The FF 91 Futurist will be shown alongside Innovusion’s LiDAR suite for autonomous driving
New leadership and funding expected to begin production of FF 91 Futurist, targeted for March 2023
FF recently completed several product and technology upgrades to FF 91 Futurist highlighting 26 new major system and component upgrades made since 2021
LOS ANGELES–(BUSINESS WIRE)– Faraday Future (“FF” or the “Company”), a California-based global smart electric mobility platform company, today announced its return to CES 2023, taking place from January 5- 8, 2023 in Las Vegas, Nevada. FF 91 Futurist will be exhibiting at the Innovusion booth at CES, located in the Las Vegas Convention Center, West Hall (booth #6925). Recently, FF selected Innovusion’s Falcon LiDAR to power the FF 91’s autonomous driving system. The Falcon LiDAR aims to seamlessly integrate into the FF 91 Futurist to offer additional real-time 3D visibility, even in adverse weather conditions or the darkest nights, providing an immersive experience Safer and more reliable driving.
The Falcon LiDAR from Innovusion has been designed to give the FF 91 Futurist an unprecedented view of the surrounding environment away from the vehicle. With the Falcon’s long-distance capability and high angle accuracy, other vehicles in the FF 91’s path can be detected at up to 1,600 feet (more than five football fields), and even pedestrians and small road debris can be detected more than 650 feet away.
The Company expects to begin production of the salable FF 91 Futurist at the end of March 2023, rolling off the assembly line in early April with delivery before the end of April, subject to the timely availability of $150 to $170 million in additional funding and in time shareholder approval to raise authorized share. FF recently received a $30 million binding letter of intent from an existing FF investor. The agreement is subject to approval by the FF Board of Directors and terms including negotiation and execution of final documents.
“The Consumer Electronics Show is the ultimate setting for the world’s newest and most influential technology, so it was imperative that we bring back our technology-packed flagship FF 91 Futurist to this show,” said Xuefeng (“XF”) Chen. Global CEO of FF. “Innovusion’s long-range, high-resolution Falcon lidar is the only mass-produced product of its kind for consumer vehicles. With partners like Innovusion, the FF 91 Futurist will set new standards in driver assistance technologies that will help us bring new levels of safety, driver comfort and convenience to the market. luxury electric cars. And we’re excited to explore opportunities to integrate Innovusion’s new product lines into future car models as well.”
Faraday Future continues to make progress in testing and validating the FF 91 Futurist through its Product and Technology Generation 2.0 (PT Gen 2.0) program. The generational upgrade from PT Gen 1.0 to PT Gen 2.0 consists of significant upgrades to core systems and components from both the vehicle and the IAI area – Advanced Core, which stands for Internet, Autonomous Driving and Intelligence. PT Gen 2.0 has been achieved through upgrades of 26 major systems and components. With 13 major upgrades across the powertrain, battery, charging, chassis, and interior of the EV areas, plus 13 major upgrades from computing, sensing, connectivity, and user interaction, significant performance improvements for the FF 91 Futurist.
The company recently announced the completion of manufacturing phase 6, the completion of construction and installation of equipment in the vehicle assembly areas. This represents six of the seven landmarks (the SevenThe tenth A milestone is the SOP) set by FF in late 2021 to celebrate its manufacturing achievement towards the start of production of the FF 91 Futurist.
As the only next-generation Ultimate Intelligent TechLuxury EV product, the FF 91 Futurist delivers a unique and intelligent EV experience with extreme technology, the ultimate user experience. The FF 91 Futurist features industry-leading 1,050 horsepower, an EPA-certified range of 381 miles, 0-60 mph in 2.27 seconds, a unique rear smart internet system, and a revolutionary user experience designed to create a mobile And connected and smart, luxury online living space and user mobility ecosystem platform.
Users can pre-order FF 91 Futurist via the FF Intelligent App or through our website (in English): https://www.ff.com/us/preorder/ or (Chinese): https://www.ff.com/cn/preorder/
Download the new FF Intelligent app (in English): https://apps.apple.com/us/app/id1454187098 or https://play.google.com/store/apps/details?id=com.faradayfuture.online(Chinese): http://appdownload.ff.com
ABOUT FARADAY FUTURE
Faraday Future is a class-defining luxury electric vehicle company. The company has pioneered numerous innovations related to its product, technology, business model, and user ecosystem since its inception in 2014. Faraday Future aims to permanently improve the way people move by creating a forward-looking mobility ecosystem that integrates clean energy, artificial intelligence The Internet and new usage models. Faraday Future’s first flagship product is FF 91 Futurist.
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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,” “expects,” “expect,” “expect,” foresees”, “plans”, “intends”, “believes”, “seeks”, “may”, “will”, “should”, “future”, “suggests” and variations of these or similar words aim expressions (or negative versions of these words or expressions) to identify forward-looking statements. These forward-looking statements, which include statements regarding the expected start of production (SOP) and timing of delivery of the FF 91 Futurist vehicle, expected additional financing and the timing of its receipt and FF shareholder approval of an authorized stock increase and its timing, are not guarantees of future performance, conditions, or results, and involve a number of risks. Known and unknown, uncertainties, assumptions and other important factors, many of which are beyond the Company’s control, that could cause actual results or results to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect results or actual results include the Company’s ability to meet the foregoing conditions, closures on various types of financing previously disclosed by the Company and anticipated additional financings, the failure of any of which may result in the Company seeking protection under bankruptcy law ; the ability of the Company to amend the Certificate of Incorporation to permit the issuance of a sufficient number of authorized shares in respect of the Company’s existing and projected funds; the ability of the firm to agree definitive documents to effectuate governance changes with FF Top; the Company’s ability to continue to comply with the public filing requirements of the Securities Act of 1934, as amended, and the requirements for listing on the Nasdaq (“NASDAQ”) and to continue to list on the NASDAQ; the outcome of the SEC’s investigation regarding matters that were the subject of the Special Committee’s investigation and other lawsuits involving the Company; the ability of the Company to implement its plans to develop and market its vehicles and the timing of such development programmes; the company’s estimates of the size of its vehicle markets and the cost of bringing it to market; rate and degree of market acceptance of company cars; the success of other competing manufacturers; the performance and security of company vehicles; potential litigation in which the Company may be involved; the outcome of future financing efforts and general economic and market conditions affecting demand for the Company’s products; Recent cost, headcount and salary cut measures may not be sufficient or may not bring their expected results; and the company’s ability to attract and retain managers and employees. The above list of factors is not exhaustive. You should carefully consider the foregoing factors and other risks and uncertainties described in the “Risk Factors” section of the Company’s registration statement on Form S-1 filed on December 23, 2022 and 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 place undue reliance on forward-looking statements, and the Company undertakes no 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.
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