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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):
December 4, 2023
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 $11.50 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 7.01 Regulation FD Disclosure
On December 4, 2023, Faraday Future Intelligent
Electric Inc. (the “Company”) issued a press release announcing a collaboration with the Abu Dhabi Investment Office (ADIO)
through which the Company plans to bring its generative artificial intelligence and advanced electric vehicles to Abu Dhabi, the United
Arab Emirates capital’s Smart and Autonomous Vehicles Industry (SAVI) cluster.
The information contained in this Current Report
on Form 8-K, including Exhibit 99.1, 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: December 4, 2023 |
By: |
/s/ Jonathan Maroko |
|
Name: |
Jonathan Maroko |
|
Title: |
Interim Chief Financial Officer |
2
Exhibit 99.1
Media
release
ADIO
and Faraday Future unleash generative AI and advanced EVs for Abu Dhabi’s SAVI cluster
| ● | Faraday
Future exploring establishing a regional HQ and manufacturing and advanced R&D facilities
in Abu Dhabi |
| | |
| ● | Agreement
signed during COP28 |
Abu
Dhabi, UAE – 4 December 2023: The Abu Dhabi Investment Office (ADIO) and the California-based global shared intelligent electric
mobility ecosystem company Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”),
today announced that FF is set to bring its generative AI and advanced intelligent electric vehicle capabilities to the UAE capital’s
Smart and Autonomous Vehicles Industry (SAVI) cluster. Faraday Future, which recently launched its limited-edition FF 91 2.0 Futurist
aiFalcon model in the Middle East, joins a growing cohort of companies committing to establishing a presence in the SAVI cluster.
Headquartered in Los Angeles, FF designs and engineers
next-generation intelligent electric connected vehicles focused on Ultimate Intelligent TechLuxury. The company has developed a generative
AI product stack for use in its cars. ADIO will work with FF as it looks to establish a regional headquarters, manufacturing facility
and an advanced research and development (R&D) centre focusing on next-generation electric vehicle and AI technology in Abu Dhabi
and exploring UAE capital markets activities. ADIO and FF will also deploy resources to develop leading regulatory frameworks that enhance
the creation of advanced smart autonomous vehicle solutions and applications.
Centred in Masdar City, Abu Dhabi’s fully
integrated SAVI cluster provides state-of-the-art facilities, services, and regulatory enablement to support the design, testing, and
manufacturing of applications for transportation and mobility on air, land and sea, as well as to service other sectors, such as logistics.
Badr Al-Olama, Director General of ADIO,
said: “SAVI stands at the forefront of innovation across air, land and sea mobility. The cluster is attracting exceptional companies
with both the ambition and the ability to disrupt and reshape the future of transportation. FF will deepen Abu Dhabi’s EV industry
while bringing new expertise in generative AI and shared intelligent mobility.”
FF’s Abu Dhabi R&D centre will look
to accelerate the pace of AI and electric vehicle innovation for mobility applications. It will also explore collaborations and technology
transfer initiatives with universities across Abu Dhabi.
“This collaboration with ADIO to support SAVI’s efforts
helps to explore both joint brand product and partnership opportunities in the UAE and will build on the company’s momentum,”
said Matthias Aydt, Global CEO of FF. “In addition to our recently announced plans to enter the UAE market as early as 2024
with FF 91 2.0 Futurist aiFalcon model, this agreement is a strong first step toward realising that goal. We believe this development
further validates FF’s global strategy plans and our products and technology, given that the UAE is one of the top luxury markets in the
global automotive industry.”
“We are very excited to be able to support this collaboration.
We really appreciate FF’s strategic partners and FF Middle East board members, Sheikh Abdulla Al Qassimi, CEO of Master Investment
Group and Mr. Ahmed Al Otaiba, Chairman of Siraj Holding LLC, for their great contributions. We look forward to a successful long-term
partnership and bringing unique value to support SAVI’s vision and development,” said Jerry Wang, President of FF Global
Partners LLC.
Abu Dhabi’s SAVI cluster builds on the strength
of Abu Dhabi’s industrial base and supports the UAE’s target of half of all cars on the roads being electric by 2050. SAVI
leverages Abu Dhabi’s unparalleled access to established air corridors, road infrastructure and global seaports. The cluster houses
academia, test zones, R&D labs, testing and certification facilities, large scale workshops, hangars and manufacturing facilities,
connected through Abu Dhabi’s global logistics network.
Faraday Future’s limited-edition model FF
91 2.0 Futurist aiFalcon has been tailored to the Middle East market, with delivery targeted in 2024. It features 1-on-1 bespoke private
AI, Super AP 5G connectivity, racing training, and premium identity features.
About ADIO
The Abu Dhabi Investment Office (ADIO) enables
local, regional and international investors to thrive and grow in the UAE capital through its close collaboration with government partners,
sovereign investors, and national champions. ADIO is Abu Dhabi’s premier platform that empowers the private sector to grow, partner and
compete globally by providing access to growth opportunities, strategic partnerships and new markets across key sectors that range from
real estate and infrastructure, to industries and agribusiness, enhancing the nation’s investment in talent, innovation and sustainability.
With a growing network of global offices, investors
can contact ADIO by visiting its head office in Abu Dhabi or international offices located in Beijing, Frankfurt, London, New York, Paris,
San Francisco, Seoul, and Tel Aviv.
Visit https://www.investinabudhabi.gov.ae/ for
more information.
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.
FOLLOW FARADAY FUTURE
https://www.ff.com/
https://www.ff.com/us/mobile-app/
https://twitter.com/FaradayFuture
https://www.facebook.com/faradayfuture/
https://www.instagram.com/faradayfuture/
www.linkedin.com/company/faradayfuture/
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 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: the Company’s ability to continue as a going concern and improve its liquidity
and financial position; the Company’s ability to remediate its material weaknesses in internal control over financial reporting;
risks related to the restatement of the Company’s 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; increased operating expenses; incorrect assumptions and analyses developed by management; the market performance of the Company’s
common stock; the Company ability to comply with Nasdaq listing requirements; 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 success
of other competing manufacturers; the performance and security of the Company’s vehicles; 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; insurance coverage; the outcome of the Securities and Exchange
Commission (“SEC”) investigation relating to the matters that were the subject of the Special Committee investigation; 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 manufacturers; the Company’s ability to develop and protect its technologies; the Company’s ability
to protect against cybersecurity risks; general economic and market conditions impacting demand for the Company’s products; risks
related to the Company’s operations in China; risks related to the Company’s stockholders who own a significant amount of
the Company’s common stock; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their
expected results; the ability of the Company to attract and retain directors and employees; any adverse developments in existing legal
proceedings or the initiation of new legal proceedings; and volatility of the Company’s stock price. The foregoing list of factors
is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk
Factors” section of the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2022 and Quarterly Report on
Form 10-Q for the quarter ended September 30, 2023, as well as in other documents filed by the Company from time to time with the SEC.
These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially
from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise
any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
CONTACTS
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
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