- This ‘FX’ Global Logo Co-Creation Initiative Contest follows the Sept. 19 FX event where Faraday Future officially kicked off its dual-brand strategy by announcing its second brand, Faraday X (FX), and its launch plan for the first batch of planned products.
- The new FX logo design should encompass the philosophy ‘Co-Create, an AIEV for Everyone’ and capture the essence of FF’s second brand.
- One Grand Prize winner will receive an offer for an FX Co-Creation Contract, valued at $30,000.
Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”, “Faraday Future”, or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced its ‘FX’ Global Logo Co-Creation Design Contest. The Company is asking all interested creators to submit their ideas for a new ‘FX’ Logo design. All new brands need a logo, and much like the unique and well-received FF logo, FX needs a new logo as well – one that is unique and inspired by the genesis of the FX brand. So today, in the spirit of co-creation and sharing, we invite you to join FF in setting another industry standard for logo design.
The contest will be open for submissions until November 22, 2024, at 5:00 PM Pacific Time and is open to any person who has reached 18 years of age in any country or region, except where prohibited by law. One Grand Prize winner will receive an offer for an FX Co-Creation contract, valued at $30,000. The Grand Prize Winner is also subjected to provide further design-related counselor services for the FX Brand.
Creators can submit their official logo design ideas here:FXLogo@ff.com
On September 19, the Company officially kicked off its dual-brand strategy by announcing its second brand, FX, and its launch plan for the first batch of planned products, including innovative ways in creating AIEV (Artificial Intelligence Electric Vehicle) products with “twice the performance at half the price” for our future users.
The brand slogan for Faraday X is: Co-create, an AIEV for Everyone. The inspiration for the FX brand is deeply rooted in FF's unique genes, and it also perfectly reflects the logic of the math function, y = f(x), where x is the independent variable, f represents the corresponding rules, and y represents the final outcome.
For the FX brand, X represents our users, partners, the industry, and all the more limitless possibilities. F not only stands for FF, but also for the mutually empowering, open-source collaboration between FF and the “X” as we co-create value. This synergy between F and X will bring out phenomenal products, generating rewards that everyone can share.
The first anticipated FX models, the FX 5 (expected price range of $20,000-$30,000) and FX 6 (expected price range of $30,000-$50,000), are expected to offer two types of powertrains: range-extended AIEV and battery-electric AIEV, with a planned target to roll off the assembly line by the end of 2025, subject to securing necessary funding.
For more detailed information on the FX brand, to help with your Logo design ideas, please visit:https://app-us.ff.com/ff-v3/news/841?lang=en-US
Awards for FX Logo Submissions:
Grand Prize: One winner will receive an offer for an FX Co-Creation contract, valued at $30,000. The Grand Prize Winner is also subjected to provide further design-related counselor services for the Faraday X Brand. All terms and conditions of the Co-Creation contract, including the scope of services and payment schedule, will be outlined in a separate agreement. Acceptance of the agreement must be made within 15 days or the offer will be withdrawn.
Finalist Awards: Fifteen winners will receive an FX-branded swag package.
Submission Awards: All U.S.-based contestants who successfully submit a qualifying design will receive a voucher valued at $100, redeemable toward the reservation of an FX vehicle. The voucher is non-transferable, non-refundable, and has no cash value. It can only be applied to the reservation of an FX vehicle, subject to availability and the terms and conditions of the vehicle reservation process.
Complete contest rules, terms and conditions can be found here: https://app-us.ff.com/ff-v3/news/872?lang=en-US
ABOUT FARADAY FUTURE
Faraday Future is the pioneer of the Ultimate AI TechLuxury ultra spire market in the intelligent EV era, and the disruptor of the traditional ultra-luxury car civilization epitomized by Ferrari and Maybach. FF is not just an EV Company, but also a software-driven intelligent internet Company. Ultimately FF aims to become a User Company by offering a shared intelligent mobility ecosystem. FF remains dedicated to advancing electric vehicle technology to meet the evolving needs and preferences of users worldwide, driven by a pursuit of intelligent and AI-driven mobility.
FORWARD LOOKING STATEMENTS
This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding a second brand (FX), are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.
Important factors, among others, that may affect actual results or outcomes include, among others: the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the FX strategy is subject to numerous risks and uncertainties; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on May 28, 2024, as amended on May 30, 2024, and June 24, 2024, as updated by the “Risk Factors” section of the Company’s first quarter 2024 Form 10-Q filed with the SEC on July 30, 2024, and other documents filed by the Company from time to time with the SEC.
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