Faraday Future Appoints New CEO and Executive Chairman

Faraday Future announced a series of leadership and governance updates. The company's board of directors has acknowledged and appointed YT Jia as FF Global CEO and Jerry Wang as FF Global Executive Chairman. The board has also accepted the resignation of Matthias Aydt from his position as Global Co-CEO and appointed independent director Chad Chen as Lead Independent Director. "Aydt will temporarily continue to serve the company as an internal advisor, while a new role is being discussed separately with the company's management team," the company stated. "As of April 30, FF had shipped 68 EAI robots with positive gross margins and will continue accelerating production ramp-up in May, steadily progressing toward its first-season delivery target of 200 units by the end of June. The company expects cumulative shipments to exceed 1,000 units in 2026 and aims to turn its first-mover advantage as the first U.S. company to sell and deliver both humanoid and bionic robots, as well as the first to fully expand into the education market, into a sustainably leading momentum. Next week, the new management team will officially announce the upgraded five transformation initiatives evolved from the original "Ten-Punch Combo" transformations. This will be a declaration of strategic re-launch for the next phase, under the historical context of the founding team fully at the helm, the deepening implementation of the Dual-Engine Strategy, and the robotics business entering a critical growth phase. The company will take the founder's return as a new starting point, with the Dual-Engine Strategy serving as the central axis and 'Stockholders First' as its guiding principle, to drive the company toward rapidly crossing its operational inflection point, rebuilding confidence in the capital markets, and unlocking its true value - so that all long-term stockholders and users can truly share in the value they deserve," the company added.