UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-39395 Faraday Future Intelligent Electric Inc. (Exact name of registrant as specified in its charter) (State or oth ...

Faraday Future Intelligent Electric Inc. (FFIE) Q4 2024 Earnings Conference Call March 27, 2025 08:00 PM ET Company Participants Operator - Conference OperatorBrad Cohen - External Investor Relations ModeratorJun Sun - Head of Investor RelationsMatthias Eid - Global CEOMax Ma - Global CEO of FaradayXCody Mecca - CFOAnshul Rai - Tech Lead, Intelligence, Autonomous Driving and Internet DepartmentJerry Wang - President Operator Greetings. Welcome to Faraday Future Intelligent Electric, Inc. Fourth Quarter 2024 ...

Financial Performance - Net loss from operations in Q4 2024 was $30.3 million, a 55.3% improvement from $67.8 million in Q4 2023[6] - Full year 2024 net loss was $355.8 million, with 58.0% driven by non-operating losses and non-cash expenses[9] - Operating cash outflow decreased by 51.3% to $18.4 million in Q4 2024, compared to $37.8 million in Q4 2023[6] - Operating cash outflow for the full year 2024 was $70.2 million, a 75% reduction from $278.2 million in 2023[9] - The company raised a total of $76.7 million in 2024, surpassing operating and investing cash outflows[15] Product Development - The FX Super One is expected to be unveiled in June 2025, with paid reservations starting thereafter[5] - Two prototype mules for the FX brand were shipped to the U.S. in November 2024, marking progress in product development[5] - The company plans to launch the first FX vehicle by the end of 2025 and start collecting refundable paid reservations in Q2 2025[31] - FF has established Future AIHER, a wholly owned subsidiary focused on developing AI-driven range extender systems for Extended Range Electric Vehicles (EREVs) [43] - The completion of FF's first-generation smart cabin, powered by AI Agent technology, is expected by the end of 2025 for integration into the FF 91 and potential FX series models [44] - FF is conducting preliminary research into end-to-end autonomous driving using large-scale AI models and defining the technology roadmap for the FX series and next-generation models [45] Cost Management - Significant cost reductions were achieved, including a 75% year-over-year reduction in general and administrative expenses[3] - The company is focused on optimizing funding costs to secure necessary capital without excessive dilution and maintaining Nasdaq compliance [44] Strategic Goals - 2025 is projected to be a pivotal year for FF, emphasizing technological innovation and financial discipline to enhance stockholder value [46] - FF aims to introduce mass production models under the new FX strategy, targeting a broader market with middle-to-low price range offerings [48] - FF's growth strategy includes the development and commercialization of EREVs and integrating third-party range extender technology into FX vehicles [49] Risks and Challenges - The company faces significant risks, including the ability to secure necessary funding and agreements for vehicle production and homologation [49] Investor Relations - The company is committed to enhancing investor interaction and stockholder value while navigating various operational and market challenges [49] - FF's flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance in the electric vehicle market [48]

Electric vehicle company Faraday Future Intelligent Electric Inc FFIE was one of the many companies that presented or showed off new products, concepts and company growth initiatives at the 2025 CES conference.An electric vehicle media outlet is skeptical of the company's latest plan for growth.What Happened: When it comes to Faraday Future, the company has focused on the premium electric vehicles sector with the FF 91 having a cost of more than $300,000.The company now plans to grow with its new Faraday X ...

Company Developments - The company delivered the first FF 91 2.0 Futurist Alliance in 2023 and launched its second brand, Faraday X, focused on affordable electric vehicles priced between $20,000 and $50,000[332][333]. - The company plans to produce and deliver the FF 81, a premium mass-market electric vehicle, subject to future financing, to compete against models like the Tesla Model S and BMW 5-series[322]. - The company aims to develop a Smart Last Mile Delivery vehicle to target high-growth delivery opportunities in Europe, China, and the U.S., leveraging its modular Variable Platform Architecture[324]. - The company has updated its corporate strategy to include a China-U.S. Automotive Bridge Strategy, aiming to establish a second mass-market brand in collaboration with China-based OEMs[325]. - The company is transitioning its production capabilities to include both luxury and more affordable electric vehicles, aligning with broader market demand[398]. Financial Performance - Total revenue decreased by $0.5 million (98%) to $9,000 for the three months ended September 30, 2024, compared to $551,000 in the same period in 2023[372]. - Cost of revenues increased by $5.3 million (33%) to $21.5 million for the three months ended September 30, 2024, compared to $16.1 million in 2023[375]. - Research and development expenses decreased by $16.4 million (76%) to $5.2 million for the three months ended September 30, 2024, compared to $21.6 million in 2023[377]. - Sales and marketing expenses decreased by $2.7 million (51%) to $2.6 million for the three months ended September 30, 2024, compared to $5.3 million in 2023[379]. - General and administrative expenses decreased by $15.7 million (66%) to $8.3 million for the three months ended September 30, 2024, compared to $24.0 million in 2023[381]. - The company reported an accumulated deficit of $4,193.1 million and an unrestricted cash balance of $7.3 million as of September 30, 2024[425]. - The company reported net cash used in operating activities of $51.8 million for the nine months ended September 30, 2024, an improvement of $188.6 million compared to $240.4 million for the same period in 2023[443]. - Total revenue decreased by $0.2 million to $0.3 million for the nine months ended September 30, 2024, a decline of 45% compared to the same period in 2023, driven by reduced automotive sales revenue[396]. - Cost of revenues increased by $40.4 million to $63.1 million for the nine months ended September 30, 2024, a rise of 177% compared to the same period in 2023, primarily due to higher depreciation expenses[397]. Capital and Funding - The company entered into a Junior Securities Purchase Agreement for $30.0 million, consisting of $22.5 million in cash and $7.5 million converted from a prior loan, with a 10% interest rate and warrants for 5.7 million shares[334]. - The company entered into a co-investment agreement to establish a regional headquarters in Ras Al Khaimah, UAE, with operations expected to begin by late 2025 or early 2026[342]. - The company has substantial doubt about its ability to continue as a going concern for the next year due to recurring losses and cash outflows from operations[422]. - The company projects substantial additional funds will be required to continue operations and support production of the FF 91, with potential bankruptcy if additional capital is not secured[432]. - The company is exploring various funding and financing alternatives to support ongoing operations and production ramp-up, facing delays in securing additional funding commitments[433]. Legal and Compliance Issues - The company is currently involved in various legal proceedings that could have a material adverse effect on its business and financial condition[478]. - The company identified material weaknesses in internal control over financial reporting, which could lead to material misstatements in financial statements[458]. - The company lacks sufficient professionals with appropriate accounting knowledge, impacting its ability to analyze and disclose accounting matters accurately[459]. - The company has engaged external consulting resources to assist in improving the internal control environment and compliance activities[468]. Management and Strategy - The company appointed Koti Meka as Chief Financial Officer and Aaron Ma as Acting Head of EV R&D to advance its dual-brand strategy[343]. - The company has implemented new accounting policies and procedures to improve communication and accountability across departments[467]. - The remediation plan for internal control weaknesses is expected to extend beyond December 31, 2024, with significant costs anticipated[474]. - The company has adopted an Insider Investment Reporting Policy to enhance internal reporting of related party transactions[467]. Operational Challenges - The company faces substantial doubt about its ability to continue as a going concern, relying on various funding mechanisms to support ongoing operations[348]. - The company sold a total of five vehicles and leased nine vehicles through September 30, 2024, indicating a need for substantial additional capital to develop products and fund operations[348]. - The company began production of the FF 91 Futurist in March 2023 and started deliveries in August 2023, but did not sell any vehicles and leased out two vehicles during the three months ended September 30, 2024[350].

Financial Data and Key Metrics Changes - Operating expenses decreased by 92.6% to $3.8 million compared to $50.9 million in the prior year's quarter, reflecting ongoing cost control initiatives and a nonrecurring gain of $14.9 million from the settlement of previously accrued R&D costs [30] - Loss from operations improved to $25.2 million compared to a loss of $66.4 million in the prior year quarter [31] - Total assets as of September 30, 2024, were $449 million, total liabilities were $292.3 million, and cash at the end of the quarter was $7.3 million [32] Business Line Data and Key Metrics Changes - Two FF91 2.0 vehicles were delivered during the third quarter, bringing total deliveries to 14 vehicles to date [14] - Manufacturing improvements included bringing certain vehicle body and interior component production in-house, reducing interior costs by half [15] Market Data and Key Metrics Changes - The U.S. EV penetration rate remains below 20%, but range extender AIEVs have shown strong adoption in other markets, indicating a potential opportunity for the planned FX product lineup [20] Company Strategy and Development Direction - The company is focused on transforming from a project-driven to an operation-driven organization with an emphasis on cost optimization and operational efficiency [9] - The launch of the FX brand targets mass market segments, with two initial models planned in the $20,000 to $50,000 range [19] - The company aims to strengthen core operations, advance the dual brand strategy, and pursue strategic partnerships to support growth objectives [24] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of achieving profitability and becoming self-funding in the shortest possible time [35] - The dual brand strategy is expected to leverage high-value traditional FF brand with Chinese OEMs to gain economies of scale [36] Other Important Information - The company regained full Nasdaq listing requirements compliance and completed a reverse stock split [13] - A co-investment agreement was established with Master Investment Group to set up a regional headquarters in Ras Al Khaimah [22] Q&A Session Summary - No specific questions or answers were documented in the provided content, indicating the end of the Q&A session without further inquiries [42]

Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) Fiscal Third Quarter 2024 Earnings Presentation November 6th, 2024 © 2024 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL Table of Contents 2 01. Company Overview 02. Business Update 03. The FF 91 2.0 Futurist 04. Faraday X 05. Financials 06. Imagery © 2024 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL Legal Disclaimers 3 Forward Looking Statements This presentation includes "forward looking statements" within the meaning of the safe harbor provisions of the ...

Investment and Development - Faraday Future has invested $3.0 billion to develop its EV platform and AI technology[3] - The company aims for an annual production capacity of 10,000 vehicles[3] - Faraday Future launched its second brand, Faraday X, targeting mass market segments with models priced between $20,000 and $50,000[8] - The company has entered preliminary agreements with four OEMs for the development of the Faraday X brand[8] - The company aims to empower users to co-create an AIEV (Artificial Intelligence Electric Vehicle) with an extreme cost-experience ratio, targeting growth in the untapped AIEV market[15] Financial Performance - The company reported a revenue of $21,453 thousand for the three months ended September 30, 2024, compared to $551 thousand for the same period in 2023, indicating a significant increase[24] - The gross profit for the three months ended September 30, 2024, was $(21,444) thousand, while for the same period in 2023, it was $(15,580) thousand, reflecting a worsening in gross profit margin[24] - Operating expenses for the three months ended September 30, 2024, totaled $50,867 thousand, compared to $56,618 thousand for the same period in 2023, showing a decrease in operating expenses[24] - The net loss for the three months ended September 30, 2024, was $(77,686) thousand, slightly improved from $(78,046) thousand in the same period of 2023[24] - Research and development expenses for the three months ended September 30, 2024, were $5,180 thousand, down from $21,593 thousand in the same period of 2023, indicating a reduction in R&D spending[24] Manufacturing and Deliveries - In Q3 2024, Faraday Future completed a $30 million financing round, resulting in net proceeds of approximately $28.5 million[7] - Two FF 91 2.0 vehicles were manufactured and delivered in Q3 2024, bringing total deliveries to 14 vehicles[7] - Manufacturing improvements have reduced interior costs by approximately 50% and improved inspection findings by 25% compared to the previous quarter[7] - The FF 91 2.0 Futurist features a tri-motor system with an EPA-rated range of 381 miles and 1,050 HP[10] Strategic Initiatives - A regional headquarters is planned in Ras Al Khaimah, with construction expected to commence by the end of 2024[9] - The company has established a user ecosystem with a focus on direct online sales and co-creation strategies, aiming to enhance customer engagement and conversion rates[14] - The company plans to launch two hit models in the first phase of its product rollout, targeting a price range of $20,000 to $50,000[13] Assets and Liabilities - The total current assets as of September 30, 2024, were $79,685 thousand, compared to $91,364 thousand as of December 31, 2023, indicating a decrease in current assets[20] - The total liabilities as of September 30, 2024, were $292,330 thousand, compared to $302,303 thousand as of December 31, 2023, showing a reduction in total liabilities[23] Leadership and Innovation - Faraday Future has strengthened its leadership team with key appointments to drive product innovation and market expansion[6]

New York, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Univest Securities, LLC (“Univest”), a member of FINRA and SIPC, and a full-service investment bank and securities broker-dealer firm based in New York, today announced the first closing of a convertible note offering (the “Offering”) of approximately $30 million for its client Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company. The Offering ...

Core Viewpoint - Faraday Future is increasing salaries and bonuses for its CEO and founder despite financial struggles and minimal vehicle sales [1][2][3] Group 1: Executive Compensation - CEO Matthias Aydt's salary will increase from $400,000 to $700,000, with additional bonuses totaling $1.2 million and stock grants worth over $4 million [1] - Founder Jia Yueting's salary will rise from $450,000 to $680,000, along with a $500,000 bonus and stock grants exceeding $4 million [1] - Both executives will initially receive pro-rated salaries of $550,000 and $612,000, respectively, and must invest at least $340,000 in company shares [3] Group 2: Financial Condition - The company ended Q2 2022 with only $793,000 in unrestricted cash and recently secured $22.5 million in financing through convertible notes and warrants [2] - Faraday Future has sold only 13 cars in its 10-year history and faces allegations of faking sales, leading to whistleblower lawsuits [2] - The company has laid off or furloughed hundreds of employees, with remaining staff on significantly reduced salaries [2] Group 3: Regulatory and Operational Challenges - Faraday Future is under investigation by the Securities and Exchange Commission, receiving two subpoenas in the first half of the year [3] - The company nearly faced eviction from its Los Angeles headquarters in February 2024 but reached an agreement with the property owner [2]