Faraday Future – A global intelligent mobility ecosystem company

Hi David Stazeki with FinTech TV here today with Jerry Wang, the president of Fairday Future.

Jerry, it's so good to be with you.

Likewise, thank you so much.

Yeah, so just tell us a little bit about your organization and uh what you're bringing to the table right now.

Yeah, absolutely.

We're a California electric vehicle company, um, we're on the super high end one. we are a public listed company on ASDAQ as well, public in 2021.

Uh, we already invested more than $3 billion into our product, technology, manufacture facility, which we have a 1 million square feet facility in Hanford, California.

Uh, we already launched our first flagship vehicle at 91.

You know, we have the opportunity to give you a little bit of a demo for the demo last night.

I hope that you enjoyed the demo, yeah, and we are, you know, fully passed the certification for obligation under the US regulations and uh it's in production.

So, um, besides that, we're in the process of launching our second brand.

It's called Faraday X or FX, and the second product will be launched, uh, we're starting, uh, production by end of this year.

Wow, that's where we are.

That's so exciting.

And by the way, the cars are absolutely beautiful, so I can't wait to see the new ones that are gonna come.

So, uh, where do you think that you fit kind of in the EV space right now or in the car space here, uh, as it relates to just everything that's going on?

Yeah, you're right.

So in general, we think that uh on the uh vehicle industry or vehicle market in the United States, there are tremendous opportunity.

We are the second largest market on the automotive globally and, uh, to be honest, the competition, uh, is not as severe as in the other markets, to be honest.

So we think Tesla is doing an amazing job, but they're covering the MSRP between 40,000 to 100,000.

Right.

So our strategy with our first brand is more covering the uh the market with above 100,000, the vehicle that you experience starting MSRP will be 130,000 all the way up to 300,000.

So if you wanted to purchase a Rolls-Roy, Ferrari, or Bentley kind of type of super luxury vehicle in the electric vehicle field, so hopefully we're the only one that is offering that kind of product and brand, right?

So that's the first vehicle segment.

And the second market segment that we're getting into is something below 40,000, right, which Tesla does not cover.

But we think that with a global, uh, capacity, global amazing product, technology and supply chain, which we manufa probably manufacturing in the United States.

We want to bring a few of those products into the United States, not only bring that product but also bring their manufacturing, bring their supply chain, bring their everything.

Process wise, quality control wise and really make amazing affordable electric vehicle available to general, general US uh US US people.

So that that's how we think that we can be tremendously.

So the lower cost option and the highest end and by the way, the one I was in last night was like the chauffeur version and reclines and has a big TV and all sorts of fun stuff.

But uh so we're talking about a lot.

Components going into this car, you know, the big conversation right now is about tariffs.

How might this affect you guys and how does this affect you today?

Yeah, uh, actually, uh, you know, talking about, uh, two products or two brands, right, for fair the future since it's manufacturing in here, developing here, everything in house actually we source, uh, more than 50% locally in the United States.

Excellent.

Yeah, so actually I think it's a great benefit to us, you know, the general director. of this policy is to support, like, you know, high-end manufacturing going back to the United States, which we have been doing for 10 years and invested more than $3 billion.

So I think it's tremendously helpful to our, you know, first product, you know, first brand, you know, to launch, uh, and go scale up, uh, in the near future, but also for our second brand because that, you know, there are, you know, approximately half of the vehicles sold in the United States are imported.

So in general if the tax go up like 10%, 20%, right, so in many business case will be just destroyed or not able to work, you know, uh, according to new tax rules, right, right.

So this will open up market opportunity market window for like, you know, 20% of the current, you know, current total market which is like 15 million vehicle times 20% is 3 million vehicle opportunity, right? for players like us it is relatively new but tapping into this.

Cars mass volume market opportunity even if we capture like 1% 2% of that, you know, new opportunity will be doing fine and we'll have a chance to uh to to be profitable.

So I think it opens tremendous opportunity not only for the FF brand but also for the FS FX vehicle as well.

That's wonderful.

Any milestones here that you want to share with us before we kind of wrap up?

Yeah, absolutely, um, but you know, around mid of this year we will launch.

Our second product, which is 1st product under the 2nd brand FX, uh, we're really much looking forward to that grand, uh, grand product launch.

We'll start to collect paid reservations, yeah, and we'll get very excited about that.

You know, we actually, if you have a chance, you know, we warmly welcome you, come and take a look at our headquarters in Los Angeles.

Every people that will show that car, people love it.

Even myself would like to purchase one car for sure.

So we get very.

I am we very look forward to, you know, launch the product and start, uh, start reservation, paid reservation collection, and we will, you know, having the car start the production by the end of this year.

So we're looking forward to that major milestone as well.

That's amazing.

Well, uh, really excited about Ferry day, really excited about, uh, uh, what you guys are bringing to the table and, uh, your journey.

So we look forward to watching that.

Yeah, much appreciated.

Thank you very much.

Thank you.

Thank you.