Faraday Future announced on Wednesday evening its first retail store in Beverly Hills (California) selecting ASTOUND Group to implement design direction, and execute the physical experience. The retail space will be located at 464 N. Beverly Drive in Beverly Hills ahead of the FF 91 launch in Q3 2022, as previously announced.
The space will be equipped with a retail area, sales lounge, cafe, VR experience, co-creation lab, and VIP lounge, making the in-store sales experience complementary to the driving experience of the FF 91.
“Designing FF’s flagship brand experience center, working with the world-class brand experience design firm ASTOUND, and getting our dealer license to sell the FF 91 brings us closer to launching this remarkable electric vehicle to our users,” said Dr. Carsten Breitfeld, Global CEO of Faraday Future. “Having a tangible space where users can visit, interact, co-create, and ultimately purchase a vehicle from FF will make this whole journey a reality. In the near future, our cars will not only be in store windows but will also be on the streets of California and beyond, available to all who wish to experience this new species of the ultimate intelligent TechLuxury vehicle.”
FF received its dealer license from the State of California for its U.S. operations. The California dealer license makes it possible for FF to sell directly to users in the state and to sell vehicles online to users outside of California. FF will go to market using a unique direct sales model leveraging its online platforms (FF Intelligent App, FF.com), FF stores, and partner showrooms for an asset-light sales network. Having its own distribution network allows FF to provide a seamless user experience and enables the company to deliver the highest level of price transparency to its users.
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Users also will be able to schedule demonstration drive experiences. ASTOUND Group is a fully integrated experience design and fabrication firm that has over 20 years of experience crafting human-centered projects that connect brands with audiences in over 40 countries across a variety of industries.
“ASTOUND is excited to be collaborating with FF on the design and delivery of the physical environment and the consumer journey at their flagship brand experience center in Beverly Hills,” said Dale Morgan, CEO, ASTOUND Group. “Taking a holistic approach to the design and integrating the physical-digital elements will result in an immersive, future-forward retail experience.”
The company recently reported its Q4 2021 results and its annual report (10-K) and meeting Nasdaq deadline. Results were delayed as a result of the previously disclosed Special Committee review, the EV maker said. On May 4, Faraday Future received an extension from the Nasdaq until May 16, 2022 to file the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and regain compliance with Nasdaq Listing Rule 5250.
Last week, the EV maker announced its financial results for Q3 2021. On March 15, the California-based company confirmed that the Nasdaq had granted Faraday Future an extension until May 6, 2022, to file the quarterly report.
With the third quarter of 2021 results now reported, Faraday Future avoids the risk of being delisted by Nasdaq. The Company plans to host a conference call open to investors after it files its Q1 2022 results in mid-May.
In April, Faraday Future announced that its FF91 Model will use Brembo as a supplier to the brake technology, as the main supplier of full brake caliper assembly. Brembo will provide a specialized caliper assembly for the FF 91. This includes assembly, pistons, calipers, and pads, along with the electronic parking brake — the company said.
The company also unveiled recently that will partner with Meta System to become the supplier of on-board power management module products. FF 91 EV and the upcoming FF 81 vehicles will be equipped with Meta System’s onboard battery charger. The system will feature 15.2 kW AC charging capability.