Faraday Future Announces Joint Development Agreement With Philips

• Forming a Working Collaboration to Develop and Showcase Health and Well-being Features in Future Vehicles
• Agreement Recognizes Faraday Future’s Founding Vision to Create a Mobility Ecosystem Built Upon Innovation and Technology

LOS ANGELES--(BUSINESS WIRE)--Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, today announced a joint development agreement with Philips Intellectual Property & Standards to collaborate and showcase vehicle features that use a select set of Philips technologies. Philips’ health technology and software add significant differentiators to FF’s product vision and its upcoming FF 91 and FF 81 luxury electric vehicles.

The collaboration represents a commitment between both companies to explore the feasibility of applying Philips technologies for automotive use cases related to users’ wellness monitoring. Philips will provide its vast knowledge of expertise in this area and together with FF will integrate technologies accordingly in FF’s vehicles and ultimately demonstrate the benefits to its users.

“We are thrilled to have the opportunity to work with Philips, a proven global leader in intellectual property in several health technology areas, including the automotive wellness space,” said Shyam Sundar, Sr. Director, I.A.I Product & Business Development at Faraday Future. “At FF, we are working with leading-edge technology partners to advance our technological innovations, and we look forward to our relationship with Philips as we push towards our vision of future mobility.”

FF continuously strives to incorporate new ideas to improve vehicle performance, reliability, safety, and user-focused features in FF’s overall design ideology. From expressive aerodynamic exteriors to thoughtfully improved and driver-focused technologies, our talented engineers and designers embrace this vision and pursue exciting new approaches to remedy long-standing issues in the traditional automotive industry.

According to FF’s production launch plan, FF 91 will kick off production approximately nine months following the closing of a successful round of funding. The newly announced FF 81 EV and development preparation for future models and next-generation core technologies will follow the introduction of FF 91.

ABOUT FARADAY FUTURE

Established in May 2014, Faraday Future (FF) is a California-based global shared intelligent mobility ecosystem company, headquartered in Los Angeles. FF's vision is to create a shared intelligent mobility ecosystem that empowers everyone to move, connect, breathe, and live freely. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the internet and new usership models. With the FF 91, FF has envisioned a vehicle that redefines transportation, mobility, and connectivity, creating a true “third internet living space,” complementing users’ home and smartphone internet experience.

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FORWARD LOOKING STATEMENTS

This communication contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used herein, words such as “address,” “anticipate,” “believe,” “consider,” “continue,” “develop,” “estimate,” “expect,” “further,” “goal,” “intend,” “may,” “plan,” “potential,” “project,” “seek,” “should,” “target,” “will,” and variations of such words and similar expressions as they relate to FF or the proposed transactions are often used to identify such statements as “forward-looking statements.” Such statements reflect the current views of FF and its management with respect to future events, including the proposed transactions, and are subject to certain risks and uncertainties that may cause actual results to differ materially from the results expressed in, or implied by, these forward-looking statements.