41 slides from Faraday Future Intelligent Electric's investor presentation, Jul 25, 2022
Slide 1: Faraday Future Management Presentation 2022
Faraday Future Intelligent Electric Inc. Management Presentation 2022 CONFIDENTIAL – CONTAINS MATERIAL NONPUBLIC INFORMATION © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL
Slide 2: Legal Disclaimers
Legal Disclaimers C o n f i d e n t i a l i t y a n d B a s i s o f P r e s e n t a t i o n T h e i n f o r m a t i o n i n t h i s p r e s e n t a t i o n i s h i g h l y c o n f i d e n t i a l . T h e d i s t r i b u t i o n o f t h i s p r e s e n t a t i o n b y a n a u t h o r i z e d r e c i
Slide 3: Today's Participants
Today’s Participants Dr. Carsten Breitfeld Global CEO • Automotive industry executive with 25 + years of experience • Served 10 + years as Group Vice President and Head of i 8 vehicle program at BMW • Co - founded and served as Chairman and CEO of BYTON Becky Roof Interim CFO • Financial consulting
Slide 4: The Future of the Industry
The Future of the Industry Vehicle Electrification is a Given – The Future Will be Electric, Intelligent and Connected Represents a New Species Designed to Reset Expectations for Connected Mobility Legacy ICE Current EVs FF 91 – A New Species © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 3
Slide 5: FF product series
FF 91 SERIES — First production vehicle and flagship model — Class defining luxury, performance, technology, connectivity and personalized user experience — 3 motor FF 91 Futurist with ~350 miles EPA range, ~720 km NEDC range (2) — 2 motor FF 91 standard with ~370 miles EPA range, ~780 km NEDC Range
Slide 6: © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 5
© 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 5
Slide 7: Situation Overview
Situation Overview ― Inflation and industry - wide raw material cost increases ― Tech and product upgrades for FF 91 ― Supply chain re - sourcing to ensure FF 91 competitiveness ― Increased vendor and certification costs (inc. restrictive vendor payment terms) ― Costs stemming from internally driven
Slide 8: Fully Committed to Delivering the FF 91
Fully Committed to Delivering the FF 91 This capital raise will help support customer deliveries of the FF 91 ▪ Faraday Future has invested nearly $2.4 billion to build the infrastructure required to execute its business plan ― FF current preorder book is a reasonable match to 2022 production expect
Slide 9: How Faraday Future Stands Apart
How Faraday Future Stands Apart • 0 – 60 mph in <2.5 seconds • 1,000+ horsepower • Unrivaled passenger comfort - Industry - leading 60 ƒ recline & leading rear leg room space Industry - Leading Performance & Luxury • Immersive rider experience with 27” rear passenger display and 17” front passenger
Slide 10: A Unique Value Proposition Delivering Differentiated Brand Positioning
— Differentiated premium brand positioning — FF products designed for different vehicle segments, sharing common brand DNA — Modern design: styling and interior materials — Superior driving experience: leading power and performance — Personalized user experience: space, comfort and connectivity — FF
Slide 11: Select Features
Select Features — 3 motor FF 91 Futurist with ~350 miles EPA range , ~720 km NEDC range (1) — 2 motor FF 91 standard with ~370 miles EPA range , ~780 km NEDC Range (1) — 0 - 60 mph in <2.5 sec (3 motor FF 91 Futurist) — 1,050 hp ( 3 motor configuration) — DC fast - charging capability among industry
Slide 12: Media quote: Carbuzz
“…The FF 91 promises to be a tech powerhouse and its claim to fame is the sheer amount of digital displays inside the cabin…” - Carbuzz © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 10 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 11
Slide 13: Media quote: Digital Trends
“The passenger experience is heaven. The back seat is a dream. I don’t need my hotel room, I thought. I can sleep here…” – DIGITAL TRENDS © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 10 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 12
Slide 14: Built Around Performance and Comfort vs. The Competition
Built Around Performance and Comfort that Stands Out vs. The Competition Source: Note: (1) Based on passenger car data provided on company websites, auto industry resources (carbuzz, autoweek, cnet, motor authority, EV specifications, Car & Driver) and media releases as of May 18, 2022. All statemen
Slide 15: Designed from the Ground Up with the Driver Top of Mind
Designed from the Ground Up with the Driver Top of Mind — Redefining engagement that identifies user upon approach and reconfigures vehicle preferences and settings — Five driver - specific screens including an ultra - large heads - up display and slim instrument cluster — Reconfigurable 3D touch st
Slide 16: Coupled With an Unsurpassed Passenger Experience
…Coupled With an Unsurpassed Passenger Experience Note: (1) (2) (3) All statements shown reflect expected performance / capabilities for production ready vehicles. Actual performance / capabilities may be different. Please see Risk Factors within the Appendix of this presentation, as well as within
Slide 17: IoV Video
Io V Video © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 16
Slide 18: Culmination of Significant R&D and Investment
~ $ 2 . 4 b i l l i o n i n v e st e d t o d a t e a c r o ss d e v e l o p m e n t o f : – S c a l a b l e E V P l a t f o r m – I m m e r s i v e a n d C o n n e c t e d D r i v e r / P a s s e n g e r E x p e r i e n c e – M a n u f a c t u r i n g C a p a b i l i t i e s – M u l t i p l e P r e
Slide 19: Driving Differentiated Technology Position
1 2 3 …Driving Differentiated Technology Position Variable Platform Architecture (VPA) — Provides >60% component carryover — Increased speed to market — Significant cost savings — Ease of scalability — Manufacturing flexibility — Easy servicing capability — Adaptable to multiple models Differentiate
Slide 20: Vehicle series, target pricing and TAM
Source: Note: (1) (2) Q1 - 2022 LMC forecasts. FF 91 Futurist Alliance Limited Edition vehicles will be priced at $250,000. FF 81 and FF 71 series vehicles subject to future financing. Target pricing as per 2021 10 - K; specific pricing will be refined and finalized closer to the start of delivery f
Slide 21: Hybrid Asset-Light Manufacturing Strategy
Factory opening Pilot Lines Operational / July 2022 Opening (expected) TBD Subject to Future Financing Total factory capacity ~10,000 vehicles per year (expected) TBD TBD – Focused on China FF 81 and FF 71 demand Vehicle series produced FF 91 FF 81 TBD Supported by a Hybrid Asset - Light Manufacturi
Slide 22: Manufacturing Update: Hanford Nears Completion
Manufacturing Update | FF 91 Coming to Life as Hanford Nears Completion L e a r n i n g s s e t f o u n d a t i o n f o r f u t u r e m o d e l s Hanford Facility Producing Production - Intent Vehicles Today – Scaled Production in Sight – P r e - p r o d u c t i o n v e h i c l e b u i l d s u n d e
Slide 23: Sourcing of Critical Components
Sourcing of Critical Components — Inverter completely designed, patented and assembled in - house — Electric motor and gear box designed using FF IP and manufactured to FF specifications — Battery pack sourced from leading global supplier — Supplementing proven Internet of Vehicle (IOV) and ADAS sys
Slide 24: Direct sales model online and offline
Direct sales model utilizes online and offline channels to drive sales and user operations and continuously create value Comprehensive Online to Offline Sales Ecosystem to Support Go - to - Market Targeting Stores in Top 20 Cities Across 3 Major Markets by 2025 FF STORES FOR BRAND ESTABLISHMENT FF P
Slide 25: Financial Overview
Financial Overview © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 24 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 24
Slide 26: Q2 2022 Update and Liquidity Position
Q 1 2022 U pdate and L i q u i d i ty Position Source: (1) Q3 2021 10 - Q, FY 2021 10 - K, Q1 2022 10 - Q, Company Materials. Q4 2021 and Q1 2022 End of Period Cash figures include $25.3mm and $1.0mm of restricted cash, respectively. ― S u b s t a n t i a l p r o g r e s s a t H a n f o r d , C A f
Slide 27: Transaction Proceeds Expected to Fund FF Deliveries Through YE 2022
Transaction Proceeds Expected to Fund FF 91 Deliveries Through YE 2022 – Current business plan assumes ~$325mm of incremental capital required to fund the business through 2022 YE – Plan assumes ~$200mm in the near - term funding via PIPE (although Faraday Future is open to raising additional funds
Slide 28: How Faraday Future Stands Apart
How Faraday Future Stands Apart • 0 – 60 mph in <2.5 seconds • 1,000+ horsepower • Unrivaled passenger comfort - Industry - leading 60 ƒ recline & leading rear leg room space Industry - Leading Performance & Luxury • Immersive rider experience with 27” rear passenger display and 17” front passenger
Slide 29: A Story of Perseverance and a Relentless Drive to Change the Future
A Story of Perseverance and a Relentless Drive to Change the Future © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 28 © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 28
Slide 30: www.ff.com
© 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 29 W W W . F F . C O M © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL
Slide 31: Faraday Future vs Recent Electric Vehicle Opportunities
Faraday Future vs Recent Electric Vehicle Opportunities Employee Headcount ~790 ~3,900 ~455 <500 (1) ~250 Current Market Cap (2) ~$960mm ~$33.1bn ~$3.2bn ~$850mm ~$400mm Target Production Date Summer 2022 (Start of Deliveries in Q3 - Q4 2022) In Production (Q3 - 2021) November 2022 Q4 2022 Q3 2021 H
Slide 32: Dual Home Markets: FF's Unique Cultural Advantage
Dual Home Markets: FF’s Unique Cultural Advantage Source: Forecasts per IEA 2021 Global EV Outlook report, dated April 28, 2021; sales represent total EV sales by country. US BEV Vehicle Sales Volume Forecast (Units in millions) 8.3 12.0 2020 2025 2030 2025 2030 8.1 1.3 China BEV Vehicle Sales Volum
Slide 33: Variable Platform Architecture (VPA)
Enabled by Industry - Leading Variable Platform Architecture (“VPA”) DRIVE UNIT CHASSIS BATTERY INTEGRATED STRUCTURE (UNDERBODY) Key Advantages Various Motor/Powertrain Configurations x One to three motor configurations x Maximizes reuse x Torque vectoring capable with AWD and four - wheel steering
Slide 34: Unique FF Propulsion Technology
Transformed by Unique FF Propulsion Technology Advanced technology battery pack Low volume, high efficiency integrated motor and inverter Proprietary inverter design integrated directly into motor assembly — Very low inverter losses provide 98% efficiency — High torque accuracy with fast transient r
Slide 35: Intelligent & Tech-Enabled: TechLuxury
Intelligent & Tech - Enabled – Defining its Own Category “TechLuxury” T e c h L u x u r y p r o v i d e s e v e r y p e r s o n i n t h e v e h i c l e w i t h a n i m m e r s i v e a n d c o n n e c t e d e x p e r i e n c e , c r e a t i n g o p p o r t u n i t y f o r a d d i t i o n a l f u t u
Slide 36: Comprehensive After-Sales Strategy
Online Offline Predictive Maintenance Remote Diagnostics FF & Partner Service Network Mobile Service Digital Service ALL in ONE User Support Center Authorized Service Network OTA Predictive Service In - Service User Scheduling After - Sales Service L a u n c h i n g w / C o m p r e h e n s i v e A f
Slide 37: Comprehensive & Expanding Charging Solutions
Comprehensive & Expanding Charging Solutions Home Charger (Level 2) • Smart, connected and powerful Level 2 charging station • Integrated into Faraday Future CID/ app • 19.2 kW DC Fast Charger (future) • FF - developed and FF - branded public DC charger for ultra - fast - charging on the road, partn
Slide 38: Smart Last Mile Delivery Vehicles Growth Opportunity
Smart Last Mile Delivery Vehicles Provides Attractive Future Growth Opportunity © 2022 FARADAY FUTURE PROPRIETARY AND CONFIDENTIAL 37 High growth opportunity — Platform will target customers in Last Mile Delivery and distribution segments in Europe, China and US — Strong expected market growth drive
Slide 39: Summary of Risk Factors
Summary of Risk Factors • F F ’ s f o u n d e r a n d C h i e f P r o d u c t a n d U s e r E c o s y s t e m O f f i c e r , M r . Y u e t i n g J i a ( “ Y T J i a ” ) , i s c l o s e l y a s s o c i a t e d w i t h t h e i m a g e a n d b r a n d o f F F . C i r c u m s t a n c e s a f f e c t i
Slide 40: Summary of Risk Factors (Cont'd)
Summary of Risk Factors ( Cont’ d) • T h e m a r k e t f o r F F ’ s v e h i c l e s i s n a s c e n t a n d n o t e s t a b l i s h e d . • F F i s d e p e n d e n t o n i t s s u p p l i e r s a n d t h e i n a b i l i t y o f t h e s e s u p p l i e r s t o t i m e l y d e l i v e r n e c e s s a
Slide 41: Summary of Risk Factors (Cont'd)
Summary of Risk Factors ( Cont’ d) • U n d e r t h e P R C E n t e r p r i s e I n c o m e T a x L a w , w e m a y b e c l a s s i f i e d a s a P R C “ r e s i d e n t e n t e r p r i s e , ” w h i c h c o u l d r e s u l t i n u n f a v o r a b l e t a x c o n s e q u e n c e s t o u s a n d o u r