Faraday Future Appoints Industry Veteran Xuefeng (“Chris”) Chen as CEO of FF China to Solidify US-China Dual Home Market Strategy
LOS ANGELES--Faraday Future (“FF” or “Faraday Future”), a California-based global shared intelligent mobility ecosystem company, today announced that Mr. Xuefeng (“Chris”) Chen has officially joined FF as the CEO of FF China and will report directly to Carsten Breitfeld, FF Global CEO. Chen will oversee all FF China related businesses, including project implementation, production strategy, development of localized products and creation of user ecosystem. Chen will also serve as an FF global partner.
Chen has nearly twenty years of experience in the automotive industry and is acknowledged within the industry as one of the youngest executives in charge of the China-side of business in automotive joint ventures. Chen is a pioneer in the Chinese automotive industry and possesses extensive and comprehensive corporate management experience including, among other things, localization and introduction of luxury car brands, the construction and launch of production bases, and production operations.
“Chris is a critical hire to the realization of FF’s US-China dual home strategy,” said Dr. Carsten Breitfeld, Global CEO of FF. “I am confident that his comprehensive management acumen and operational experience in luxury car brands will accelerate the implementation of FF’s business in China and will be beneficial to FF's global strategic development.”
Chen started his automotive career in 2002 and previously worked for Changan Ford, Changan Mazda, Ford Asia Pacific Design Center and Chery Jaguar Land Rover. In January 2013, Chris joined Chery Jaguar Land Rover Automotive Co., Ltd. as executive vice president of manufacturing. He was promoted to executive vice president in November 2015 and became the youngest person in charge of the China-side of business in automotive joint ventures at the age of 39. Chen graduated from Wuhan University of Technology in 1999, majoring in automobile design and manufacturing.
“I am very excited to join FF's talented team who share the same dream, the same mission, vision and value with a vast platform for co-entrepreneurship and value sharing and will help guide their goal in building a shared intelligent mobility ecosystem," said Chen. “I will work with FF global partners and all employees to achieve the strategic goals of FF's US-China dual home markets.”
Currently, preparation for the delivery of FF 91, a product that represents FF's super-intelligent tech luxury brand DNA, is in full gear, along with its China business roll-out. Chen will help orchestrate FF 91’s entry into the Chinese market and will be hugely beneficial for FF’s US-China dual home market strategy development.
FF recently announced a merger agreement with Property Solutions Acquisition Corp. “PSAC” . The transaction is expected to close in Q2 of 2021 and FF’s stock will begin trading on the Nasdaq under the ticker symbol “FFIE.” This transaction validates FF’s vision to create a mobility ecosystem built upon innovations in technology and products. FF 91 is planned to be launched 12 months after closing of the merger.
As the only next-gen intelligent internet EV product, FF 91 delivers a unique intelligent Internet electric mobility experience with its product DNA of extreme technology, ultimate user-experience, and complete ecosystem. With an industry-leading 1,050 horsepower, the largest battery pack of 130 kWh equipped with submerged liquid battery cooling technology, 0-60 in less than 2.4 seconds, and a unique rear intelligent Internet system, FF 91 delivers internet connectivity at "the speed of light" via its super mobile AP, achieves the industry's largest reclining angle of 60 degrees through the zero-gravity seat, and provides a revolutionary user experience, designed to create a mobile, connected, intelligent, and luxurious third Internet living space and user mobility ecosystem platform.
Background on Xuefeng (“Chris”) Chen:
Born 1976 in Chongqing. Graduated from Wuhan University of Technology with a Master's degree in vehicle design and manufacturing.
March 2021 - Joined FF as CEO of FF China
2015- Feb. 2021 - Member of the CPPCC of Jiangsu Province; Executive Vice President at Chery Jaguar Land Rover Automotive
2012-2015 - Executive Vice President of Manufacturing at Chery Jaguar Land Rover Automotive
2009-2011 - Head of Programs/Director of Vehicles/Director of Planning, Changan Ford Mazda (Nanjing)
2005-2009 - Strategy Planning Manager, Changan Ford Mazda (Nanjing)
2004-2005 - Engineer at Ford Australia (Ford Asia Pacific Design Center)
2002-2003 - Engineer at Chongqing Changan Ford Mazda Automotive
2000-2002 - Program Manager at Zongshen Automotive
Users can reserve an FF 91 now at: https://www.ff.com/us/reserve.
ABOUT FARADAY FUTURE
Established in May 2014, Faraday Future (FF) is a global shared intelligent mobility ecosystem company, headquartered in Los Angeles, California. FF's vision is to create a shared intelligent mobility ecosystem that empowers everyone to move, connect, breathe, and live freely. FF aims to perpetually improve the way people move by creating a forward-thinking mobility ecosystem that integrates clean energy, AI, the Internet and new usership models. With the FF 91, FF has envisioned a vehicle that redefines transportation, mobility, and connectivity, creating a true “third Internet living space,” complementing users’ home and smartphone Internet experience.
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ABOUT PROPERTY SOLUTIONS ACQUISITION CORP.
Property Solutions Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, stock purchase or similar business combination with one or more differentiated businesses. The company is managed by Co-CEO’s Jordan Vogel and Aaron Feldman.
Property Solutions I is a $230 million SPAC formed in July 2020 and is traded on the NASDAQ under the ticker symbol “PSAC”.