Faraday Future announced that the company’s board of directors has dismissed Carsten Breitfeld as global CEO and appointed FF China CEO Chen Xuefeng as global CEO, effective immediately.
FFIE’s Board of Directors removed Bifflecom as Global CEO following a thorough evaluation of the company’s performance since its IPO in July 2021. Under corporate governance guidelines, managing directors are required to submit their resignation to the Board of Directors upon removal of a corporate officer. The Board of Directors has asked Mr. Bifukang to submit his resignation to the Board in accordance with Faraday Future’s governance guidelines.
Chen Xuefeng joined FF from Changan Ford, Changan Mazda, Ford Asia Pacific Design Center and Chery Jaguar Land Rover. As global CEO, Chen’s top priority is to bring the FF 91 Futurist to market and deliver on its promise to shareholders, investors, global partners, users and employees, Faraday Future said.
“I believe the decision to appoint Chen Xuefeng at this critical time for the company is timely and correct,” said Adam He, Chairman of FFIE’s Board of Directors. In particular, his years of experience at Ford and Jaguar Land Rover will be a solid foundation for him to manage FF’s global team. The company’s priority now is to deliver the FF 91 Futurist to customers as soon as possible with high quality and low cost, and to maximize the interests of Faraday Future’s shareholders by establishing FF’s dual home base in China and the US.” said Adam He, Chairman of FFIE.
The FF 91 Futurist is currently undergoing final testing and verification before mass production, and from the current results, the FF 91 Futurist’s range, 0-60 acceleration, braking distance and other core performance indicators are far beyond expectations.
Faraday Future previously said in its third-quarter earnings report that it will continue to incur large operating losses for the foreseeable future and has “deep doubts” about the company’s ability to continue operating, and said it is uncertain when the first FF 91 luxury electric cars will be delivered.
