Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: Recent Developments Include FX Signing a Deposit Agreement for 1,000 FX Super One MPV’s with ZEVO, a Pioneer of Peer-to-Peer EV Sharing Platform in the U.S.

Rhea-AI Summary

Faraday Future (NASDAQ: FFAI) shared a weekly investor update (Oct 12, 2025) from Founder & Co-CEO YT Jia covering recent commercial and operational developments.

Key items: FX signed a deposit agreement for 1,000 FX Super One units with ZEVO (non-refundable deposit received; preorders non-binding), expansion into peer-to-peer EV sharing in Texas and other U.S. markets, a two-month sprint to hit the U.S. year-end vehicle off-line target, and an Oct 28 UAE Super One product final launch. The update also notes government affairs engagement, a pending QLGN shareholder meeting in Nov 2025 (possible rebrand to CXC10), and upcoming news on the first U.S. FX Super One off-line milestone.

Positive

• 1,000-unit deposit agreement signed with ZEVO
• Non-refundable deposit for FX Super One already received
• Expansion into peer-to-peer car-sharing across Texas and core U.S. cities
• UAE Oct 28, 2025 Super One product final launch planned

Negative

• Preorders are non-binding, limiting firm delivery commitments
• U.S. year-end off-line target in a two-month sprint
• Key execution areas require acceleration: homologation, supply chain, manufacturing
• QLGN strategic investment requires Nov 2025 shareholder approval

Insights

Mobility Strategy Expert

Deposit for 1,000 FX Super One units with ZEVO and upcoming launches accelerate FF's B2B2C commercialization path.

FX secured a non-refundable deposit for 1,000 FX Super One vehicles via a deposit agreement with ZEVO, a Dallas-based peer-to-peer EV sharing platform operating across Texas, California, Arizona, Florida, and Nevada. The agreement expands the Co-Creation Ecosystem Online Direct Sales model into Texas and adds peer-to-peer car-sharing to existing B2B2C channels like car rental and real estate brokerage.

Operationally, the company reports a dedicated project team driving engineering, supply chain, homologation, and manufacturing toward the U.S. year-end vehicle off-line target, and a October 28th UAE product launch slated to precede U.S. deliveries. A special meeting of QLGN stockholders is scheduled for November 2025 to consider rebranding to CXC10, linked to the Crypto and AI strategy; the deposit was already received according to the update.

Key dependencies and risks include successful homologation, manufacturing ramp, and execution of the U.S. off-line milestone next week as promised; these items determine whether the announced commercial commitments convert to deliveries. Watch the announced near-term U.S. off-line milestone, the October 28th UAE launch outcomes, and the November 2025 QLGN shareholder vote for signalable progress over the next one to three months.

• ZEVO deposit agreement represents another innovative breakthrough in the Company’s B2B2C sales model, following the car rental, FX Par, real estate brokerage, and MCN agencies.
  
• FF Announced Pinnacle Real Estate Group President Calvin Gong as the latest FF 91 2.0 Futurist Alliance Co-Creation Officer at a ceremony in Los Angeles on Oct. 8.
  
  

LOS ANGELES, Oct. 12, 2025 (GLOBE NEWSWIRE) -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Global Co-CEO of FF.

“Welcome to the 24^th issue of our Weekly Report. Sorry for showing up in a cap today. I’ve been dealing with a very serious case of shingles on my head these past few days, which has affected my condition a bit. Everyone, please also take good care of your health and get enough rest.

On EAI Flywheel this week, starting with S1 User Ecosystem:

This week, FX signed a deposit agreement for 1,000 units of FX Super One with ZEVO, the pioneer of peer-to-peer EV sharing platform in the U.S. The agreement includes non-refundable deposits and non-binding preorders, and the non-refundable deposit has already been received. The signing of this agreement not only marks that FX’s Co-Creation Ecosystem Online Direct Sales model has expanded into Texas, the second-largest EV market in the United States. It also represents another innovative breakthrough in our B2B2C sales model. Following the car rental, FX Par, real estate brokerage, and MCN agencies, FX has now also entered the rapidly growing peer-to-peer car-sharing market.

Based in Dallas, ZEVO not only allows individual car owners to list their own EVs for user-to-user sharing but also provides flexible short-term rental programs for ride-hailing and instant-delivery drivers. Its business has now expanded to core cities in Texas, California, Arizona, Florida, and Nevada. Through the cooperation with ZEVO, FX not only further expands the sales and use cases of FX Super One, but is also expected to speed up the implementation of our co-creation and sharing ecosystem. At the same time, when the car-sharing business and CXC10’s Three Growth Engines spark meta-chemistry — especially through the EAI + Crypto Dual-Bridge RWA products — new possibilities will emerge. The value of real-world mobility will be redefined and expanded in Web3 scenarios. This meta-chemistry could greatly accelerate the convergence of Web2 and Web3, and of EAI and Crypto, creating the greatest value for our stockholders.

This week, we also held a "Car Home Crypto Co-Creation" delivery event with Pinnacle. Calvin Gong is our first Co-Creation Officer since we announced the “EAI + Crypto” Dual Flywheel & Dual Bridge Eco-Strategy. We look forward to creating meta-chemistry between real estate, automotive, and crypto together with industry leaders like Pinnacle. This could help us co-create greater value and enable users to share more benefits.

Now going to S2-4 Product & Technology, Supply Chain, Production & Delivery:

The FX Super One U.S. year-end vehicle off-line target has officially entered the final two-month sprint stage. This week, the company established a dedicated project team to coordinate and drive the work. Key areas — including engineering, supply chain, homologation, manufacturing and so on— are all accelerating across the board.

On S6 Middle East:

Our global teams are working across three locations in full force to prepare for the October 28th UAE Super One Product Final Launch. As the strategic third pole, the UAE will host its major Super One product launch for the first time and take the lead in initial vehicle deliveries — a milestone of great significance for FF and FX’s global strategic layout. The experience gained through this event will also help ensure the smooth progress of the upcoming vehicle off-line and final launch activities in the U.S.

Going to S7, Capability and System Build-Up:

This week, members of our government affairs team were invited to attend a gala in Washington D.C. that brought together political, media and entrepreneurial leaders from across the U.S. We continue to strengthen our government affairs capabilities, and they are making progress assisting the company in public sector engagement, policy incentives, tariff strategy, and more.

Now let’s look at the Crypto flywheel:

Following the completion of the strategic investment in Qualigen (QLGN), the Crypto team has been advancing its business operations while accelerating the transition work. The special meeting of QLGN stockholders is currently scheduled for November 2025. If the transaction is approved, QLGN is expected to be rebranded as CXC10, marking the beginning of a new chapter in Crypto and AI operations for that company.

Next week, we will announce a major milestone related to the first FX Super One vehicle off-line target in the United States. Please stay tuned for the update. Okay, I'll see you later.”

ABOUT FARADAY FUTURE

Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company’s mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future’s flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/us/

FORWARD LOOKING STATEMENTS

This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the cross-collaboration with Calvin Gong, President of Pinnacle Real Estate Group, Super One product development and delivery, EAI and Crypto Dual-Bridge RWA products; and future QLGN activities, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure agreements with OEMs that are necessary to execute on the FX strategy; the Company’s ability to secure the necessary agreements to sell the Super One in the UAE and the Middle East; the ability of FX’s OEM partner to timely deliver the Super One and related parts to the US and the UAE; the number of Super Ones that Pinnacle ultimately chooses to purchase, which may be as few as one; the number of potential purchasers for the Super One that Pinnacle can identify; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on March 31, 2025, and Form 10-Q filed on August 19, 2025, and other documents filed by the Company from time to time with the SEC.

CONTACTS:

Investors (English): ir@faradayfuture.com

Investors (Chinese): cn-ir@faradayfuture.com

Media: john.schilling@ff.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f69a6de-d3b6-4b31-9b7c-1c1a63c31ef8

FAQ

What did Faraday Future (FFAI) announce on October 12, 2025 about ZEVO?

FFAI announced a deposit agreement for 1,000 FX Super One units with ZEVO; a non-refundable deposit has been received and preorders are non-binding.

Does the ZEVO agreement for FFAI guarantee delivery of 1,000 vehicles?

No; the announcement states the deal includes non-binding preorders, although a non-refundable deposit was received.

What is FFAI’s timeline for U.S. vehicle off-line targets?

FFAI said the U.S. year-end vehicle off-line target has entered a final two-month sprint with a dedicated project team.

When is Faraday Future’s UAE Super One product final launch?

The company set the Oct 28, 2025 UAE Super One product final launch, with initial deliveries planned there.

How does the ZEVO partnership affect FFAI’s sales model?

FFAI said the ZEVO deal expands its B2B2C co-creation online direct sales into peer-to-peer car sharing in Texas and other markets.

What corporate milestone is pending related to QLGN and FFAI’s crypto strategy?

A special meeting of QLGN stockholders is scheduled for November 2025; approval would lead to rebranding as CXC10 and crypto/AI integration plans.