IT House January 27 news, according to Faraday Future, Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE), a California-based global shared intelligent electric mobility ecosystem company ("FF", "Faraday Future" or the "Company"), announced that Mr. Mo Cuitian, Executive Vice President of FFIE's Global User Ecology, was appointed as FFIE Executive Director of the Board of Directors, the appointment is effective as of January 25, 2023. On the same day, the Board also appointed Mr. Mok Cuitian as a member of the Finance and Investment Committee of the Board.
At the same time, the FFIE Board of Directors Election Committee, established pursuant to the relevant points of agreement between FFIE, FF Top Holding LLC ("FF Top") and FF Global Partners LLC ("FFGP"), approved Mr. Mok Cuitian as the designee designee to be nominated as a member of the Board of Directors of FFIE's 2023 Annual General Meeting of Shareholders, effective upon approval by the Annual General Meeting. The Company is in the process of selecting a date for its 2023 Annual General Meeting, which is expected to be announced shortly.
Mr. Mok is the Global Executive Vice President of Faraday Future, a member of the Management Board of FF Global Partners and a member of the Executive Committee. Mr. Mo Cuitian led the FFIE global user ecology team to complete the strategy and implementation of FFIE's global brand communication and marketing, O2O sales, after-sales service, user operation, and the construction of the global ecological O2O direct sales system.
Mr. Mo is a senior leader with more than 15 years of executive experience in the global consumer electronics, high-tech Internet and smart electric vehicle industries, and was a core executive involved in the early establishment of FF. Prior to that, Mr. Mok served as CMO and CEO of LeEco Holdings Group Asia Pacific, where he successfully helped LeEco Holdings expand into global markets including the United States, Chinese mainland, India, Hong Kong and other Asia-Pacific regions.
Mr. Mo Cuitian was also the Vice President of Meizu Technology Co., Ltd., responsible for Meizu Smart Devices business development in China and globally. Mr. Mok has extensive experience in global marketing, branding, online and offline sales and Internet platform operations in the global consumer electronics, smart devices and Internet industries, and has led the team to achieve good sales results in the global market, and has repeatedly created the sales miracle of smartphones and smart TVs in the Indian and Hong Kong markets in a very short period of time.
Mr. Mok Cuitian succeeded Mr. Ye Qing on the Board of Directors of the Company and this appointment is an important step in submitting to the Annual General Meeting to vote for the approval of the new director nominees in accordance with the latest shareholders' agreement signed by FFIE and FF Top and following the procedures set out in the revised relevant agreements between FFIE, FF Top and FFGP. The Company would like to thank Mr. Ye Qing for his outstanding contributions to the Company during his tenure as a member of the Board of Directors. Under the amended shareholders' agreement, FF Top currently has the right to nominate four nominees as candidates for election to the Board of Directors, subject to the nomination procedures set out in the relevant agreements. Mr. Mok is the first candidate for election approved by the Election Committee. Pursuant to the agreement, the Board of Directors and the Nominating and Corporate Governance Committee will recommend that shareholders and proxies vote in favour of the nominee candidates for directors approved by the Company's Director Election Committee at the 2023 Annual General Meeting.
IT House understands that FF expects to begin mass production of the marketable FF 91 Futurist electric vehicle by the end of March 2023 and deliver it by the end of April, provided that the funds are in place in time and shareholder approval is obtained in time to increase the number of authorized shares. The company continues to make progress on the final testing and validation of FF 91 Futurist through the Product and Technology Generation 2.0 (PT Gen 2.0) project.
FF recently announced that it has reached the sixth milestone in manufacturing, which is the completion of construction and equipment installation in the vehicle assembly area. This marks the completion of six of the seven manufacturing milestones set by FF in late 2021 (the seventh milestone is SOP). This also represents FF's achievements in the mass production of the FF 91 Futurist.
In January this year, FF announced the signing of a strategic cooperation agreement with Huanggang City, under which the two parties will contribute their respective advantages in terms of investment, technological innovation, industrial transformation, location, and policy. At the same time, FF announced that it has signed a revised and restated shareholders' agreement with FF Top, a wholly-owned subsidiary of FF Global, which reinforces FF Top's position as a significant shareholder, FF Top will have 1:10 super voting rights and have the right to nominate four of the seven directors on the board.