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CTOnews.com, January 27 / PRNewswire-FirstCall-Asianet /-- according to Faraday Future, Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) ("FF", "Faraday Future" or "the Company"), a global shared electric travel ecosystem company headquartered in California, USA, announced that Mr. Mo Cuitian, Executive Vice President of FFIE Global user Ecology, has been appointed as Executive Director of FFIE's Board of Directors, effective January 25, 2023. On the same day, the board of directors also appointed Mr. Mo Cuitian as a member of the Finance and Investment Committee of the Board.

At the same time, the FFIE Board Election Committee established in accordance with the relevant points of the agreement between FFIE, FF Top Holding LLC ("FF Top") and FF Global Partners LLC ("FFGP") approved the nomination of Mr. Mok Cuitian as the designated candidate for FF Top as a member of the Board of Directors of FFIE 2023 Annual General meeting, which shall take effect upon approval of the Annual General meeting. The company is choosing a date for the 2023 annual general meeting, which is expected to be announced soon.

Mr. Mo Cuitian is Faraday Future Global Executive Vice President, FF Global partner Management Board member and Executive Committee member. Mr. Mo Cuitian leads the FFIE global user ecology team to complete the strategy and implementation of FFIE global brand communication and marketing, O2O sales, after-sales service, user operation, and the construction of global ecological O2O direct sales system.

Mr. Mo Cuitian is a senior leader with more than 15 years of executive experience in the global consumer electronics, high-tech Internet and smart electric vehicle industries, as well as a core manager involved in the early founding of FF. Prior to that, Mr. Mo Cuitian served as CMO of Letv Holdings Group and CEO of Asia Pacific, where he successfully helped Letv Holdings Group to expand into the United States, Chinese mainland, India, Hong Kong and global markets, including other Asia-Pacific regions.

Mr. Mo Cuitian was also a vice president of Meizu Technology Co., Ltd., responsible for the business development of Meizu smart devices in China and the world. Mr. Mo Cuitian has extensive experience in global marketing, brands, online and offline sales and Internet platform operation in the global consumer electronics, smart device and Internet industries. He has led his team to achieve good sales performance in the global market. He has created many miracles of smartphone and smart TV sales in India and Hong Kong in a very short period of time.

Mr. Mo Cuitian succeeds Mr. Ye Qing on the board of directors of the Company. This appointment is an important step in accordance with the latest shareholders' agreement signed by FFIE and FF Top recently and in accordance with the procedures set out in the revised relevant agreement between FFIE, FF Top and FFGP to submit to the annual general meeting for approval of the nomination of new directors. The company thanks Mr. Ye Qing for his outstanding contribution to the company as a member of the board of directors. Under the revised shareholders' Agreement, FF Top currently has the right to nominate four designated persons as candidates for board of directors, subject to the nomination procedures set out in the relevant agreements. Mr. Mo is the first candidate for director approved by the Election Committee. In accordance with the relevant agreement, the Board and the nomination and Corporate Governance Committee will recommend that shareholders and agents vote in favour of the nominated candidates for directors approved by the Board of Directors Election Committee at the 2023 annual general meeting.

CTOnews.com learned that FF expects to start mass production of FF 91 Futurist electric vehicles by the end of March 2023 and deliver them by the end of April, provided that funds are available in time and shareholders' approval to increase the number of authorized shares is obtained in time. The company continues to make progress on the final testing and verification of FF 91 Futurist through the Product and Technology Generation 2.0 (PT Gen 2.0) project.

FF recently announced the sixth milestone in manufacturing, that is, the completion of construction and equipment installation in the vehicle assembly area. This marks the completion of six of the seven manufacturing 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 January this year, FF announced the signing of a strategic cooperation agreement with Huanggang City, which will contribute their respective advantages in investment, scientific and technological innovation, industrial transformation, location and policies. Meanwhile, FF announced that it has signed a revised and restated shareholder agreement with FF Top, a wholly-owned subsidiary of FF Global, which strengthens FF Top's position as a significant shareholder. FF Top will have the super voting right at 1:10 and the right to nominate four of the seven directors of the board of directors.

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