Faraday Future Conducts First FX AIEV Co-Creation Experience Event at Its Los Angeles Headquarters

LOS ANGELES--(BUSINESS WIRE)--Apr 6, 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 held the first FX AIEV Co-Creation Experience Event for Company employees at its Los Angeles headquarters. The event allowed FF employees to drive and experience various FX prototype mules. Xiao (Max) Ma, Global CEO of the FX brand was on hand to kick off the event and gave employees an update on the progress of the FX brand along with goals and expectations for 2025. The ride and drive event kicked off what will be the first of many more experiential events for the planned FX brand, which will be held regularly throughout this year in anticipation of the first FX model to roll off the line the end of 2025.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250406936652/en/

The FX brand is planned to target the mass market segment, advancing a new chapter in the Company's overall product strategy. FX currently plans for up to three models: an AI-MPV product—named the Super One, the FX 5, and the FX 6, focusing on the $20,000 - $80,000 base price segment.

FX is making solid progress since the beginning of this year. The FX Super One is anticipated to be unveiled to the public in June 2025, and two FX 6 prototype mules that recently arrived in Los Angeles are undergoing holistic testing and validation, including focusing on the Advanced Driver-Assistance Systems (ADAS) of the vehicles.

“It was truly an exciting day to be able to drive and experience these new FX models,” said Max. “We are using this event to kick off the first of many ride & drives for these vehicles this year with the FX planned models, the first of which will come off the line the end of 2025.”

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 FF 91 2.0 Futurist Alliance, 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 2.0, 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,” “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, the FX 5 and the FX 6, 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 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 warrant 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.

Faraday Future Conducts First FX AIEV Co-Creation Experience Event at Its Los Angeles Headquarters

Faraday Future Conducts First FX AIEV Co-Creation Experience Event at Its Los Angeles Headquarters

WASHINGTON (AP) — The Trump administration has moved to classify more than 6,000 living immigrants as dead, canceling their Social Security numbers and effectively wiping out their ability to work or receive benefits in an effort to get them to leave the country, according to two people familiar with the situation.

The move will make it much harder for those affected to use banks or other basic services where Social Security numbers are required. It’s part of a broader effort by President Donald Trump to crack down on immigrants who were allowed to enter and remain temporarily in the United States under programs instituted by his predecessor, Joe Biden.

The Trump administration is moving the immigrants' names and legally obtained Social Security numbers to a database that federal officials normally use to track the deceased, according to the two people familiar with the moves and their ramifications. They spoke on condition of anonymity Thursday night because the plans had not yet been publicly detailed.

The officials said stripping the immigrants of their Social Security numbers will cut them off from many financial services and encourage them to “self-deport” and abandon the U.S. for their birth countries.

It wasn't immediately clear how the 6,000-plus immigrants were chosen. But the Trump White House has targeted people in the country temporarily under Biden-era programs, including more than 900,000 immigrants who entered the U.S. using that administration's CBP One app.

On Monday, the Department of Homeland Security revoked the legal status of the immigrants who used that app. They had generally been allowed to remain in the U.S. for two years with work authorization under presidential parole authority during the Biden era, but are now expected to self-deport.

Meanwhile, a federal judge said Thursday that she was stopping the Trump administration from ordering hundreds of thousands of Cubans, Haitians, Nicaraguans and Venezuelans with temporary legal status to leave the country later this month.

A representative from the Social Security Administration did not respond to a request for comment on the news that living immigrants were being classified as dead. The agency maintains the most complete federal database of individuals who have died, and the file contains more than 142 million records, which go back to 1899.

The Privacy Act allows the Social Security Administration to disclose information to law enforcement in limited circumstances, which includes when a violent crime has been committed or other criminal activity.

DHS and the Treasury Deprartment signed a deal this week that would allow the IRS to share immigrants’ tax data with Immigration and Customs Enforcement for the purpose of identifying and deporting people illegally in the U.S. The agreement will allow ICE to submit names and addresses of immigrants inside the U.S. illegally to the IRS for cross-verification against tax records.

The acting IRS commissioner, Melanie Krause, who had served in that capacity since February, stepped down over that deal.

In March, meanwhile, a federal judge temporarily blocked a team charged with cutting federal jobs and shrinking the government led by billionaire Elon Musk from Social Security systems that hold personal data on millions of Americans, calling their work there a “fishing expedition.”

Skye Perryman, president and CEO of Democracy Forward, an advocacy group that has challenged various Trump administration efforts in court, said her organization would likely sue over the Social Security numbers as well, once more details become available.

“This President continues to engage in lawless behavior, violating the law and abusing our systems of checks and balances,” Perryman said.

Treasury Secretary Scott Bessent speaks to reporters outside the West Wing of the White House, Wednesday, April 9, 2025, in Washington. (AP Photo/Jacquelyn Martin)