LOS ANGELES--(BUSINESS WIRE)--Dec 19, 2024-- Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”, “Faraday Future”, or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that its first Faraday X (FX) prototype mules will arrive in Los Angeles at the end of this month. The first two FX mules will begin their product development and testing in the U.S. shortly thereafter at FF’s manufacturing facility in Hanford, CA, with a stop in Las Vegas, NV from January 5-7, which coincides with the Consumer Electronics Show (CES). While in Las Vegas, the Company will provide updates on the progress of the FX strategy. The first prototype mules’ delivery and shipping route has taken them from FF’s Headquarters in Beijing to Los Angeles. The FX brand is accelerating its efforts to deliver "twice the performance at half the price" AIEV products to U.S. consumers and is advancing toward the goal of delivering performance and technology capable EV’s at an affordable price point. 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. 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 FX and the timing for public display of prototype mules, product development and testing, and accelerating development efforts, 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: potential unforeseen delays regarding the customs clearing process for the prototype mules; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure additional agreements with OEMs that are necessary to execute on the FX strategy; 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. View source version on businesswire.com : https://www.businesswire.com/news/home/20241219985538/en/ CONTACT: Investors (English):ir@faradayfuture.com Investors (Chinese):cn-ir@faradayfuture.com Media:john.schilling@ff.com KEYWORD: CALIFORNIA NEVADA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE VEHICLE TECHNOLOGY EV/ELECTRIC VEHICLES LUXURY ALTERNATIVE VEHICLES/FUELS TRANSPORTATION TECHNOLOGY AUTOMOTIVE TRAVEL ARTIFICIAL INTELLIGENCE RETAIL AUTOMOTIVE MANUFACTURING MANUFACTURING SOURCE: Faraday Future Intelligent Electric Inc. Copyright Business Wire 2024. PUB: 12/19/2024 04:30 PM/DISC: 12/19/2024 04:28 PM http://www.businesswire.com/news/home/20241219985538/en Copyright Business Wire 2024.Carrier Board of Directors Announces an 18 Percent Increase in Quarterly Dividend to $0.225 per Share
Flux Power Receives Non-Compliance Letter from NasdaqHENDERSON, Nev. (AP) — Ashlon Jackson scored a career-high 30 points and No. 14 Duke defeated No. 10 Kansas State, 73-62 on Monday, in the semifinals of the Ball Dawgs Classic. The Blue Devils (6-1) overcame an early 11-point deficit behind Jackon’s shooting hand to advance to Wednesday’s championship game against the winner of the game between No. 9 Oklahoma and DePaul.None
BRASILIA, Brazil (AP) — Supermarket giant Carrefour’s support for French farmers’ protests against a trade agreement between the European Union and the South American bloc Mercosur has sparked a strong reaction in Brazil, including a refusal to supply beef to Carrefour stores in Brazil. Carrefour CEO Alexandre Bompard announced in social media posts last week that the French company would stop buying beef from all Mercosur countries, which also include Argentina, Paraguay and Uruguay. Bompard wrote that he agrees with French producers' arguments that Mercosur beef is an unfair competitor due to lower production costs resulting from fewer environmental and sanitary requirements. The executive encouraged other retailers to follow suit. Brazil's Ministry of Agriculture called Bompard's move protectionist, saying it was made “without any technical criteria.” The decision also angered Brazil's meatpackers. Though France makes up just a tiny sliver of Brazil’s beef exports, meatpackers worried that Carrefour’s decision would hurt its reputation in other markets. Beef giants JBS and Marfrig halted supplies last Friday to Carrefour's extensive supermarket chain in Brazil, including the food warehouse giant Atacadao. Both companies refused to comment on the boycott to The Associated Press, but Minister of Agriculture Carlos Fávaro confirmed it. “We support the reaction of the meatpackers. If Brazil ́s beef isn’t good enough for Carrefour’s shelves in France, it isn’t good enough for Carrefour’s shelves in Brazil either,” Faváro told Folha de S.Paulo newspaper on Monday. Carrefour Group in Brazil acknowledged the boycott in a statement, though it said there's not yet a shortage of beef in stores. It said it has “esteem and confidence in the Brazilian agricultural sector, with which it maintains a solid relationship and partnership.” “Unfortunately, the decision to suspend the meat supply has an impact on customers, especially those who rely on the company to supply their homes with quality and responsible products,” the statement said. “It is in constant dialogue in search of solutions that will make it possible to resume the supply of meat to its stores as quickly as possible, respecting the commitments it has to its more than 130,000 Brazilian employees and millions of Brazilian customers countrywide.” The backdrop for the conflict is the EU-Mercosur trade deal , which would increase agricultural imports to EU countries from South America. French farmers fear it will affect their livelihoods. An initial agreement was reached in 2019, but negotiations have faltered since then due to opposition that also includes some European governments. Brazil’s agribusiness sector also fears that the pending European Union Deforestation Regulation will outlaw the sale of forest-derived products within the EU’s 27-nation bloc if companies can’t prove their goods are not linked to deforestation. Its scope includes soy and cattle, Brazil’s top agricultural exports. Almost half of the country’s cattle is raised in the Amazon region, where 90% of deforested land since 1985 has turned into pasture, according to MapBiomas, a nonprofit network. The date of its implementation remains uncertain. ___ The Associated Press’ climate and environmental coverage receives financial support from multiple private foundations. AP is solely responsible for all content. Find AP’s standards for working with philanthropies, a list of supporters and funded coverage areas at AP.org . Fabiano Maisonnave, The Associated PressConor McGregor lashes out in vile online rant after losing civil rape caseNEW DELHI: Prime Minister Narendra Modi said that the Waqf law has no place in the Indian Constitution. He said that Waqf is against social justice and that the Congress made the Waqf Act to increase its vote bank. The Prime Minister was addressing the BJP workers at the party headquarters in New Delhi following the party's smashing victory in the Maharashtra assembly elections. "The Congress made laws for appeasement. The situation was that before leaving the government in 2014, these people had handed over many properties of Delhi and surrounding areas to the Waqf Board. There is no place for Waqf law in the Constitution given to us by Babasaheb Ambedkar, but the Congress did this to increase its vote bank,” he said. Modi also said that Congress tried to give the death penalty to true secularism. “Today, Maharashtra has witnessed the triumph of development, good governance, and genuine social justice. Today, the forces of deception, divisive politics, and family dynasties have been defeated! Today, Maharashtra has strengthened its resolve for a developed India. I congratulate and applaud all BJP and NDA workers across the country,” he added.
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