Faraday Future Intelligent Electric Inc.

Greetings. Welcome to Faraday Future Intelligent Electric, Inc. First Quarter 2025 Earnings Call. At this time, all participants are in a listen-only mode. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Jonathan Schilling, Director of Public Relations and Communications. Thank you. You may begin.

Welcome, everyone, to Faraday Futures' first quarter 2025 earnings call. This is John Schilling, Director of PR and Communications at FF. Today, I'm joined by a few members of our leadership team, including our Global Co-CEO, Matthias Eit, our Global President, Jerry Wang, our CFO, Cody Mecca, and our Founder and Global Co-CEO, Y.T. Jha. Today, we will be sharing details from our first quarter 2025 results. The press release as well as today's presentation will be available 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 the 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. In today's call, we will be covering the following topics, the first quarter overview and financial highlights, our development progress together with our second quarter and full year outlook. The management team will also address frequently asked questions from our shareholders. With that, I will now turn the call over to Mateus.

Thank you, John. Hi, everyone. This is Matthias, the global co-CEO of Faraday Future. I'm pleased to share our key developments for the first quarter of 2025 through today, which reflect growing operational maturity, expanding market reach, and strategic execution across our AI-driven mobility roadmap. We began the quarter by announcing our plans for the FX Super 1, which would be our first class AI MPV product. This marks a pivotal moment in our mass market strategy. We also officially entered the East Coast market with the delivery of our first FF912.0 in New York, expanding our regional footprint beyond California. To support FX development, we have kicked off US homologation and road testing for the FX Super 1 and FX 6 prototype mules to keep us on track toward regulatory and production milestones. In alignment with our long-term focus on implementing AI technology to our cars, building the next generation of AI EV, we completed our ticker symbol change to FFAI, underscoring our strategic focus on AI integration across our product and operational ecosystem. We also established a new subsidiary, Future AI Hybrid Extended Range, AI HER. which will lead the design and development of the world's first AI-powered hybrid extended-range electric powertrain. This is a core enabler of our long-term platform strategy. Internally, we enhance our capital and operational leadership, with Cherrywang appointed as global president to drive global execution, product delivery, and organizational efficiency. And just recently, we finally invited Y-Teacher, our founder, to come back to the helm and co-lead the company as co-CEO together with me. Now turning to vehicle delivery, we continue to expand our client base with two FF91 2.0 deliveries, one in California and one in New York. In technology and AI, we have made strong progress across product planning and software enhancements. We have begun technology planning for our AI hybrid extended range system, which could power the next generation of FF products. We have also successfully delivered the first internal development version of our AI-powered vehicle operating system built on our AI agent framework, enabling intelligent in-cabin and driving experiences. Our FF91 software continues to evolve With the version 57 update released during the quarter, further enhancing user experience, stability, and performance. In capital and investor relations, we received $20 million from a prior financing round and secured an additional $41 million in new funding, subject to closing conditions. These funds are crucial to support FX ramp-up, AI R&D, and market expansion. We also hosted a successful investor event in New York, where we engaged stakeholders, shared strategy updates, and announced plans to open a New York Metro office to deepen our presence in this key market. As part of our global strategy, our Middle East facility in Ras Al Khaimah Economic Zone is now ready for occupancy. The local team will be taking over shortly, bringing our international production capacity another step closer to activation. Finally, on the operations front, we remain laser-focused on executing our FX strategy and enhancing work efficiency. We hosted our first FF Open AI Day not only to spotlight our AI capabilities, but also to attract top engineering and data science talent aligned with our long-term platform roadmap. We also continue to improve our operation efficiency and compliance through different methods, including AI-powered management system. Now let's welcome Cody Mecha, our CFO, to talk about the financials.