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Faraday Future Appoints Dr. Carsten Breitfeld as Global Chief Executive Officer

  • AUTO INDUSTRY VETERAN BRINGS A PROVEN TRACK RECORD OF LEADERSHIP AND INNOVATION
  • DR. BREITFELD TO FOCUS ON DEVELOPING INDUSTRY-LEADING TECHNOLOGY AND PRODUCTS AND ONGOING FUNDRAISING EFFORTS
  • FF FOUNDER YT JIA RESIGNS FROM CEO POST TO ASSUME ROLE OF CPUO (CHIEF PRODUCT & USER OFFICER)
  • DR. BREITFELD AND YT JIA TO ESTABLISH A STRONGER GLOBAL TEAM ACROSS PRODUCT, TECHNOLOGY AND MANAGEMENT

LOS ANGELES, Sept. 03, 2019 (GLOBE NEWSWIRE) -- Faraday Future (FF), a California-based global shared intelligent mobility company, today announced the appointment of Dr. Carsten Breitfeld as Global CEO. YT Jia, FF’s founder, will step down from the CEO position to assume the role of CPUO (Chief Product & User Officer). Leveraging Dr. Breitfeld’s experience in the automotive and EV fields and YT’s vision and experience in internet, consumer electronics, artificial intelligence (AI) and user operations, FF is poised to form a strong alliance between leading professionals to accomplish its long-term strategic goals. 

Dr. Breitfeld, an auto industry veteran, is a world-renowned expert in electric mobility. He has a Ph.D. in mechanical engineering from the University of Hannover and as a part of his 20-year career at BMW, he led BMW’s i8 vehicle program as group vice president. This program delivered the revolutionary i8 luxury plug-in hybrid to global markets. He is also a stellar entrepreneur who co-founded and served as Chairman and CEO of BYTON. With his deep industry expertise, Dr. Breitfeld will lead FF in developing industry-leading, forward-looking technology and products, and enhancing organizational efficiencies and competencies, as well as accelerating ongoing fund-raising activities. Dr. Breitfeld will take on the executive leadership of FF as it begins production of the company’s ultra-luxury FF 91 electric vehicle and will manage the final development of the FF 81 mass market electric vehicle.

“I am thrilled to accept the role of CEO and look forward to powering FF to its next stage of success,” said Dr. Breitfeld. “One of the main reasons I joined FF was YT and his vision for how the mobility eco-system will transform the industry, and FF’s industry-leading products and technology, as well as their recently-implemented global partnership program.

 “YT and I have known each other for a number of years and have discussed me joining the company in the past. I appreciate his entrepreneurial spirit and admire his vision of successfully predicting the future mobility ecosystem. Being an entrepreneur myself, I feel that I am in a better position to understand his unremitting efforts and contributions in pursuing his dream,” Dr. Breitfeld added.

“FF has made amazing innovations in the fields of traditional electric vehicles, IOV, AI, and the mobility ecosystem.  FF also has formed its unique competitiveness in business models and user ecosystem innovations,” added Dr. Breitfeld. “I have been extremely impressed with the steady progress the company has made on the flagship FF 91. It was when I saw the product, the innovative technology and the many dedicated employees that make up FF that it was clear to me that FF is setting a new standard for intelligent mobility and that I needed to be a part of it. I relish the opportunity to partner with YT, expand upon the vision and forward-thinking that YT started with FF and bring this groundbreaking electric vehicle to full production.”

YT Jia, FF’s founder, will assume the role of CPUO. He will oversee AI, product definition, user experience and the overall implementation of the internet eco-system model. YT’s forward-looking vision and strategy has given FF its transformational genes; his strategic planning in business model innovation has established FF's competitiveness and will also continue to promote product technology innovation to help FF achieve its long-term strategic goals.

In 2014, YT created the ‘new species’ of vehicle that was realized as the FF 91, which redefines the standards of the next generation in the mobility industry and transforms it across four aspects: electric, intelligent, connected and shared. YT is a visionary and a forward-looking, world-class strategist. YT founded LeTV in 2004, a video-streaming website, leading the trend of paying for copyright protected entertainment and internet content. This further pushed forward China’s video content industry development. He innovatively established the internet Ecosystem with industry-leading Internet Eco TVs and mobile phones and LeTV became the No. 1 internet TV brand in China.

“It has been an incredible honor and an amazing journey to serve as the CEO of FF,” said YT Jia. “I am extremely proud of our dedicated team and the many accomplishments we continue to achieve in our goal to transform and disrupt the automotive landscape. I envisioned a vehicle that will truly redefine transportation, mobility and connectivity, creating a true ‘new species’ of vehicle that integrates the ‘third internet living space’ with our ‘smart driving platform.’ With Dr. Breitfeld as CEO, the future of FF is brighter than ever, and I am confident that we, along with our senior management team, will enable FF to make a reality the original vision of a shared smart mobility ecosystem.”

FF Founder YT Jia will partner with Dr. Breitfeld to build upon the strong team that already exists at FF in the areas of product, technology and management. Together, they will further push forward the efforts to build out a top management structure at FF.

Today FF also announced the official recruitment of Global Chairman, which is of crucial importance to the recent reorganization of its top management team. FF’s founder YT initiated the restructuring of the company in late 2018 to implement many top management changes. In addition, YT is officially establishing a debt repayment trust to provide a thorough solution of his remaining debts and has made it a priority to repay them as quickly as he can.

“I gave up everything to make sure FF will succeed, and to fully repay my remaining guarantor debt as soon as possible, and ultimately to realize the dream of revolutionizing the automotive industry,” added YT.

ABOUT FARADAY FUTURE

Faraday Future (FF) is a California-based global shared intelligent mobility eco-system company. Established in May 2014, FF is a global 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.

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For More Information About Faraday Future, Contact:

John Schilling
Director, Public Relations
310-956-6488
john.schilling@ff.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/12e90ad0-bdcc-462b-9288-b9f600f87ea2

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f3112ee0-3b80-4583-90c2-ab8b74b3682d