Faraday Future Acknowledged and Appointed YT Jia as Sole Global CEO and Jerry Wang Appointed Global Executive Chairman; FF to Announce Upgraded Transformation Initiatives Next Week to Begin a New Growth Chapter as a Physical AI Company

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future,” “FF” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today announced a series of leadership and governance updates. The Company’s Board of Directors has acknowledged and appointed YT Jia as FF Global CEO and Jerry Wang as FF Global Executive Chairman. The Board has also accepted the resignation of Matthias Aydt from his position as Global Co-CEO and appointed independent director Chad Chen as Lead Independent Director. Mr. Aydt will temporarily continue to serve the Company as an internal advisor, while a new role is being discussed separately with the Company’s management team. The Company sincerely thanks Mr. Aydt for his years of dedication and contributions to FF.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260510044551/en/

Faraday Future Marks the Return of Its Founding Team: YT Jia Acknowledged and Appointed as Sole Global CEO and Jerry Wang Appointed Global Executive Chairman; FF to Announce Upgraded Transformation Initiatives Next Week to Begin a New Growth Chapter as a Physical AI Company

The above appointments and changes became effective on May 5, 2026.

As Global CEO, Mr. Jia will oversee Product, EAI R&D, Supply Chain, Manufacturing, Quality, UES, VLE and other business areas. He will jointly oversee Strategy, Capital Markets & Investor Relations, Human Resources, Corporate Operations and AI IT, as well as subsidiaries and regional entities, together with Mr. Wang. Mr. Wang will directly oversee four core corporate functions: Finance, Legal, Government Affairs & Strategic Cooperation, and Risk Management.

“I would like to thank the Company and the Board for their trust,” said YT. “FF will officially evolve into a U.S.-based Physical AI ecosystem company, focusing on two product engines within its EAI robotics business: EAI humanoid and bionic robots, and EAI automotive robots. By building a Three-in-One ecosystem consisting of Device, Data, and Brain & Open-Source and Open Platform, FF aims to create an evolutionary flywheel of ‘scaled device delivery, data collection and training, continuous evolution of the EAI Brain, stronger product capability, and larger-scale delivery,’ with the goal of maximizing commercial value.”

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