LOS ANGELES, May 27, 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 shared a weekly business update from YT Jia, Founder and Co-CEO of FF.
“Now we’re at the CEO Weekly Update #004. Each weekly update is more than just a report, it’s a moment of self-reflection. The act of writing things down forces us to beware of problem-solving and reminds us to stay outcome driven. It also motivates us to deliver good news, show real progress, and plan the week ahead with greater intention—and share all of it with you. Now for this week’s progress. We have some good news.
Start with S1 User Ecosystem:
We have secured another binding deposit agreement, which includes a non-binding reservation and a non-refundable deposit for 600 units, from Los Angeles-based integrated auto service provider NEW PBB AUTO. The deal also brings FX’s total paid B2B deposits to 1,900 units. Following this progress, we are also expecting comprehensive cooperation spanning several key areas: co-creation ecosystem direct sales, after-sales services, user operations and services.
In addition to becoming a co-creation partner, NEW PBB AUTO is expected to serve as the first FX Par (Partner) in Los Angeles. FX Par is our offline user operations and service system, designed to work in tandem with our co-creation ecosystem online direct sales system, forming a closed-loop user acquisition and user operations model.
FX Par partners can enjoy multiple advantages: revenue sharing, asset-light operations, fast return cycles, and strong capital appreciation potential.
The FX Par system will also follow a zonal management. For example, the County of Los Angeles contains 88 cities, and Greater LA encompasses 184. NEW PBB AUTO will be responsible for offline operations and services in six cities within LA County, sharing various revenue and growth of that region.
Through the FX Par model, we are building a multi-state offline network for user operations and services. We welcome like-minded partners across California and in our seven Phase-1 focus states to join FX Par. As our “Dream Partners,” you will have the opportunity to co-create within and share the benefits of the U.S. AIEV mobility ecosystem. Reach out to us at: sales@ff.com.
FX Par inherits the explosive momentum and disruptive power of the original Le Par model that reshaped the market in China. We hope this proven model, reborn for the AIEV era, can thrive in the U.S.—delivering new energy and blue-ocean value that is co-created and shared with our FX Par partners.
Moving on to Government Relations under S7 Capability and System Build-Up:
We are happy to announce that California’s Speaker Emeritus Anthony Rendon has officially joined FF as a senior consultant. He will play an even more pivotal role in strengthening our government affairs capabilities—assisting the company in public sector engagement, policy incentives, tariff strategy, and more, thereby advancing the implementation of our Global Automotive Industry Bridge Strategy.
Going to S5 Finance and Capital Markets:
Our much-anticipated 10b5-1 executive stock purchase plans have passed all compliance reviews. The first group of executives — involving $560,000 for myself and $50,000 for Jerry Wang — have been approved.
Under SEC compliance rules, there will be a 90-day cooling-off period, after which our broker will automatically execute the stock purchases. You’ll see official legal documents from the company later this week.
Turning to S2 and S3: Product & Technology:
The FX Super One is moving swiftly beyond vehicle engineering and into procurement and production prep. Our team is now working daily with key partners — including several S Tier One suppliers.
S6 Middle East:
Last week marked a milestone in our “Third Pole” strategy: We held a handover ceremony in Ras Al Khaimah, UAE, for our regional factory and operations facility — a critical step forward. This facility will support the production of both FF and FX models, serving the broader GCC market with plans to eventually expand into Europe and North Africa.
Next up, challenges and reflections:
Looking back, one of our key gaps has been under-preparation in states outside California, largely due to earlier funding limitations. Now that we’ve entered the execution sprint for the FX strategy, we must pick up the pace and extend our market footprint from California to the seven key U.S. states.
This shift is essential, but it comes with real challenges and puts serious pressure on our relatively lean team. That said, some things can only be validated by doing — and we’re fully committed to pushing forward. We believe in execution, and we believe we will make it work. Looking ahead to next week’s focus, besides pushing forward the production prep of FX, let’s take a look at:
S5: Capital and finance:
We’ll be hosting our first Annual Stockholders’ Day this coming Saturday 5/31. We’ll unveil multiple updates and next-step plans, and more detailed plans for the FX Super One’s official launch. Attendees will have the opportunity to test ride several FX prototype mule vehicles and contribute directly to our co-creation process. If you haven’t registered yet — we welcome you to join us!
S2–S3: Product & Technology:
Next week, we’ll be welcoming major S Tier One suppliers from China for strategic discussions. We also hosted several supplier visits earlier this week. These frequent, high-level exchanges continue to prove our unique value as a cross-border bridge.
Finally, during next week’s Dragon Boat Festival holiday in China, we’ll be releasing our first Monthly Investor Update. Stay tuned — and see you next week.”