The Company signed with three B2B partners and received non-refundable deposits and non-binding preorders from them totaling more than 200 units of the FX Super One, following the FX Super One Middle East Final Launch on Oct. 28.
Global asset management giant Vanguard’s Q3 13G filing showed it held about 7.1 million FFAI shares, up 36 percent from the end of Q2.
Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Global Co-CEO of FF.
“Welcome to the 27th issue of our Weekly Report, also our first Half-Year Edition. Many investors have told us that reading this weekly report has already become a habit. It not only records the growth of FF and FX but also represents the process of fulfilling our commitments and co-creating the future together. To begin, here are three pieces of good news to share with everyone:
Firstly, FF officially signed a Strategic Advisory Agreement with Chris Nixon Cox, grandson of former U.S. President Richard Nixon and Board Member of the Nixon Foundation, to accelerate the implementation of the company’s “EAI + Crypto” Dual-Flywheel and Dual-Bridge Strategy. We are very pleased to collaborate with Chris, a highly influential figure across the global political and business arenas with strong leadership in investment, policy, and regulatory affairs. We believe these valuable experiences could play an important role in helping FFAI achieve success at this pivotal stage of global expansion.
Secondly, global asset management giant Vanguard’s Q3 13G filing showed it held about 7.1 million FFAI shares, up 36 percent from the end of Q2.
Thirdly, following the FX Super One Middle East Final Launch, we signed with three B2B partners and received non-refundable deposits and non-binding preorders from them totaling more than 200 units of FX Super One, outperforming the initial target we had set. For the luxury EAI-MPV market in the Middle East, which is still in its early stage, achieving such results in such a short time as a new entrant proves that the groundwork we’ve laid over the past two years under our Three-Pole Strategy is truly paying off. With that, let’s dive into other progress we made this week in the EAI flywheel.
On S2-S4 Product & Technology, Supply Chain, Production, and Delivery:
The software and hardware upgrades and integration of the EAI F.A.C.E. production version, the most anticipated feature of our Super One, are now underway. The upgraded product could deliver an even more transformative EAI F.A.C.E. experience for our users.
On S5 Capital Market and Finance:
The team is now actively preparing for the quarterly financial report and the earnings call. We expect to file on schedule and present a comprehensive update on FX’s latest progress during the call.
In addition, FF was invited to attend the 3rd Annual Bahamas Summit, where our Global President Jerry Wang delivered an important presentation on FF and FX that received highly positive feedback.
The FF team, together with the Qualigen team, also attended the ThinkEquity Conference held in New York City this week, meeting with over 30 investors and receiving broad attention from Wall Street and also the broader capital market.
Going to S6 in the Middle East:
We also officially announced that soccer superstar Andrés Iniesta has become the first global owner of the FX Super One and our Developer Co-Creation Officer. Further details on our deepened collaboration with Andrés will be announced soon. The renowned football media outlet FourFourTwo ranked Andrés third among the greatest football players of the 21st century, highlighting his historic influence. Our collaboration with Andrés reflects the trust and recognition of a global sports legend in FF’s company and products.
A quick look at the Crypto Flywheel:
This week, all businesses under the Crypto Flywheel made steady progress. In particular, our Middle East subsidiary received its first FX Super One deposit paid with cryptocurrency, further validating the tremendous value and energy of our Web2 + Web3 meta-chemistry, where both ecosystems empower and reinforce each other.
Finally, on Issues, Reflections, and Solutions:
Some stockholders have asked why the FX 4 rear design rendering was not shown at the October 28 launch event, as previously mentioned. Here’s the explanation:
First, FX 4 is planned to make its debut in the U.S. market, so we decided to keep the Middle East launch focused on its core highlights and made corresponding content adjustments. Second, the overall timeline for FX 4 has been slightly shifted based on our latest strategic planning, and we plan to show its rear design rendering during the time period of the Los Angeles Auto Show in November, subject to securing the necessary agreements. We do look forward to sharing more updates at that time. And that’s all for today, I will see you next week.”
