health supplies. They include much needed drugs for pregnancy and to prevent deaths and complications during childbirth.

Since the beginning of the month, Israel has cut off the entry of all food and other goods into Gaza, and last week resumed bombardment as it tries to pressure Hamas to accept its demands to extend the January ceasefire.

UNFPA said its supplies are languishing at the border, including more than 50 ultrasounds to monitor fetal health, nine incubators and 350 midwifery kits to help during deliveries, impacting more than 15,000 women.

The group said pregnant women and newborns in Gaza are facing higher than normal rates of complications, driven by widespread malnutrition, which is being compounded by the aid blockade. Since the blockade around 520 babies — one in five —have required advanced medical care that is increasingly scarce, it said.

Lawyers representing a Gaza hospital director detained in an Israeli raid late last year say an Israeli court has extended his detention for another six months.

Israeli troops detained Dr. Hossam Abu Safiya when they raided Kamal Adwan Hospital in December. He was held without access to a lawyer for 47 days and has not been charged, according to Al Mezan, a human rights group representing him in court.

Al Mezan said the Beersheba District Court issued the order extending his detention on Tuesday. It said prosecutors submitted secret evidence alleging he is a threat to Israeli security, allegations he denies. There was no immediate comment from the Israeli military.

Israel has raided hospitals in Gaza on several occasions during the 17-month war with Hamas, accusing the militant group of using them for military purposes. Hospital staff deny the allegations and accuse Israel of recklessly endangering civilians.

An Israeli co-director of an Oscar-winning film about settler violence said the Academy of Motion Picture Arts and Sciences refused to publicly condemn the beating and detention of the Palestinian co-director by Israeli soldiers and settlers in the occupied West Bank.

Writing on X, Yuval Abraham, co-director of “No Other Land,” wrote that several members of the academy, which awards the Oscars, advocated in vain for the group to make a statement denouncing the attack on Hamdan Ballal. He said he was told that the academy would not denounce the attack because it involved other Palestinians.

“In other words, while Hamdan was clearly targeted for making No Other Land … he was also targeted for being Palestinian — like countless others every day who are disregarded. This, it seems, gave the Academy an excuse to remain silent when a filmmaker they honored, living under Israeli occupation, needed them the most,” wrote Abraham.

He noted that the European Academy had voiced solidarity with Ballal following the attack and said it was not too late for the American Academy to do the same. The military has denied that Ballal was beaten.

Palestinians chanted against Hamas during an anti-war protest in the Gaza Strip, according to videos circulating online. It was a rare show of public anger against the militant group, which has long repressed dissent and still rules the territory 17 months into the war with Israel.

The videos, which appeared to be authentic, showed hundreds of people taking part in an anti-war protest in the heavily destroyed northern town of Beit Lahiya on Tuesday. People held signs saying “Stop the war,” “We refuse to die,” and “The blood of our children is not cheap.”

Some could be heard chanting: “Hamas out!” Other videos appeared to show Hamas supporters dispersing the crowds.

A similar protest occurred in the heavily destroyed area of Jabaliya on Tuesday, according to witnesses.

The Israeli military has ordered the evacuation of parts of Gaza City as it steps up its renewed offensive against Hamas.

The latest orders issued Wednesday apply to Zeitoun, Tel al-Hawa and other neighborhoods where Israeli forces have carried out previous operations during the 17-month war. The military said it will soon respond to rocket fire from the area and ordered residents to move south.

Israel broke its ceasefire with Hamas last week when it launched a surprise wave of strikes that killed hundreds of Palestinians.

It has vowed to increase military pressure until Hamas returns the remaining 59 hostages it holds – 24 of whom are believed to be alive. Israel has also demanded that Hamas disarm and send its leaders into exile.

Hamas has said it will not release the remaining hostages without a lasting ceasefire and full Israeli withdrawal from Gaza.

The war was triggered by Hamas’ Oct. 7, 2023, attack into Israel, in which Palestinian militants killed some 1,200 people, mostly civilians, and abducted 251. Israel’s retaliatory war has killed over 50,000 people, according to Gaza’s Health Ministry. The ministry does not distinguish between civilians and combatants in its count but says women and children make up over half the dead.

Amani Abu Aker holds the body of her two-year-old niece Salma, killed during an Israeli army strike, before their burial at the Baptist hospital in Gaza City, Monday March 24, 2025. (AP Photo/Jehad Alshrafi)

Amani Abu Aker holds the body of her two-year-old niece Salma, killed during an Israeli army strike, before their burial at the Baptist hospital in Gaza City, Monday March 24, 2025. (AP Photo/Jehad Alshrafi)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Israelis block a highway between Jerusalem and Tel Aviv in a protest against Prime Minister Benjamin Netanyahu's government, demanding the realese of the hostages held by Hamas in the Gaza Strip, Wednesday, March 26, 2025. (AP Photo/Ohad Zwigenberg)

Palestinians walk next to a tent camp for displaced by the Israeli air and ground offensive on the Gaza Strip in west of Gaza Strip, Tuesday, March 25, 2025. (AP Photo/Jehad Alshrafi)

Palestinians walk next to a tent camp for displaced by the Israeli air and ground offensive on the Gaza Strip in west of Gaza Strip, Tuesday, March 25, 2025. (AP Photo/Jehad Alshrafi)

Palestinians walk amid the destruction caused by the Israeli air and ground offensive at Al-Shati camp, Gaza City, Tuesday, March 25, 2025. (AP Photo/Jehad Alshrafi)

Palestinians walk amid the destruction caused by the Israeli air and ground offensive at Al-Shati camp, Gaza City, Tuesday, March 25, 2025. (AP Photo/Jehad Alshrafi)

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