法拉第未来 2025年度报告

FORM 10-K (Mark One) For the fiscal year endedDecember 31, 2025 For the transition period from ________to ________ Commission file number 001-39395Faraday Future Intelligent Electric Inc.(Exact name of registrant as specified in its charter) (424) 276-7616Registrant's telephone number, including area code Securities registered pursuant to Section 12(b) of the Act: Securities registered pursuant to section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 ofRegulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or anemerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal controlover financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issuedits audit report.☐ If securities are registered pursuant to Section 12 (b) of the Act, indicate by check mark whether the financial statements of the registrant included in thefiling reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation receivedby any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1 (b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No Based on the closing price as reported on the Nasdaq Stock Market, the aggregate market value of the registrant’s Common Stock held by non-affiliates onJune30, 2025 (the last business day of the registrant’s most recently completed second fiscal quarter) was approximately 223,500,520.Shares of CommonStock held by each executive officer and director and by each stockholder of more than 10% of any class of voting equity securities of the registrant havebeen excluded from this calculation because such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusivedetermination for other purposes. As of March24, 2026, there were 248,764,702 shares of Class A Common Stock, $0.0001 par value, and 6,667 shares of Class B Common Stock, $0.0001 Part I Item 1.Business2Item 1A.Risk Factors23Item 1B.Unresolved Staff Comments80Item 1C.Cybersecurity80Item 2.Properties82Item 3.Legal Proceedings82Item 4.Mine Safety Disclosures82Part IIItem 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of EquitySecurities83Item 6.Reserved84Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations84Item 7A.Quantitative and Qualitative Disclosures About Market Risk120Item 8.Financial Statements and Supplementary Data121Item 9.Changes in and Disagreements With Accountants on Accounting and Financial Disclosures228Item 9A.Controls and Procedures229Item 9B.Other Information232Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections234Part IIIItem 10.Directors, Executive Officers and Corporate Governance234Item 11.Executive Compensation234Item 12.Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters234Item 13.Certain Relationships and Related Transactions, and Director Independence234Item 14.Principal Accounting Fees and Services234PART IVItem 15.Exhibits, Financial Statement Sc