Faraday Future Intelligent Electric Inc. (Nasdaq: FFAI) (“FF”, “Faraday Future”, or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, timely filed its 2024 Annual Report on Form 10-K before market open today, providing a comprehensive overview of its financial and operational performance. The report highlights the Company’s key financial metrics, business operations and strategic initiatives. FF also just delivered the first FF 91 2.0 Futurist Alliance in the East Coast market and reaffirmed the Company’s commitment to the region.
Jerry Wang will also participate and be a guest speaker at the Jones Las Vegas Technology and Innovation Conference in April 2025, hosted by Jones Trading. The conference will bring together a select group of innovative companies and institutional investors for a two-day event. The conference will feature keynote addresses from Dr. Charity Dean, CEO of PHC Global, and Eric F. Trump, Executive Vice President of The Trump Organization.
Highlights from 10-K filing
Overall, FF saw improved financial stability in the second half of 2024 and beyond. In both Q3 and Q4 of 2024, total cash inflows exceeded operating cash outflows. This positive cash flow dynamic, combined with a 75% year-over-year reduction in operating cash burn and meaningful cost reductions across R&D and SG&A, reflects the tangible progress FF has made in aligning cost structure with operational priorities, while positioning it for long-term scalability and financial resilience.
The second half of 2024 was also highlighted by the securing of two rounds of funding commitments in September and December 2024, which helps support its FF and FX strategic developments. FF also made significant progress in FX product development with two prototype mules shipped to the U.S. in November 2024, and the recent change of its ticker symbol to “FFAI” reflecting its focus on AI technology.
All class action and derivative action lawsuits against the Company have been dismissed. A California putative class action lawsuit against the Company was settled in March 2024, and in February 2025, a consolidated Delaware class action lawsuit against the Company was dismissed with prejudice in its entirety. Furthermore, all putative derivative lawsuits against the Company were dismissed at various times in 2024.
Looking forward, 2025 will be a pivotal year for FF. With a strong focus on driving technological innovation, and maintaining financial discipline, the Company is positioning itself for long-term growth and success in the EV market. And above all, fighting to enhance stockholder value for both institutional and retail investors.
SOURCE: Faraday Future
