Faraday Future Appoints Zvi Glasman as New Chief Financial Officer

Veteran Financial Executive to Lead All of Faraday Future’s Corporate Finance, Investor Relations, Capital Management Strategies and Growth Initiatives

LOS ANGELES--(BUSINESS WIRE)--Faraday Future (FF), a California-based global shared intelligent mobility ecosystem company, announced today the appointment of finance veteran executive Zvi Glasman as its Chief Financial Officer (CFO). Effective immediately, Glasman will serve as a key member of the leadership team of FF, leading corporate finance, investor relations, and capital management, as well as serving as a member of various key business committees within FF.

Reporting to Global CEO Carsten Breitfeld, Glasman comes to FF with over 30 years of professional experience and nearly 20 years of CFO experience. Glasman has a proven track record of developing and executing financial strategies and operational initiatives supporting rapid growth and increased profitability. His diverse background in financial management will help secure a sustainable path forward for FF in the global marketplace.

“I am very excited to join the FF team,” said Glasman. “I believe the potential for growth and value creation is tremendous, given the world-class management team, unique product line and strong technology. Having played a leadership role in similar business situations, I am confident that we can develop and execute plans to disrupt the electric vehicle (EV) industry. I look forward to becoming part of the FF family and partnering with the team to build the business.”

Upon his appointment as FF’s Global CEO in 2019, Dr. Carsten Breitfeld stated that personnel changes would be part of a series of key adjustments at FF, including strengthening the management team, accelerating product delivery planning and R&D, implementing operational cost reductions, and most importantly, fundraising and strengthening FF’s financing strategy.

“The onboarding of key critical talents, especially top industry leaders like Zvi are vital to the success of FF’s next stage of product delivery and funding,” said Dr. Breitfeld. “Zvi will bring fresh ideas and a wealth of financial experience to FF that will expand critical investor relationships to help grow the company as FF establishes a strong presence in the global EV marketplace.”

Prior to joining FF, Glasman most recently spent the past 12 years as CFO of FOX Factory Holdings (NASDAQ “FOXF”), a $4.5 billion public company. While there, he led the company’s initial public offering and several secondary offerings. He also was a key member of the management team that effectively executed growth and operational improvement strategies at FOX that resulted in the stock nearly quintupling and sales revenues growing at a compound annual rate of approximately 19%.

Glasman has held various senior financial roles at public and privately held companies. Prior to his tenure at FOX, Glasman served as CFO of three private equity backed companies and led the highly successful sales of two of those companies.

Glasman earned a Bachelor of Science degree from The Pennsylvania State University and obtained his CPA certificate from the State of California.

According to FF’s production launch plan, FF’s flagship vehicle – FF 91 – will start sales approximately twelve months following the close of a successful round of funding. The 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 global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. 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 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 expectations and timing related to commercial product launches, 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.