Faraday Future Intelligent Electric Inc. (“Faraday Future”, “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Global Co-CEO of FF.
Co-CEO Weekly Report No. 18, also the 4th Monthly Report.
“Let’s start with the major progress and announcement I teased last week: We plan to have the Middle East final launch for FX Super One at the end of October and kick off sales and first deliveries in November.
Progress on EAI EV Flywheel This Week:
On S1 User Ecosystem, FX Super One has officially rolled out a series of co-creation and sales events planned to be held across eight states. This week we wrapped up the Boston stop—packed crowd, great energy, and fantastic feedback.
At Burning Man in Nevada, even though I couldn’t make it due to work conflicts, our team brought a special Burning Man edition Super One that turned heads everywhere. We also hosted the first “Go-Global Stand-Up Comedy Festival” and FX Super One Showcase at FF headquarters. Joe Wong, one of the top Chinese stand-up comedians, was on stage and kept the audience laughing throughout the show. The Super One demo and co-creation activities that followed were equally well received.
Moving on to S5 Capital and Finance, this week, Jerry and I executed the first tranche of our 10b5-1 stock purchases—another clear step in living our “Stockholders First” principle. Pursuant to our plans, I will be completing the rest of my planned purchases within the next three weeks, and Jerry is set for his next round about a month from now.
Out of the $105 million commitment we announced in July, by August 22 we had received about $60.6 million. The initial $37.6 million was disclosed in Friday’s Form D filing. Quick clarification here: on Form D you’ll see the phrase “Total Amount Sold.” That’s just standard legal wording. What it really means is that the company raised about $37.6 million by issuing convertible notes to investors—it doesn’t mean investors were “selling shares.” I just want to make sure no one misreads it.
On S6 Middle East, as mentioned earlier, the Middle East launch of FX Super One will take place at the end of October, with first deliveries expected as early as November. This will be a historic milestone for our Middle East operations, and for FF and FX as a whole. It carries big strategic meaning on several fronts:
- Users are shareholders, and shareholders are users. Our vision in the Middle East is to turn long-term investors into future car owners, with a core belief that user value and investor value are fundamentally the same.
- Getting FX into the market through launch, sales, and deliveries will showcase our core value more directly and could help bring in strategic investors.
- The Middle East is a premium market with a large base of high-net-worth individuals—perfect for a first-class EAI-MPV like Super One.
- The Middle East’s strong international orientation and supportive policies for overseas business give it critical strategic importance for FF and FX in building a globalized supply chain and achieving long-term cost efficiency. It could serve as an anchor of our Global Bridge Strategy.
- As both a global hub for energy and capital, and a leader in crypto, the Middle East could help us accelerate the Dual-Flywheel Model of “EAI + Crypto”, driving faster growth.
Currently, with strong support from the local government, Phase I construction of our facility and operations center in Ras Al Khaimah is nearing completion.
In the Middle East, we are building an international team, recruiting talent from China, the U.S., the UAE, Europe, India, and more. About 100 positions are expected to open this year. We welcome interested candidates to apply.
We are also in discussions with top dealer groups in Dubai, Abu Dhabi, and Ras Al Khaimah. Together, we are looking to build the FX Par network in the region. More partners are welcome to join our family and drive transformation across the global AI EV industry together.
On S7, system build up:
This week, we were happy to welcome George Li onboard. He is a veteran automotive supply chain expert and is joining as Head of FF and FX Global Supply Chain. He also serves as FF China Chief Strategic Cooperation & Business Growth Officer (CSGO). His extensive experience in supply chain management—especially at Li Auto and NIO—will help further strengthen our supply chain ecosystem in both China and worldwide. Now let’s look at our progress in the Crypto flywheel this week.
C10 Treasury completed its first $5 million crypto coin purchase. This marks the official execution of our treasury product. The purchase strictly followed the “80% passive + 20% active” allocation strategy. Details are shown in the chart and will be published on the C10 Index website.
The passive allocation follows the C10 Index to capture industry beta returns. The active allocation is selected through our proprietary SMART (Strategic, Metrics-Driven, Adaptive, Risk-Controlled, Transparent) quantitative scoring system, focusing on leading projects in ecosystem infrastructure and innovation tracks, with strict risk-control measures. About 40% of the active portion is allocated to global centralized exchange leader BN, balancing stability and growth.
At the same time, we have started implementing a staking strategy, which could potentially deliver 3–5% annualized staking returns. Next, we will continue to deploy the remaining funds from the proposed initial $30 million in phases, improve monitoring systems, and ensure operations remain transparent and well-controlled.
Finally, our issues, reflections, and solutions over the week.
Although we filed our Q2 earnings report within compliance deadlines, it still fell short of our original plans and public expectations. This was due to both internal and external challenges including inefficiencies in data preparation and alignment. Moving forward, we must further strengthen our financial systems while improving coordination with auditors to quickly address weak points.
There were many updates this week. So, in the interest of time, I won’t cover next week’s plan here—we’ll share it in detail next week. Thank you all.”
SOURCE: Faraday Future
