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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): August 19, 2024
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 |
|
FFIE |
|
The Nasdaq Stock Market LLC |
Redeemable warrants, exercisable for shares of Class A common stock at an exercise price of $110,400.00 per share |
|
FFIEW |
|
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 8.01 Other Events.
On August 19, 2024, Faraday Future Intelligent
Electric Inc. issued a press release announcing that it will hold a launch event for its China-U.S. Automotive
Bridge Strategy on September 19, 2024.
The
information contained in this Current Report on Form 8-K, including Exhibit 99.1 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:
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: August 19, 2024 |
By: |
/s/ Jonathan Maroko |
|
Name: |
Jonathan Maroko |
|
Title: |
Interim Chief Financial Officer |
2
Exhibit 99.1
Faraday Future Announces Launch Event Date for
China-U.S. Automotive Bridge Strategy
| · | FF seeks to leverage its unique bridge value to integrate the strengths
of the U.S. automotive industry with those of Chinese OEMs and parts suppliers and their respective supply chains. |
Los Angeles, CA (Aug. 19, 2024) -- Faraday Future Intelligent
Electric Inc. (Nasdaq: FFIE) (“FF”, “Faraday Future”, or “Company”), a California-based global shared
intelligent electric mobility ecosystem company, today announced that it will hold a launch event for its China-U.S. Automotive Bridge
Strategy on September 19, 2024. The event will provide more details and an execution plan for the strategy and introduction of FF’s
second automotive brand.
FF’s China-U.S. Automotive Bridge Strategy and second brand approach positions it to leverage
cutting-edge AI and software technologies for its users across multiple market segments, potentially accelerating FF’s mass-market
entry while maintaining its ultra-luxury offering. FF remains focused on executing its global strategy and bringing its unique vision
of intelligent electric mobility to a broader audience. The Bridge Strategy marks a return to a two-brand approach. As part of
its dual-home-market strategy, FF expects to leverage its unique bridge value to integrate the strengths of the U.S. automotive industry
with those of Chinese original equipment manufacturers (OEMs) and parts suppliers and their respective supply chains, focusing on the
$20,000 to $80,000 price segment.
“Our Bridge Strategy could introduce a ‘performance capable
EV at a fraction of the price,’ by empowering a second brand with much of the core technologies used on the $300,000 FF 91,”
said Matthias Aydt, Global CEO of Faraday Future. “A mass-market second brand could make the ‘AI car of the future’
the AI car of the people”
The Company has engaged in discussions with several leading Chinese
OEMs and global suppliers, receiving positive feedback on how FF could help build a bridge between U.S. and Chinese automotive industries
through industrial coordination and collaboration. The platform would leverage FF’s expertise and capabilities in product, technology,
regulation processes, along with its manufacturing plant in Hanford, California.
ABOUT FARADAY FUTURE
Faraday Future is the pioneer of the Ultimate AI TechLuxury ultra spire
market in the intelligent EV era, and the disruptor of the traditional ultra-luxury car civilization epitomized by Ferrari and Maybach.
FF is not just an EV Company, but also a software-driven intelligent internet Company. Ultimately FF aims to become a User Company by
offering a shared intelligent mobility ecosystem. FF remains dedicated to advancing electric vehicle technology to meet the evolving needs
and preferences of users worldwide, driven by a pursuit of intelligent and AI-driven mobility.
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 China-U.S. Automotive Bridge Strategy, a second brand, integrating the Company’s AI and software into a second brand, , 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 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 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.
CONTACTS
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
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