Faraday Future Announces Appointment of Matthias Adyta as Global Chief Executive Officer

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) (“Faraday Future”, “FF” or “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced the Company’s Board of Directors has appointed long term FF executive Matthias Adyta, Global CEO of Faraday Future, effective September 29, 2023. Also effective September 29, 2023, current Global CEO Guofeng Chen (XF) will resume his prior position as FF China CEO, based in China and will take a new role as FF’s EVP of Global Industrialization.

Mr. Aydt will focus his efforts on boosting FF 91 2.0 Futurist Alliance production and deliveries. Mr. Chen will shift his attention to the launch of the FF 91 2.0 Futurist Alliance in China and focus on the next stage of developments, including the dual home markets of China and the United States. Mr. Chen will also focus on the implementation of the Company’s China business development plans including establishing FF China joint venture, accessing China automotive market, integrating the China supply chain, and ongoing costs reductions.

Mr. Aydt has been at FF for over seven years and was most recently in charge of Product Execution and was the Head of Product Definition & Mobility Ecosystems and Business Development in a previous role. Prior to joining FF, Mr. Aydt spent a number of years with automotive companies and OEM suppliers, leading teams within Project Management and Vehicle Engineering. Mr. Aydt has over 40 years of experience at luxury OEMs across manufacturing, technology and operations, including developing and growing multinational organizations, establishing cross-functional working environments, design and development processes, program-management processes, and simultaneous engineering processes. Mr. Aydt has also received over 15 registered patents during his career and is deeply committed to the Company, its employees, users, and investors in fulfilling the vision for a sustainable transportation future.

“FF is currently focusing on ramping up FF91 production and beginning to generate revenue, improvement of product and technology capabilities and the development of next-generation products including AI developments,” said Mr. Aydt. “I’m very excited for the new Global CEO role, and I’m confident that it will allow me to highlight my experience in product technology, research, and development for luxury car brands at global, world-class car companies and will provide tremendous value and leadership to FF.”

Mr. Chen was appointed Global CEO for his experience in industrialization, specially manufacturing and supply chain management. The Company believes that Mr. Chen accomplished this mission in an outstanding manner and contributed to the Company’s efforts in reaching key milestones that include the start of production and deliveries. The Company thanks Mr. Chen for his valuable contributions as Global CEO, and launching the FF 91 2.0 Futurist Alliance in the U.S. In addition, the Company recognizes his contributions as a member of the Board and his continued dedication as he moves on to his new roles.

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