Faraday Future Announces Plans to Upgrade FX Super One MPV to More Competitive 800V EV or Accelerate AIHER Hybrid Project with Bridge Strategy Partner as the Company Continues Strong Push in Parallel with Its EAI Robotics Business

LOS ANGELES--(BUSINESS WIRE)--May 6, 2026--

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future,” “FF” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, today announced that, based on strategic cooperation with its bridge strategy partner, the Company plans to upgrade the FX Super One to an 800V architecture or accelerate the AIHER project, while pausing the original Super One 400V cooperation project.

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This adjustment represents a proactive optimization and upgrade of the Company’s strategic execution. It is highly significant for the “EAI Robotics + EAI EV” Dual-Engine Strategy and is expected to accelerate the implementation of the overall strategy, more quickly form an operational closed loop, and unlock value across the entire Company.

First Batch of Mass-Production Super One Deliveries Will Be the More Competitive 800V BEV or AIHER Model, Creating Greater Value for Users

The Company believes that the 800V architecture model offers stronger product competitiveness and user value compared to the originally planned Super One 400V model. By adopting a “high-voltage, low-current” approach, the Company expects to fundamentally optimize the electrical architecture, delivering longer range, faster charging speeds, and superior powertrain efficiency. These are the core experiences U.S. users prioritize most for long-distance travel and daily driving.

In parallel, the Company is also advancing development of the AIHER model. As the world's first AI-driven extended-range plus hybrid fusion technology featuring a “strong extended-range, light hybrid” architecture, AIHER is expected to overcome the weaknesses of conventional hybrid and plug-in hybrid systems. It is particularly well-suited to extreme-cold winter regions such as the U.S. East Coast, demonstrating outstanding adaptability and energy efficiency.

Accordingly, the Company's goal is for the first batch of mass-production Super One deliveries to be either the 800V BEV or the AIHER model, in order to create greater value for users. Subject to securing financing from strategic or medium-to-long-term investors and sufficient to support mass-production deliveries, the Company will fully launch Super One mass-production deliveries.

The updated delivery timeline is as follows: once the necessary funding is in place, the Super One 800V BEV is expected to achieve its first phase of delivery within 6 to 9 months, second phase of delivery within 12 to 15 months, and third phase of delivery within 21 to 24 months; the AIHER hybrid model is expected to achieve its first phase of delivery within 9 to 12 months, second phase of delivery within 21 to 24 months, and third phase of delivery within 24 to 28 months.

Optimizing EAI Strategy Execution Cadence, Accelerating an Operational Closed Loop, and Putting Stockholders First

Although FF’s EAI Bridge Model has already enabled relatively asset-light operations, the EV business remains capital-intensive compared to the robotics business. Until the Company secures necessary funding from strategic or medium-to-long-term investors, it will continue to advance prudently in a manner that minimizes cost and investment, prioritizes efficiency, and maximizes stockholder value.

While this adjustment will affect the Super One delivery timeline, concentrating more resources in the robotics business during its critical ramp-up period is expected to substantially reduce near-term cash outflows, accelerate the formation of an operational closed loop, and lower financial risk. As a result, the Company expects to fundamentally move out of a high-risk position, move away from the highly dilutive convertible bond financing model, minimize share dilution, and maximize stockholder value.

The Company has also continued to advance discussions with potential strategic and medium-to-long-term investors, with feedback in recent weeks improving meaningfully relative to earlier periods. The Company recently successfully secured $45 million in financing from a U.S. mid-to-large institutional investor, reflecting capital markets’ growing recognition of and confidence in the “EAI Robotics + EAI EV” Dual-Engine Strategy, particularly the progress of the robotics business and the Bridge Model.

“Three-in-One” EAI Robotics Strategy Accelerates Deployment, Working to Convert First-Mover Advantage into a Sustainably Leading Position

FF's EAI Robotics business is rapidly entering scaled deployment and has been validated by both the education sector and the capital markets. This reflects the Company's first-mover advantage as the first U.S. company to deliver both humanoid and bionic robots and to comprehensively expand into the education market.

As of April 30, 2026, FF has shipped 68 EAI robots with a positive product gross margin. May shipments are expected to continue to accelerate as the Company progresses steadily toward its first delivery quarter target of 200 units. The Company expects cumulative shipments to exceed 1,000 units in 2026. More importantly, market recognition of FF's EAI Robotics strategy and execution continues to grow, laying the foundation for subsequent scaled deployment.

Through ongoing robot deliveries, ramp-up, and use case expansion, FF is building a self-reinforcing “Device-Data-Brain” business model, where scaled device deliveries and deployment drive data collection and training, which feeds the AI brain, which improves product capability, which accelerates sales and deployment, which generates more data, which advances an even smarter AI brain. Through this accelerating flywheel, FF aims to rapidly convert its first-delivery first-mover advantage in robotics into a sustainably leading position. Looking ahead, on the B2B education front, the Company will focus on advancing strategic partnerships and robot procurement agreements with the first batch of K-12 schools and universities, as well as EAI education summer camps and similar initiatives. On the B2C family education front, FF expects to accelerate execution of its strategy to bring education robots into households, continuing to drive the deployment of the first scaled EAI education system in the United States. Driven by the “EAI Robotics + EAI EV” Dual-Engine Strategy, the Company is entering a new phase of growth.

ABOUT FARADAY FUTURE

Faraday Future is a California-based global intelligent Company founded in 2014 and is dedicated to reshaping the future of mobility through vehicle electrification, intelligent technologies, and AI innovation. Its flagship vehicle, the FF 91, began deliveries in 2023 and reflects the brand's pursuit of ultra-luxury, cutting-edge technology, and high performance. FF's second brand, FX, targets the high-volume mainstream vehicle market. Its first model, Super One, is positioned as a first-class EAI-MPV, with deliveries planned to begin in 2026. FF recently announced its entry into the Embodied AI Robotics business with sales beginning this year, connecting its future strategy of bringing a new era of EAI vehicles and EAI robotics. For more information, please visit https://www.ff.com/.

FORWARD LOOKING STATEMENTS

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "plan to," "can," "will," "should," "future," "potential," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FX Super One production and delivery, the Company's EAI robotics business, and future financings, involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

Important factors, among others, that may affect actual results or outcomes include, among others: the Company's ability to maintain its listing on Nasdaq; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company's share capital, which could result in substantial additional dilution; the Company's ability to homologate FX vehicles for sale; the Company's ability to secure the necessary funding to execute on the FX strategy, which will be substantial; demand for the Super One; demand for the Company's robotics products; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; the Company's reliance on a single OEM for most of its robotics products; the Company's ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; tariff uncertainty for imported products, particularly from China; the ability of the U.S. Department of Commerce to review, condition, or prohibit robotics-related transactions with a China OEM; demand from automobile dealers for robotics products; the Company’s ability to maintain its listing on Nasdaq; the Company’s ability to timely regain compliance with Nasdaq’s $1.00 minimum bid price requirement; that the Company’s common stock will be suspended from trading on Nasdaq if the closing price of its Class A common stock is $0.10 or less for 10 consecutive trading days; the availability of sufficient share capital to execute on its strategy, which the Company currently lacks; the agreement of stockholders to substantially increase the Company’s share capital, which could result in substantial additional dilution; the ability to secure the necessary agreements to upgrade the Super One to an 800V architecture or to develop the AIHER model, none of which have been finalized; the Company's ability to design and develop AIHER technology; the Company’s ability to secure financing for the 800V architecture of the Super One; the Company's ability to secure an occupancy certificate for its Hanford facility; the Company's ability to continue as a going concern and improve its liquidity and financial position; the Company's ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company's limited operating history and the significant barriers to growth it faces; the Company's history of losses and expectation of continued losses; the success of the Company's payroll expense reduction plan; the Company's ability to execute on its plans to develop and market its vehicles and robots and the timing of these development programs; the Company's estimates of the size of the markets for its vehicles and robots and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company's vehicles; the Company's ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company's vehicles; current and potential litigation involving the Company; the Company's ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company's indebtedness; the Company's ability to use its "at-the-market" program; insurance coverage; general economic and market conditions impacting demand for the Company's products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company's dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company's stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of the Company's Form 10-K for the year ended December 31, 2025 filed with the SEC on March 31, 2026, and other documents filed by the Company from time to time with the SEC.

Faraday Future Announces Plans to Upgrade FX Super One MPV to More Competitive 800V EV or Accelerate AIHER Hybrid Project with Bridge Strategy Partner as the Company Continues Strong Push in Parallel with Its EAI Robotics Business

WASHINGTON (AP) — The Trump administration's approach to the Iran war over the past 24 hours has pinballed from declarations that a tenuous ceasefire was holding and military operations were over to new threats of bombing the Islamic Republic.

Tuesday started with Defense Secretary Pete Hegseth explaining how the U.S. military was protecting stranded ships so they could traverse the Strait of Hormuz. He insisted it was a defensive operation and the truce was still in place even though Iran had launched missiles and drones at U.S. forces, which sank Tehran’s small attack boats.

That afternoon, Secretary of State Marco Rubio told reporters at the White House that the military operation was “concluded” and that the U.S. achieved its objectives. But in almost the same breath, he said President Donald Trump was still seeking a “path of peace” that required Iran to agree to a deal to reopen the vital oil shipping corridor.

By Tuesday evening, Trump announced that the effort to protect ships was paused to see if an agreement could be reached. Then on Wednesday morning, he again warned that bombing would resume if Tehran didn't agree to U.S. terms.

The Trump administration’s shifting and often contradictory messaging throughout the Iran war has produced ever more confusion this week as the president and his aides presented a dizzying narrative over the U.S. strategy to unblock the Strait of Hormuz and wrap up the war that drastically changed over the course of mere hours.

Administration officials have been trying to walk a fine line between maintaining the ceasefire and reopening the strait, where 20% of the world’s oil normally flows. The economic fallout is growing as fuel prices rise, with Republicans facing increasing pressure to find solutions to higher costs ahead of the midterm congressional elections.

The Trump administration has struggled with its messaging because the war wasn't well planned, said Elizabeth Dent, a senior fellow at the Washington Institute for Near East Policy.

“Because it happened very quickly, it wasn’t sold to the American public in a way that I think was palatable,” said Dent, a former official in the State Department and Pentagon. “Now I think Trump is sort of doing everything he can to prevent a return of hostilities because he saw how unpopular the war was.”

Throughout the conflict, the president has shifted his priorities and his perspectives on victory. He's offered a murky definition of a ceasefire. And he's provided his own interpretation of a law that requires congressional approval for military operations after 60 days.

The confusion is fueled in part by Trump’s tendency to make off-the-cuff statements that essentially make policy, Dent said. Aides like Rubio and Hegseth must then explain Trump's statements.

The whirlwind 24 hours of decision-making by the Trump administration also reflects a realization that any alternative to an agreement “is going to range from unpalatable to outright ugly” at a moment of great political importance for the Republican president, said Ali Vaez, Iran director at the International Crisis Group.

“This is not an administration that operates based on a policy process. It operates based on impulse. And the president seems now both tired of this war and reluctant to continue investing his political capital into it,” Vaez said.

The last couple of days have been emblematic of how the Trump administration's statements can seem out of sync and hard to follow.

The president said Sunday that U.S. forces would safely guide hundreds of stranded commercial vessels out of the strait, which Iran has effectively closed by firing at ships off its coast.

On Tuesday, Hegseth and the chairman of the Joint Chiefs of Staff, Gen. Dan Caine, said two American-flagged freighters transited the waterway to lead the effort, but Iran fired at U.S. ships and the military sank six Iranian small attack boats.

When asked about the fire from both sides, Hegseth said, “No, the ceasefire is not over.” Caine also said Iranian attacks did not reach the level of “restarting major combat operations.”

Rubio later insisted Trump's preference was diplomacy.

“Operation Epic Fury is concluded. We achieved the objectives of that operation,” he said, referring to the code name for the U.S.-Israeli attacks on Iran. “What the president would prefer is a deal.”

A deal seemed closer at hand when Trump said Tuesday night on social media that he was halting the operation in the strait to see what would happen with negotiations. But on Wednesday morning, Trump threatened Iran once again.

“If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before,” he wrote on Truth Social.

The U.S. military said Wednesday that it shot at and disabled an Iranian oil tanker as it tried to breach the blockade of Iran’s shipping.

Another confusing element is the administration's efforts to persuade allies to deploy warships to help reopen the Strait of Hormuz.

Trump has been lashing out at countries unwilling to do more, telling them to “go get your own oil” and saying it was not America’s job to secure the strait. But administration officials have begun actively soliciting help while toning down their language.

Rubio said the issue is not a lack of interest, but that many are unable to provide the necessary resources.

“A lot of countries would love to do something about it. But they don’t have a navy, right? Or they can’t get there in time,” he said.

After Trump's abrupt suspension of the initiative, two U.S. officials said the administration was still deciding whether, and how, to proceed with planning, following the State Department’s formal request for support from countries last week.

The officials, who spoke on Wednesday on condition of anonymity to discuss internal deliberations, said Trump’s announcement had not been expected and that they had not been offered detailed guidance on whether to withdraw the requests for support.

U.S. allies like Britain and France have rejected on-again, off-again suggestions from Trump that they become militarily involved, but they have led the formation of a separate international maritime coalition to secure the strait — but only once the threat to shipping ends. France’s aircraft carrier strike group is moving south of the Suez Canal and into the Red Sea in preparation for a potential French-British mission in the strait.

The issue only has been more complicated by Trump’s trip to Beijing next week.

“Going to China while the strait remains closed is humiliating for President Trump and puts China in a position of strength vis-a-vis the United States, because President Trump would have to, as he has done recently, ask for China’s help to resolve a problem that didn’t exist before he launched a war,” Vaez said.

Amiri reported from New York.

Secretary of State Marco Rubio speaks during a press briefing in the James Brady Press Briefing Room at the White House in Washington, Tuesday, May 5, 2026. (AP Photo/Mark Schiefelbein)