Weekly Report 042| FF EAI Bridge Strategy Gains Support from Top Chinese Automakers and Supply Chain, FX Super One Holds Full Prospect Intellectual Property
(Source: ff.com )
Hello everyone, first of all, Happy New Year! I wish everyone a leading role and great success in the Year of the Horse!
On this festive day, I'd like to share something that brings me and my family great joy. The night before recording this weekly report, around 9 PM, I had just gotten off work and started driving when I suddenly received a call from my child. He told me he was so excited his hands were shaking. He had just received a graduate school offer from Harvard for CS and AI, which made me incredibly proud. My child is independent and ambitious, making me very proud. I hope one day he can contribute to the EAI industry and society like his alumni Bill Gates and Mark Zuckerberg. This is probably the best gift I received for the Spring Festival.
It's a great thing that my child is doing well in his studies, but my other 'child,' FFAI, brings me mixed feelings of joy and worry.
The joy comes from the signing of the bridge cooperation upgrade agreement last week. Industry partners have also recently affirmed and supported the progress of our Super One project in a video interview. With the deep cooperation and strong support from China's top automakers and supply chains, we firmly believe the Super One project will succeed, and this bridge will be operational soon. I believe anything that creates a win-win situation for the Sino-US automotive industry and promotes the global expansion of China's automotive supply chain is worth doing.
Additionally, I want to emphasize that this series of contracts for Super One are standard contracts with full forward-looking intellectual property attributes. We own all forward-looking IP for FX Super One, meaning all product changes compliant with US regulations and new IP developed from software and AI technology enhancements belong to FF. This will be a huge asset for the company.
At the same time, I'd like to add a few more words. In the US, vehicle compliance certification is the world's highest standard, a strict and complex process that takes longer. Furthermore, Super One is a mass-production model, making quality control and quality even more important. I hope everyone can give us a bit more patience and time. We will definitely deliver a product that satisfies users and even exceeds expectations.
The worry is that FF's capital market performance has been poor in recent months, affecting investor returns. Simultaneously, investors' lack of understanding or even disapproval of our strategic upgrade is what causes me the most anxiety. We have already conducted very deep reflection.
Although I know it's not suitable to discuss heavy topics during the holidays, out of a sense of responsibility to the company and investors, I hope our mistakes and reflections can stay in the past year. In the new year, we will fully commit to executing our error-correction and improvement plan.
Root cause reflection: While the EAI vehicle business had not yet achieved mass delivery and the operational foundation still needed further consolidation, launching the AIXC new strategy and new business last year caused investors to worry about our lack of strategic and resource focus, a concern that persists to this day.
At the same time, as the robotics industry is still in its early stages, and we launched robotics products before Super One achieved mass delivery, even though many have expressed recognition for our "EAI Vehicle + EAI Robot" dual-engine strategy announced earlier this month, it still caused misunderstanding and concern among some investors.
Another specific point of reflection: We focused almost all our energy on business advancement, while our efforts to combat illegal short selling were insufficient. We failed to promptly stop the spread of false information and other illegal activities, leading many investors to be misled and suffer losses.
Through this round of deep reflection and review, we will next launch error-correction and improvement plans for AIxC and EAI robots, returning FF to strategic and business focus. We will detail the specific measures in next week's report.
Simultaneously, we will continue to take a series of measures to strengthen the crackdown on illegal short selling. Recently, we have identified several potential illegal short sellers and have already begun collecting evidence. We will make an external announcement after taking concrete action.
In the Year of the Horse, we will go full throttle, relentlessly focus on delivery, and strive to maximize shareholder and investor interests as soon as possible. Finally, thank you again for your long-standing support and trust. We will keep working hard until we succeed.
$Faraday Future Intelligent Electric(FFAI.US)
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