Faraday Future Founder and Co-CEO, YT Jia, Shares Weekly Investor Update - Seite 2

With our B2B business gaining traction on both the East and West Coasts, the strong response from major clients, from the rental and car-sharing markets, has been a huge morale boost for us and for our strategic partners in the Bridge Strategy. The level of interest from U.S. users in AIEV models with extreme price-to-performance ratio like ours is even greater than we expected. We believe there’s tremendous potential in the four major blue ocean markets we’re targeting.”

“In addition, we saw initial success this week in our Counterattack Against Potentially Illegal Short Selling. We released an official update on the progress we’ve made in addressing potential illegal shorting and online manipulation targeting FFAI. An individual and related accounts involved have issued a public apology and removed all related content suspected of market manipulation. We will continue to take action to protect the rights of our stockholders. Any illegal attempts to harm FF or damage investor interests through illegal short selling will come at a cost.

Now that I’ve shared the good progress, I also want to talk about the areas where we’ve fallen short and need serious reflection. As I just showed you in the operational overview, despite the breakthroughs this week, there were still some tasks we didn’t complete, or that were delayed.

Why did this happen? In my view, the root cause lies in our company culture, organizational efficiency, and how we manage performance.
1. Strong performance can at times go unrecognized or unrewarded. And there are also times when mistakes go unaddressed.
2. Cross-cultural collaboration is still a major challenge.
3. A “Say No” culture still exists. Too often, when people hear about a new idea or task, their first response is to say “No,” instead of asking themselves, “How can I make this happen?”

This is not the FF culture we want. And we must make a change.
1. We are restarting our reward-and-accountability mechanism. Those who perform well should be strongly rewarded. Those who fall short must be held accountable. In fact, this week, we have already terminated, optimized, or restructured several senior management roles.
2. We are rebuilding our core values and company mindset. One that is goal-driven, execution-focused, and results-oriented.
3. In FF, different opinions are welcomed only with solutions to address the issues. This is where “execution with all your might” starts.

Looking ahead to next week, my focus will be on four key task streams within our S0–S7 company-level strategic roadmap:

S1: Building Our User Ecosystem
S1.1.1 We’re building out our user ecosystem, including a co-creation-based direct online sales model. This is all to prepare for the official launch of our FX Super One product and its first major official push to consumers. We’ve already started the internal countdown toward launch.

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