November 17, 2025 — Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Global Co-CEO of FF.
In the update, Jia highlighted several key developments, including QLGN, strategically invested in and controlled by FFAI, which held its stockholders meeting on November 12. All proposals were approved with strong support, leading to FFAI becoming the majority and controlling stockholder of QLGN, with an initial direct ownership of about 55%. Including related parties Jerry Wang and YT Jia, the ownership is about 63% in total, with FFAI also holding a majority of board seats.
On November 20, 2025, QLGN will begin using its new name, AIxCrypto, and its stock ticker will be changed to AIXC. The company will host a renaming and strategy launch event at the Nasdaq exchange, where it will also announce the full board list. Jia believes these developments mark the completion of the mutually empowering Dual Flywheel structure with two listed companies, with AIXC potentially bringing meaningful empowerment and strategic value back to FFAI.
Additionally, Faraday Future announced that FF and FX models will adopt the North American Charging System (NACS) for its future models, giving future FF and FX vehicles, under license from Tesla, direct access to Tesla’s Supercharger network, expanding infrastructure availability for users.
Regarding EAI Flywheel progress, FX Super One B2B sales momentum continues to build. FX signed a non-binding non-refundable pre-order agreement for 100 units of Super One with the California Hanlin Entrepreneurs Association and has already received the $10,000 non-refundable deposit, demonstrating strong recognition from business leaders and high-net-worth user groups.
The first batch of complete FX Super One parts has departed the Port of Shanghai and is expected to arrive at the Port of Long Beach around the end of November. After completing customs clearance and related procedures, the parts will be delivered to the Hanford plant, marking the official start of the pre-production trial-build phase, with the goal of achieving the first pre-production vehicle off the line by the end of this year.
FF held its Q3 earnings call, addressing investor questions about the size of the loss. Jia explained that a conservative one-time realignment of asset values, based on updated operational plans, resulted in an impairment amount of about $138 million, accounting for roughly 67% of the total loss of a little over $206 million. Excluding this factor, the operating loss was $68 million. FF achieved financing inflow greater than operating outflow for the sixth consecutive quarter, ending the third quarter with the highest cash balance in nearly two years.
The FX Super One is planned to be delivered on November 27 to its first global owner, Co-Creation Officer, and soccer legend Andrés Iniesta, officially opening the EAI MPV era in the UAE market.
The Q3 report marks the first time FF prepared consolidated financial statements for two public companies, increasing the workload and complexity. The company expects to file its Form 10-Q within the required compliance window, no later than November 19, and is seeking finance professionals with experience in multi-entity listed groups to enhance financial reporting and governance standards.
FF and FX will participate in the Los Angeles Auto Show, inviting attendees to visit the LA Convention Center over the next two weekends to experience the First Class EAI-MPV.
Investor Relations (English): steven.park@ff.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
Source: Faraday Future
