North American Charging System (NACS)
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Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: On November 20, QLGN, which is Strategically Invested in and Controlled by FFAI, will Begin Using its New Name, AIxCrypto, and will be Traded Under AIXC
Globenewswire· 2025-11-17 00:30
Core Insights - Faraday Future Intelligent Electric Inc. (FF) is making significant progress in its business operations, particularly with the FX Super One vehicle and its strategic investments in QLGN, which will be rebranded as AIxCrypto [1][5][12] Group 1: Business Developments - FF signed a non-binding pre-order agreement for 100 units of the FX Super One with the California Hanlin Entrepreneurs Association, receiving a $10,000 non-refundable deposit, indicating strong demand from business leaders [3] - The first batch of complete FX Super One parts has departed from Shanghai and is expected to arrive in Long Beach by the end of November, marking the start of the pre-production trial-build phase [6] - FF and FX vehicles will adopt the North American Charging System (NACS), gaining access to over 28,000 Tesla Superchargers, enhancing infrastructure for future drivers [4][5] Group 2: Financial Performance - In Q3, FF reported a total loss of approximately $206 million, with a one-time impairment of about $138 million due to asset realignment, resulting in an operating loss of $68 million [7] - Despite the losses, FF achieved financing inflow greater than operating outflow for the sixth consecutive quarter, ending Q3 with the highest cash balance in nearly two years [8] Group 3: Strategic Initiatives - FF will officially deliver the FX Super One to its first global owner, Andrés Iniesta, on November 27, 2025, marking the launch of the EAI MPV era in the UAE market [9] - The company plans to participate in the Los Angeles Auto Show, showcasing its First Class EAI-MPV to the public [4][12] Group 4: Corporate Governance - FF is set to become the majority and controlling stockholder of QLGN, with an initial ownership of about 55%, which will enhance its governance and strategic capabilities [5] - The complexity of preparing consolidated financial statements for two public companies has increased, leading to a slight delay in the disclosure schedule [10]
Faraday Future Announces Adoption of North American Charging System (NACS), Providing Future FF and FX Super One Drivers Access to Tesla's Supercharger Network in North America, Japan and South Korea
Globenewswire· 2025-11-12 22:03
Core Insights - Faraday Future Intelligent Electric Inc. will enable its future vehicles, starting from 2026, to access Tesla's Supercharger network through the North American Charging System (NACS) port, providing users with access to over 28,000 Tesla Superchargers across multiple countries [2][5][6] Group 1: Vehicle Access and Charging Infrastructure - Future FF and FX battery electric vehicles (BEVs) will connect to more than 28,000 Tesla Superchargers, enhancing the overall charging infrastructure to over 45,000 fast chargers, thus improving charging convenience for users [3][5] - The integration of NACS will allow FF and FX users to utilize both Tesla's Supercharger network and other DC fast charging networks like ChargePoint and EVgo, facilitating easier charging during travel [3][5] Group 2: Vehicle Specifications and Performance - The FF 91 model features a powerful 180kW DC charging capability, an EPA-certified range of 381 miles, a 142kWh battery pack, and accelerates from 0-60 mph in just 2.27 seconds, showcasing its high-performance attributes [4] - The FX Super One is set to roll off in the U.S. by the end of the year and will be available in four editions, indicating the company's commitment to expanding its vehicle lineup [6] Group 3: Strategic Vision and Market Positioning - Faraday Future aims to disrupt the automotive industry by creating a user-centric, technology-first driving experience, with the FF 91 representing its vision for luxury and innovation [8] - The company plans to introduce mass production models under the FX strategy, targeting a broader market with more affordable electric vehicle options [8]