Faraday Future Intelligent Electric Inc.

Ladies and gentlemen, thank you for standing by. Welcome to Faraday Future Intelligent Electric, Inc., fourth quarter and full year 2023 earnings conference call. At this time, all participants are in a listen-only mode. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I would now like to turn the conference over to Jonathan Morocco, CFO. Thank you. You may begin.

Welcome, everyone, to Faraday Futures' fourth quarter and full year 2023 earnings call. My name is Jonathan Marocco, and I serve as Faraday Futures' interim CFO. Joining me on the call today is our global chief executive officer, Matthias Eidt. We'll be sharing details from today's press release reporting our fourth quarter and full year 2023 results. That press release can be found in the investor relations section of our website at investors.ff.com. A replay of this call will also be posted there later today. Please note that on this call, we will be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. These statements reflect our views only as of today, should not be relied upon as representative of views as of any subsequent date, and we undertake no obligation to revise 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 expectations. 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. With that, I'll turn the call over to Faraday Futures Global CEO, Matthias Eith. Thank you, Jonathan.

And thank you, everyone, for joining our earnings call. I'm excited to share with you an update on our progress in Faraday Future, highlighting key milestones we achieved in 2023 and our strategic initiatives to continue moving forward. 2023 was a milestone year for Faraday Future. We transformed from the development phase to the production and revenue generating phase, establishing FF as a participant in the ultra-luxury and high-performance electric vehicle market. Production milestones were significant this year. On March 29 we commenced production of our flagship FF912.0 and by April 14 the first production vehicle rolled off the line at our FFIE factory, California. The FF91-2.0 passed US Federal Motor Vehicle Safety Standards crash test requirements on May 25, with the first phase of delivery beginning shortly thereafter. In our pursuit of innovation, we launched the ultimate AI tech luxury FF91-2.0 Futurist Alliance and the AI Hypercar Plus on May 31, open for reservations in both the United States and China. To date, we have delivered 11 vehicles to our valuable users. As we move through the balance of the last year, we established a closed-loop operation from user acquisition and delivery to user operations and began engaging industry leaders as FF91 owners and co-creation officers to help continuously improve the user experience. The feedback from these users has been invaluable in helping to refine our products and services and demonstrate our commitment to our user-focused approach. To complement our brand building efforts, we've also focused on enhancing our sales and service capabilities. We launched a leasing program with luxury lease partners, obtained a Bureau of Automotive Repair license, activated a home charging installation program, and rolled out a public charging program. These initiatives are designed to provide a seamless and luxurious experience for our customers. Late in the year, we announced our potential entry into the Middle East market, a significant step in our expansion strategy. This included strategic cooperation agreements with Master Investment Group and Siraj Holding LLC. The response has been phenomenal. With the potential entry into the Middle East, FF would add a third leg to our geographic strategy that also includes the US and China, all markets known for their strong appetite for cutting-edge, high-end products. Shortly after announcing our Middle East entry, we announced a collaboration with the Abu Dhabi Investment Office. To bring our generative AI and advanced intelligence electric vehicle capabilities to the UAE's, smart and autonomous vehicles industry cluster. In April of this year, we further solidified our commitment to the Middle East by establishing a sales entity in Dubai. More recently, we announced the addition of Werner Wilhelm as our Executive Launch Director. Werner brings significant experience and success in vehicle launches and executive management with multiple OEMs and will lead the FF team as we look to ramp up FF91 production this year. The challenge of funding to support our supply chain resulted in production volumes lower than anticipated. We are now working to shore up that supply chain to support production. Let me talk about co-creation. Instead of the traditional one-way sales and marketing approach from manufacturer to dealer to consumer, which is common in the automotive space, and complicates the direct relationship, FF is focused on building a direct and reciprocal relationship with our users. On August 12, 2023, FF celebrated the delivery of the first FF91 2.0 Futurist Alliance. The company has teamed up with notable personalities like Jason Oppenheim, Chris Brown, Sean Lee, and Justin Bell to gain their feedback and input regarding FF91. The insights from our co-creation offices have provided valuable learning ranging from technical suggestions to brand strategy and user outreach. We started a quality campaign accompanying our ramp-up. In addition to our branding goals, FF's operational initiatives also continue to progress. The primary focus in 2024 is the ramping up of production. 2023's factory successes included commissioning our robotic body shop and paint shop equipment and streamlining our vehicle assembly process to increase throughput capability. To strengthen the voice of quality, we combine supplier quality, manufacturing quality and after-sales quality organizations to improve communication and to shorten the response loop. Quality assurance has been enhanced in every phase of the company to help embed a culture of continuous improvement. We are building a stronger quality culture focused on providing our users with improved satisfaction. This meticulous attention to detail is carried over to the final quality checks as each vehicle undergoes comprehensive static, dynamic and functional inspections to guarantee that we fulfill our quality promise to our users. As such, our final quality customer craftsmanship audit, referred to as CCA, improved by 50% compared to our first CCA scores. Significant improvements continue to be made in vehicle build quality in terms of fit, finish and vehicle functionality under the discerning eye of automotive manufacturing veteran Chao-Yang Ning who continues to make incremental improvements in our manufacturing facility. I am profoundly proud of the outstanding dedication demonstrated by our FF team. Their relentless commitment and resilience have been pivotal in advancing our strategic goals amidst formidable challenges. Jonathan will now provide us with an overview of our financials. He will also cover our fundraising efforts and detail the measures we have implemented to reduce costs and strengthen Faraday Futures' financial position. Now, without further ado, I would like to turn the call over to Jonathan.