Business wire
- The Company will notify Nasdaq about the exact date and provide an official update once confirmed. FF aims to inform shareholders as soon as possible to ensure global awareness of this important update.
- FF is making significant progress in developing its All-AI Mobility Ecosystem, including Personalized AI and Bespoke AI initiatives. The AI-driven in-vehicle interaction system, built on large-model architecture, is in the final stages of R&D and could be integrated into the FF 91 2.0 in the near future and upcoming FX models.
- FF plans to expand its AI R&D efforts and input, recruiting AI talents.
Faraday Future to Change its Ticker Symbol to “FFAI” on March 10, and Host FF Open AI Day on March 17
Investors (English): ir@faradayfuture.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future,” “FF” or the “Company”) announced today that it plans to change its Nasdaq ticker symbol to “FFAI” on March 10, 2025 and host an "FF Open AI Day" on March 17. The FF Open AI Day will showcase the Company’s current and future AI strategy and also invite AI industry partners to jointly explore topics such as open-source ecosystems and AI applications in vertical sectors like mobility.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250202400512/en/
Faraday Future Plans to Change its Ticker Symbol to “FFAI” on March 10, and Host FF Open AI Day on March 17 (Graphic: Business Wire)
This ticker symbol change is not only a brand identity upgrade but also a reaffirmation of the Company’s unwavering commitment to its core AI strategy and long-term development goals. Since launching its Faraday X (FX) strategy, the Company has been working to implement a full-scale AI transformation. By advancing cross-domain integration of end-to-end computing, algorithm, and data, it is working to comprehensively improve the intelligent cabin, autonomous driving, and user interactions, while advancing the AI transformation in its vehicles.
Advancing the All-AI Strategy to Unleash the Core Value of FF’s AI DNA
Because of its dual-market and dual-brand strategy, FF holds a unique advantage in attracting AI talent georgraphically and integrating AI technology and building a strong foundation in AI technology in recent years.
As AI technology continues to evolve rapidly in both open-source ecosystems and vertical applications, FF is making significant strides in realizing its All-AI Mobility Ecosystem, Personalized AI, and Bespoke AI initiatives. The Company has elevated AI to a cornerstone strategy within its three core strategic pillars. We plan to significantly expand AI R&D efforts and input, launching recruitment of AI talents, especially those specialized in large-model development and algorithm training programs. FF plans to post job openings related to this AI build-up initiative soon. We welcome talented individuals to visit FF.com for more details.
Next Steps for FF’s AI Business:
- Advancing end-to-end large-model autonomous driving development within an open-source framework to accelerate the evolution of intelligent driving.
- Accelerating the development and launch of FF AI OS, an advanced AI system designed to enhance the intelligent cabin and user interaction experience through AI agents.
- Advancing the integration of AI into its cutting-edge mechanical platforms, including Magic All-In-One and Hyper Multi-Vectoring, seamlessly blending AI technology with traditional mechanical system
“Changing our ticker symbol to ‘FFAI’ is more than just a branding upgrade, it’s an explicit expression of our strategic directions as a company and our focus on the future,” said Matthias Aydt, Global CEO of Faraday Future. “AI is redefining future mobility, and Faraday Future is at the center of this transformation. We believe that with AI technology, our products and services will create an unparalleled intelligent experience for our users by giving them the tools and technologies they can use in their everyday lives.”
More details about our AI strategy will be announced at the FF Open AI Day.
ABOUT FARADAY FUTURE
Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The new FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF91, targeting a broader market with middle-to-low price range offerings. For more information, please visit https://www.ff.com/us/
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 a ticker symbol change, AI development, AI expansion, AI job postings, and AI software development, 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 to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure agreements with OEMs that are necessary to execute on the FX strategy; the Company may ultimately determine to not change its ticker symbol; the Company’s ability to fund AI development, expansion, additional jobs and/or software development; 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 warranty 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.
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