Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Brother Black fly's left hand clue delivery! CTOnews.com January 18, Faraday Future Faraday Future announced this morning that January 18, 2023, Beijing time (January 17, California, USA)-Faraday Future Intelligent Electric Inc, a global shared intelligent electric travel ecosystem company headquartered in California, USA. It is announced today that it has signed a revised and restated shareholder agreement (the "Shareholder Agreement", or "shareholder Agreement") with FF Top LLC ("FF Top"), a wholly owned subsidiary of FF Global Partners LLC ("FFGP").

In addition, the company has also entered into a non-binding cooperation framework agreement with the Huanggang Municipal Government of China ("City of Huanggang", or "Huanggang City") to promote the strategic landing of the company's China-US home market.

Subject to shareholder approval, FF Top will have a super vote at 1:10. In addition, subject to shareholder approval, FF will have a super vote at 1:20 when FF Top's market capitalization reaches $3 billion. Under the terms and conditions set out in the shareholders' agreement, FF Top will also have the right to nominate four FF Top nominees out of seven board seats, which will provide FF Fop with control over the FF board of directors and the right to approve certain financing. FF Top has informed the company that some of the proposals in the shareholder agreement are expected to be submitted to shareholders for approval.

According to the framework agreement signed between the company and Huanggang City, FF plans to relocate its future FF headquarters in China to Huanggang City, which will further support the strategic landing of Sino-US dual home and Sino-US dual genes.

According to the framework agreement signed by the two sides, in order to further achieve complementary advantages, mutual benefit and common development, the two sides should contribute their respective advantages in investment, scientific and technological innovation, industrial transformation, location and policies. It is expected that the Huanggang Municipal Government will actively assist FF in the industrial layout and deployment of relevant resources in Huanggang City, and provide FF entrepreneurial projects in Huanggang City, including but not limited to financial and policy support. Faraday Future plans to relocate its FF China headquarters to Huanggang City, while retaining its global headquarters in Los Angeles, California. FF China headquarters is expected to be jointly funded by Huanggang Municipal Government funds, related industrial funds and FF. The framework agreement was signed in the third quarter of 2022.

CTOnews.com learned that FF signed a contract in Huanggang, Hubei Province, in which the Industrial Fund of the Yangtze River Economic Belt (Yangtze River Industrial Fund) played a very important role. According to the announcement, FF and Huanggang signed the contract as early as the third quarter of 2022. Delay until now the announcement, obviously want to tell the outside world, FF China landing Huanggang basic certainty.

FF expects to begin mass production of the saleable FF 91 Futurist electric car by the end of March 2023, and is expected to go offline in early April and deliver by the end of April. FF has reached its sixth manufacturing milestone, that is, the completion of construction and equipment installation in the vehicle assembly area. This marks the completion of six of the seven milestones set by FF at the end of 2021 (the seventh milestone is SOP). This also represents FF's achievements in mass production of FF 91 Futurist. In addition, FF 91 Futurist has completed major upgrades to the core advanced systems of the vehicle and I.A.I system FF 91 Futurist, namely Intelligent.Autonomous.Internet/ intelligence, self-driving and the Internet) and core components.

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