Faraday Future Intelligent Electric Inc.

Greetings and welcome to the Faraday Future Intelligent Electric Inc. Third Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jonathan Marocco, CFO. Thank you, Jonathan. You may begin.

Thank you, and welcome everyone to Faraday Future's third quarter 2023 earnings call. We issued a shareholder letter reporting our results and followed our quarterly report on Form 10-Q for the third quarter 2023 this afternoon, November 13th, 2023. Joining the call from Faraday Future is our Global Chief Executive Officer, Matthias Eicht, and myself, Jonathan Marocco, Interim Chief Financial Officer. You can find a copy of the Q3 2023 shareholder letter now and a replay of this call later today on the investor relations section of our website at investors.ff.com. Please note that on this call, we will be making forward-looking statements based on current expectations and management assumptions. These statements reflect our views only as of November 13, 2023, and should not be relied upon as representative of views as of any subsequent date. Except as required by law, we undertake no obligation to revise, update, or publicly release the results of any revision to these forward-looking statements in light of new information or future events. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed or implied. For further discussion of the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC, including the section titled Risk Factors in our latest annual report on Form 10-K-A and our quarterly reports for the second and third quarters of 2023 on Form 10-Q. In addition, during today's call, our management team will give their prepared remarks and answers to investors' questions in English. A translator will provide simultaneous Chinese translation which can be accessed through ff.com. All translations are provided for convenience only. In the case of any discrepancy, management statements in English will prevail. With that, I will turn the call over to Matthias Eit, Global CEO of Faraday Future.

Thank you, Jonathan. And good day, everyone. And thank you for joining our conference call. Before we begin, I'd like to say that it is a great honor to be appointed Global CEO and that I am excited to further leverage my experience in product, technology, research and development to help elevate Faraday Future to the next level. Today I will give you a brief update about our progress with our co-creation plans, production and delivery highlights, as well as an overview of the initiatives around our sales and service program. Following this, Jonathan will provide a review of our financials, covering topics such as fundraising and measures we've implemented to strengthen Faraday Future. The third quarter has been a defining period for Faraday Future, propelling us further on our journey of innovation and growth. With the initial delivery of the FF91-2.0 Futurist Alliance, we are now a revenue-generating company. Since then, we have delivered seven vehicles and onboarded 10 new FPO co-creation users, gaining invaluable feedback. With a vehicle that we are excited to show the world, we are now focused on getting the word out on just how amazing this vehicle is. And not just the vehicle, but communicating the entire vision behind Fiori Day Future, the connected mobility, co-creation, and the lifestyle of tech luxury. To help build our brand identity, we hosted the inaugural FF Developer Co-Creation Festival at the revered Pebble Beach Concours d'Elegance, which has become an annual gathering of rare and antique automobiles, international automotive experts and motorcar enthusiasts from around the globe. Reaching this point did not occur overnight. In fact, this was a culmination of nine years of hard work and dedication by the team and 3 billion of investments. With our innovative efforts, we were able to introduce this new species to the market, this all-ability vehicle with the performance of a sports car, the luxury of a sedan and the terrain handling of an SUV. And all of this is fitted with the latest technology from entertainment to AI handling. Since reaching our initial production and manufacturing milestones, we are now focused on building our brand identity and scaling up production. Working closely with our co-creators, FF has been able to refine our product and tailor it to the needs of our user group. We also grow our visibility and build our brand positioning and recognition in the ultra-luxury market segment. We further showcased the FF91 2.0 Futurist Alliance's performance capabilities with an impressive lap record at both the Button Willow Raceway and Willow Springs Raceway, achieving record lap times in the SUV and crossover segments. In addition to our branding goals, our operational initiatives continue to progress as we remain focused on ramping production capacity. Building of our Q2 momentum, we made further production improvements by refining our manufacturing throughput and process. Specifically, our approach to produce in batches has allowed us to embed a culture of continuous improvement, refining our processes with each production cycle. This meticulous attention to detail is carried over to the final quality checks, as the vehicle undergoes comprehensive inspections, static, dynamic and functional, to guarantee that we fulfill our product promises to our users. As such, our final quality customer craftsman audit, referred to as CCA, improved by 50% compared to the first CCA scores. Significant improvements continue to be made in vehicle build quality in terms of fit finish and functionality of the vehicle. These improvements are measured through the point-based quality audit scoring system. The team is also working to optimize vehicle assembly and here I'd like to commend Mr. Ning, our head of manufacturing and quality, on the great job he has been doing with the factory. As we look forward, our focus is set on continued ramp of vehicle production and building our brand with co-creation. And these initiatives do more than just elevate our brand presence. They cultivate a deep connection between FF and its community, offering an enriched brand journey. We forged alliances with several industry leaders. Beyond our collaboration with Jason Oppenheim, we have teamed up with notable personalities like Chris Brown, Justin Bell and Eric Bell. The insight from our co-creation offices have been instrumental, enriching diverse facets such as brand strategy and user outreach. At its core, co-creation transcends mere collaboration. It's the manifestation of our commitment to centering our users in all our endeavors. Through collaborative partnerships with co-creators, the company believes that substantial value can be accessed across various aspects such as product development, technological development, brand amplification, trust and loyalty, pricing power, strategic positioning and brand marketing. This paradigm sets us apart in the dynamic EV landscape, ensuring our offerings are not merely technologically superior, but also resonate with the ever-evolving expectations and aspirations of our clientele. To complement our brand building efforts, our sales team was busy at work this quarter building out our sales and service capabilities. Here's an overview of our recent advancements. Leasing Program Launch In collaboration with luxury lease partners, we have initiated a leasing program for our FF91-2.0 Futurist Alliance owners. With competitive pricing, customers can acquire our flagship model with just a few electronic clicks in line with our vision of an intelligent electric future. LA Flagship Store Construction is underway for our flagship store situated in Beverly Hills Prime Shopping District. This project promises both physical and digital experience, giving our users a glimpse into Faraday Futures' intelligent mobility ecosystem. Mobile Service Fleet We've activated our Mobile Service Fleet, offering on-demand concierge service to our first FF91-2.0 Futurist Alliance owners. GCLA sponsorship. Our sponsorship of the Greater California Livery Association, the core of California's luxury limousine industry, marks the beginning of promising collaborations with premier luxury limousine operators. Bureau of Automotive Repair License. Holding a license from the California Bureau of Automotive Repair is a testament to our commitment to uphold the highest standards in vehicle maintenance, warranty repairs and service. Home charging installation program activation. In alliance with Q-Merit Electrification, we have launched our home charging installation program. The FF home charger, which supports up to 19.2 kilowatt, is a Wi-Fi connected smart charger compatible with most EVs. Public charging program. Ensuring uninterrupted travel for our vehicle owners, we've rolled out a public charging program. Every FF912.0 Futurist Alliance owner is entitled to $1,000 charging credits applicable across major US EV charging networks. We are dedicated to paving the way for a future where luxury and sustainability converge and these endeavors are a glimpse of our unyielding commitment to our users and stakeholders. Looking forward, the company will host an FF Middle East Strategy launch press event during the week of the Formula One Grand Prix in Abu Dhabi later this month. The Middle East market presents exciting opportunities for smart and autonomous vehicles and is well aligned with our product technology and brand positioning. We look forward to this being our first of many events and collaborations in the Middle East. Now I will turn the call back to Jonathan, who will go over the financials.