“Welcome to the 23rd issue of our Weekly Report. Let’s start with a major piece of positive news over the weekend: the Trump administration is reportedly considering a significant tariff reduction for the major automobile producers in the United States, if they produce or assemble their cars in the United States. If implemented, this policy would bring tangible benefits to the U.S. advanced manufacturing and automotive industries. It would not only ease cost pressures for domestic manufacturers but also send a clear signal of America’s strong commitment to supporting local innovation and manufacturing.
For FF and FX, it could be of great significance: First, it would bring more flexibility to the pricing and profitability model of FX Super One and other products in the North American market; second, it would be tantamount to a vote of confidence in the U.S. automotive industry and could further enhance the confidence of the capital market and partners in the long-term development of FF and FX. Our Government Relations team has been actively engaging in constructive dialogue since the Trump administration imposed higher tariffs in April this year. We believe tariff reduction should be the right direction for both industrial development and policy guidance.
Here's how the week progressed:
On EAI Flywheel, S2-4 Product & Technology, Supply Chain, Production & Delivery:
After multiple rounds of discussions, reviews, and alignment, we have finalized the U.S. production assembly plan for FX Super One. Our bridge partners and supply chain collaborators will now commence component supply for the production assembly phase, as the entire team pushes toward the milestone of rolling out the first U.S.-version FX Super One by year-end. This marks not only a critical milestone toward achieving our target but also one of the most essential components in the entire mass-production system. The production assembly plan will have a major impact on vehicle delivery cost and efficiency and will play a decisive role in driving cost optimization and operational efficiency across the product’s full lifecycle. Based on the finalized plan, we are confident in the potential of the FX Super One.
At the same time, as one of the most complex phases in executing the Bridge Strategy, the component supply system has also reached its initial completion. We extend our sincere appreciation to the entire FX team for their dedicated efforts and to our bridge partners for their strong support.
Beyond finalizing the production assembly plan, Super One has also been undergoing ongoing testing, development, and validation in both the U.S. and UAE. With the UAE final launch set for October 28 and deliveries commencing as early as November, our global teams are working intensively to support the regional operation in completing all pre-launch preparations. This week, validation of key third-party applications for the UAE version of Super One was successfully completed.
On S6 Middle East:
This week, FF was invited to participate in WETEX 2025 in the Middle East. Both the FF 91 and FX Super One were showcased, receiving high praise and strong purchase interest from members of the UAE and Dubai royal families as well as senior government officials. This was not only a product showcase, but also a demonstration of our systematic solutions for future mobility, energy, and sustainability. It marks a solid step forward in our strategic third pole in the Middle East.
Going to S7, Capability and System Build-Up:
Three new leaders recently joined FF - Deputy GC, Head of IR, and Head of Finance. Their arrival will further strengthen our expertise in legal affairs, capital markets communication, and financial management.
Now let’s look at the Crypto flywheel:
This week, we successfully closed a strategic investment in Nasdaq-listed QLGN. Based on the closing price on the day of transaction closing, FF’s $30M investment in QLGN reflected a nearly 140% unrealized gain. If approved at the stockholders’ meeting, QLGN will be rebranded as CXC10 and is expected to officially launch its new Crypto and Web3 business. The CXC10 company is expected to focus on six core products under the “Three Growth Engines.” The C10 Treasury from the first Growth Engine—C10, is expected to begin asset allocation on the Top 10 crypto coins next week.
As Chief Advisor, I will provide comprehensive consultation to the board of CXC10, and support and empower the team and the company, particularly in the areas of product, AI, user ecosystem development, strategy, HR, and corporate AI management system. Globally, this week’s surge in Crypto markets and the excitement of Token2049 once again validated the forward-looking nature of our Dual Flywheel & Dual Bridge Eco-Strategy. The meta-chemistry of Web2 and Web3 is not only about the convergence of software and hardware, virtual and physical, but also about the convergence of financial ecosystems and mobility ecosystems, artificial intelligence and Crypto. I believe this could unlock greater value creation for FFAI.
Finally, our issues, reflections, and solutions over the week.
Last week, one of our satellite office buildings at HQ experienced a fire incident. Fortunately, no one was injured. Nevertheless, this incident serves as a reminder for FF’s facility fire prevention efforts. We will make necessary improvements and adjustments to further strengthen our safety system and eliminate potential risks.
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/
