Faraday Future Announces Appointment of Matthias Aydt as Global Chief Executive Officer
22 September 2023 - 6:30AM
Business Wire
- Current Global CEO, Xuefeng Chen (XF), will
remain as CEO of FF China and will assume a new additional role as
EVP of Global Industrialization.
Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE)
(“Faraday Future”, “FF” or “Company”), a California-based global
shared intelligent electric mobility ecosystem company, today
announced the Company’s Board of Directors has appointed long term
FF executive Matthias Aydt, Global CEO of Faraday Future, effective
September 29, 2023. Also effective September 29, 2023, current
Global CEO Xuefeng Chen (XF) will resume his prior position as FF
China CEO, based in China and will take a new role as FF’s EVP of
Global Industrialization.
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Faraday Future Announces Appointment of
Matthias Aydt as Global Chief Executive Officer (Photo: Business
Wire)
Mr. Aydt will focus his efforts on boosting FF 91 2.0 Futurist
Alliance production and deliveries. Mr. Chen will shift his
attention to the launch of the FF 91 2.0 Futurist Alliance in China
and focus on the next stage of developments, including the dual
home markets of China and the United States. Mr. Chen will also
focus on the implementation of the Company’s China business
development plans including establishing FF China joint venture,
accessing China automotive market, integrating the China supply
chain, and ongoing costs reductions.
Mr. Aydt has been at FF for over seven years and was most
recently in charge of Product Execution and was the Head of Product
Definition & Mobility Ecosystems and Business Development in a
previous role. Prior to joining FF, Mr. Aydt spent a number of
years with automotive companies and OEM suppliers, leading teams
within Project Management and Vehicle Engineering. Mr. Aydt has
over 40 years of experience at luxury OEMs across manufacturing,
technology and operations, including developing and growing
multinational organizations, establishing cross-functional working
environments, design and development processes, program-management
processes, and simultaneous engineering processes. Mr. Aydt has
also received over 15 registered patents during his career and is
deeply committed to the Company, its employees, users, and
investors in fulfilling the vision for a sustainable transportation
future.
“FF is currently focusing on ramping up FF91 production and
beginning to generate revenue, improvement of product and
technology capabilities and the development of next-generation
products including AI developments,” said Mr. Aydt. “I’m very
excited for the new Global CEO role, and I’m confident that it will
allow me to highlight my experience in product technology,
research, and development for luxury car brands at global,
world-class car companies and will provide tremendous value and
leadership to FF.”
Mr. Chen was appointed Global CEO for his experience in
industrialization, specially manufacturing and supply chain
management. The Company believes that Mr. Chen accomplished this
mission in an outstanding manner and contributed to the Company’s
efforts in reaching key milestones that include the start of
production and deliveries. The Company thanks Mr. Chen for his
valuable contributions as Global CEO, and launching the FF 91 2.0
Futurist Alliance in the U.S. In addition, the Company recognizes
his contributions as a member of the Board and his continued
dedication as he moves on to his new roles.
Users can preorder an FF 91 vehicle via the FF Intelligent App
or through the Company’s website at: (English):
https://www.ff.com/us/preorder/ or (Chinese):
https://www.ff.com/cn/preorder/
Download the new FF Intelligent App:
http://appdownload.ff.com
ABOUT FARADAY FUTURE
FF is the pioneer of the Ultimate Intelligent TechLuxury ultra
spire market in the intelligent EV era, and a disruptor of the
traditional ultra-luxury car industry. FF is not just an EV
company, but also a software-driven company of intelligent internet
AI product.
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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, among others: the Company’s ability to
continue as a going concern and improve its liquidity and financial
position; 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; potential litigation involving
the Company; the Company’s ability to satisfy the conditions
precedent 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; general economic and market conditions
impacting demand for the Company’s products; potential cost,
headcount and salary reduction actions may not be sufficient or may
not achieve their expected results; 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/A filed with the Securities and Exchange
Commission (“SEC”) on August 21, 2023, 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20230921456004/en/
Investors (English): ir@faradayfuture.com Investors (Chinese):
cn-ir@faradayfuture.com Media: john.schilling@ff.com
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