Greetings. Welcome to Faraday Future Intelligent Electric Inc. fourth quarter 2024 earnings call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. As a reminder, this conference call is being recorded. It is now my pleasure to introduce Jun Feng, Investor Relations. Thank you. You may begin. Welcome, everyone, to Faraday Future's fourth quarter and full year 2024 earnings call. My name is Jun Feng, Faraday Future's Head of Investor Relations. I am joined by our Global CEO, Matthias Aydt, CFO, Koti Meka, our President, Jerry Wang, and Max Ma, the Global CEO of Faraday X, also known as FX, which is our new subsidiary, as well as Tech Lead, Anshul Rai, from the Intelligence, Autonomous Driving, and Internet Department. Today, we will be sharing details from our fourth quarter and full year 2024 results. The press release, as well as today's presentation, will be available in the investor relations sections of our website at investors.ff.com. A reply to this call will also be posted here later today. Please note that on the call, we will be making forward-looking statements based on current expectations and assumptions, which are subject to risks and uncertainties. These statements reflect our views only as of today, should not be relied upon as a representative of views as of any subsequent date, and we undertake no obligation to revise or publicly release the results of any revisions to these forward-looking statements in light of new information or future events. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. For further discussion of the material risks and other important factors that could affect our financial results, please refer to our filings with the SEC. With that, I'll turn the call over to our CEO, Matthias Aydt. Thank you, Jun, and thank you, everyone, for joining our earnings call. I'm excited to walk you through our progress and achievements from Q4 and full year 2024, as well as some key points and milestones for 2025. Today's presentation will cover the following key areas: an overview of 2024 developments together with 2025 outlook, along with our financials, then our Q4 key accomplishments and full year accomplishments by sectors, and finally, our 2025 focus in AI technology and project planning. First, let's have a brief overview of Faraday Future. Founded in 2014 by YT Jia, a serial entrepreneur and the originator of Smart TV in China market, Faraday Future is a California-based global shared intelligent mobility ecosystem company. We aim to disrupt the automotive industry with our next-generation intelligent connected electric vehicles. We are currently in a pivotal time here at FF, currently leveraging our strengths and exploring additional measures to enhance operating cash flow. To this end, we are undergoing strategic upgrades for the business with a main emphasis on launching the new FX brand. This launch will capitalize on FF's deep-rooted internet and technology expertise to deliver a more accessible, user-friendly, and cost-effective intelligent EV offering. Faraday X is designed to welcome a broader audience to the FF ecosystem, delivering our advanced human-machine interface and the elevated driving experience enabled by our proprietary technologies. This FX brand is part of our bigger company strategy that includes FF's global automotive industry bridge strategy. With this strategy, FF will seek to bring global components and supply chain into the U.S. to invigorate the U.S. AI EV industry and provide consumers with more diverse and better product options. Our global automotive bridge strategy also positions us to leverage our cutting-edge AI and software technologies across multiple market segments, potentially accelerating our mass market entry while maintaining our ultra-luxury offering. Our bridge strategy aims to introduce a performance-capable EV at a fraction of the price by empowering a second brand with much of the core technology used on the $300,000 FF 91. A mass-market second brand could make the AI car of the future the AI car of the people. Our strategy aims to establish a second mass-market-focused brand by collaborating with China-based OEMs and parts suppliers, focusing on the $20,000-$80,000 price segment. Below the FF brand, FF plans to upgrade the sourced components by integrating its own proprietary AI and vehicle software. Combined with mechanical platform support and supply chain collaboration from China's automotive industry, this creates a strong value proposition for scaling into the AI-driven EV mass market. With our dual-brand strategy, we are all ready to deliver exceptional products and drive long-term success. In 2024, we built the light, swift, and empowering model. This isn't just a slogan; it's the blueprint for how we operate. Being light means we are resource-efficient, keeping our assets, capital, and marketing lean so we can adapt quickly in a competitive market. Being swift means we move fast, whether it's decision-making, execution, or production. We stay ahead of the curve. Empowering is about creating value, empowering our products, our teams, our users, and our global strategy. This model has been the driving force behind our success this year, and it will continue to guide us as we grow. Let me take a moment to highlight some of our key operational achievements this year. We've established strategic partnerships with major OEMs. We have played a crucial role in accelerating the development and testing of our potential asset product line, a clear reflection of the industry's growing confidence in FF. On the product front, the in-house development of the FF 91 has been successful, with a total of nearly 1,600 software updates. This flagship model showcases our proprietary technology, including advanced AI-driven operating systems that are paving the way for the future of the FX line. By delivering the FF 91 to top-tier users, we've not only proven the strength of our technology but also built momentum for the FX commercial rollout. These milestones reflect the relentless drive and dedication of the entire FF team. Financially, 2024 has been a year of significant improvement. Our operating loss dropped to $149.7 million, a 47.7% improvement from 2023. This is a clear indication that we are becoming more efficient and focused. It's also important to note that 58% of our full-year net loss was driven by non-operating losses and non-cash expenses, not our core business performance. This shows that our core operations are strong and moving in the right direction. We are building a sustainable financial foundation that will support our long-term growth. In the capital markets, we have seen a fundamental transformation this year. We have regained full Nasdaq compliance, which is a major milestone. We have also seen tremendous growth in retail investors. Our NOBO holder base has grown by 163% since mid-2023. This is a clear sign that more and more people believe in our vision. We successfully received $76.7 million cash funding throughout the year to support our growth and innovation initiatives. This funding is critical as we continue to push forward with our plans for the FX line and beyond. The capital markets are recognizing our potential, and we are just getting started. As we look to the future, our focus is clear. First, we're on track for FX's first vehicle to roll off the line by the end of 2025, and we expect to hold our first vehicle launch event and start to collect paid reservations in Q2 2025. This is a pivotal moment for FF, and we are ready to make it a reality. In the meantime, we will continue to deliver FF 91 at a steady pace to serve the Spire user and co-creators. On the operations side, we also anticipate being able to announce a second product, a category-defining high-volume electric SUV among our AI EV family. Such product development will kick off in Q2. We will also continue FF AI technology development, including AI-powered smart cabin, AI hybrid system, semi-autonomous driving, and U.S. regulatory compliance in Q2 and throughout the year. With the FX strategy, we are set to make high-performance vehicles more accessible and affordable. Financially, our goals are clear. We're targeting to have the first FX vehicles start to generate revenue in 2025, meanwhile achieve positive gross margins for FX models as quickly as possible, with upcoming funding secured to support development and production. This is a critical step towards sustainable profitability. Additionally, we are focused on optimizing funding costs, ensuring we secure the capital we need without excessive dilution when possible. We're also committed to maintaining Nasdaq compliance. We've worked hard to meet Nasdaq's requirements, and we'll continue to do so while preserving shareholder value. Above all, we're fighting to enhance stockholder value. In 2025, we're planning high-frequency engagement activities to keep you informed and involved. One of the highlights will be launching our annual general meeting with an Investor Community Day, a dynamic event with more interactive sessions and opportunities to connect with the FF team. Your feedback and support are invaluable, and we want to make sure you, as our stockholders, become part of this journey every step of the way. With that, I'll hand it to Koti, our CFO, for the financials. Thank you, Matthias. Let's start with our 2024 fourth quarter financial results. We reported a net loss from operations of $30.3 million, a 55.3% improvement compared to a loss of $67.8 million in Q4 of 2023. This reflects the ongoing progress in cost efficiency and operational streamlining. Operating cash flow showed continued improvement during the quarter. Operating cash outflow decreased by 51.3% to $18.4 million compared to $37.8 million in Q4 of 2023. Financing cash inflows totaled $25 million in Q4 2024, nearly matching the $26.6 million raised in Q3 2024. In both quarters, financing inflows exceeded operating cash outflows, supporting the company's liquidity and growth initiatives. For the full year 2024, we reported a net loss of $355.8 million, primarily driven by non-operating and non-cash items rather than the underlying performance of our core business. Loss from operations totaled $149.7 million, a significant improvement from $286.1 million in 2023. This reflects our continued focus on disciplined cost control, particularly in R&D and G&A spending. The majority of the bottom-line loss, approximately $206 million, was attributable to non-operating and non-cash expense items, largely tied to the $188.3 million valuation true-up of existing and settled convertible notes and warrants. Specifically, we recorded a $176 million loss on the settlement of notes payable and a $12.3 million loss related to the fair value change in convertible notes payable, warrants, and incremental warrants. On the cash side, we're seeing meaningful progress. Operating cash outflow for the full year was $70.2 million, a 75% improvement compared to $278.2 million in 2023. This highlights the effectiveness of our cost discipline and the improvements we've made in operational efficiency. Turning to our cost and expense profile, the cost of revenue increased by $41.4 million year- over- year, primarily due to higher depreciation expenses as we brought more equipment online to strengthen production, particularly in our paint and body shop operations. R&D expenses decreased significantly by $106.8 million, driven by two main factors: a $53.6 million reduction related to lower salary and headcount as many R&D personnel transitioned into production roles, and a $35.2 million reduction in engineering, design, and testing costs. Additionally, we recognized a $14.9 million gain from the settlement of previously accrued R&D expenses with Palantir. Sales and marketing expenses were down by $13.6 million, primarily due to three sectors: a $7.7 million drop in compensation, a $3.6 million reduction in general expenses, largely due to lease terminations recognized in 2023, and a $1.7 million decrease in advertising spend. The general and administrative expenses also came down by $39.7 million, largely due to a $23.2 million reduction in professional service fees, a $10.7 million drop in insurance costs, mainly related to D&O coverage, and a $5.8 million reduction in general overhead, again reflecting lease terminations recorded in the prior year. Overall, we're seeing a clear trend of improving financial stability. In both Q3 and Q4, financing cash inflows exceeded operating cash outflows. This positive cash flow dynamic, combined with a 75% year-over-year reduction in operating cash burn and meaningful cost reductions across R&D and SG&A, reflects the tangible progress we've made in aligning our cost structure with operational priorities while positioning the company for long-term scalability and financial resilience. With that, I will hand it back to Matthias. Now, let's dive into our Q4 performance highlights. Let's first look at vehicle delivery. We've taken important steps to establish our presence in the market. We delivered the FF 91 to influencer, fashion model, and designer Suede Brooks, further pushing our presence in the luxury consumer market. Another FF 91 user, Luke Hans, an entrepreneur and community leader, also announced, "In manufacturing, we have taken several steps to enhance our production capabilities and efficiency. We secured Fuji vehicle body parts to support the manufacturing of the FF 91, with delivery starting in March 2025." We also improved manufacturing efficiency by insourcing EV seats for the FF 91, ensuring the higher quality control and cost effectiveness. On the software front, we released new in-car software updates through OTA, over-the-air update technology for the 91, enhancing the user experience and keeping our vehicle at the cutting edge of technology. Furthermore, we entered into a non-binding MOU with JC Sportline to showcase the FF 91 with enhancements and to explore future partnerships. This collaboration has the potential to improve our customization capabilities. The next set of updates is on our FX business development. We've made significant progress on our FX models, which are designed to target the mass market. On September 19, 2024, we announced two potential FX models, the FX5 and the FX6, featuring both range-extended and battery-electric powertrains, with FX5 having a target price between $20,000-$30,000 and FX6 having a target price between $30,000-$50,000. In November 2024, the first FX prototype mules were shipped to the FF, FF headquarters for product development and testing, with delivery completed in January 2025. Additionally, we are collaborating with OEMs for potential FX models, kicking off the product research phase. On the fundraising front, we have secured critical funding to support our growth and strategic initiatives. We secured $30 million in funding commitments in September 2024 to strengthen our core business and support the rollout of the Faraday X FX strategy. We also signed a co-investment agreement with Master Investment Group, owned by Sheikh Abdullah Al Qasimi, a member of the UAE royal family, with respect to an office building development in the UAE. Finally, we received an additional $30 million in previously committed December financing round, further bolstering our financial position as we continue to execute our long-term strategy. Let's now turn to our operational progress, where we've made several strategic moves to position FF for long-term success. First, we changed our stock ticker symbol from FFIE to FFAI, reflecting our commitment to advancing our AI strategy and aligning our brand with our vision for the future of intelligent electric mobility. We've also made progress on our future Ras Al-Khaimah, UAE, a key milestone in our global expansion. Collaboration is on track, and the handover is expected at the end of 2025 or early 2026. Throughout Q4, we've actively engaged with our community and industry peers through several key events. We participated in the 22nd SongZhuMei, Thousand People Picnic, hosted by the Chinese University of Alumni Association Alliance of Southern California, reinforcing our commitment to fostering connections and collaborations. During the 2024 Specialty Equipment Market Association show, we showcased two customized FF 91 2.0 Futurist Alliances. We also joined the annual Toy Drive event hosted by Sean Lee, demonstrating our dedication to giving back to the community. Moreover, we announced the AI Open Day event to further solidify our determination on AI application to our products. In leadership, we have strengthened our foundation and demonstrated our commitment to FF success. Our founder, YT Jia, made a significant contribution by donating 60% of his personal shares in Grow Fandor, a global IP commercialization company, to FF, representing 10% of Grow Fandor's total shares. We have forged an exclusive strategic licensing agreement. This licensing agreement has the potential to create a new growth driver for FF. Additionally, YT and I demonstrated our confidence in FF by purchasing FF's Class A Common Stock starting September 2024. We've also made key personnel appointments to drive our company and the FX strategy in the coming year. Werner Wilhelm joined as an Executive Launch Director, bringing extensive experience in product launches. Yin Mok was appointed as Head of FF UAE, overseeing our operations in the region. Koti Meka was named Chief Financial Officer, and Aaron Ma became Acting Head of EV R&D. Dr. Lei Gu was named as President of the FX Global EV R&D Center, and Max Ma was named as CEO for FX. These leaders bring deep expertise and vision to their roles, ensuring we execute our strategy with precision and innovation. Next, let's go on to review of our 2024 full year performance by sectors. In 2024, we adopted a deliberate and responsible approach to vehicle delivery, prioritizing quality control, system stability, and the inherent value of the FF 91 over rapid scaling. While we delivered a total of six vehicles, these numbers reflect our commitment to ensuring that every FF 91 meets the highest standards of craftsmanship, performance, and user experience. We believe that delivering a truly exceptional product is more important than rushing to meet arbitrary delivery targets. In last year, our new users included Born Leaders Entertainment, a Hollywood-based production company, Motev, a B2B co-creation partner founded by Robert Gaskill and Morgan Freeman, and fashion model and designer Suede Brooks. These early adopters represent the elite tier of innovators and influencers who recognize the unparalleled value of the FF 91. Their feedback has been instrumental in refining our product and ensuring it delivers on its promise of ultimate AI tech luxury. Our co-creation officer program has been a key driver for innovation and refinement for the FF 91. We added four co-creation officers who bring diverse expertise and industry influence on the FF brand. Their contribution has strengthened our brand identity and industry connections, while their feedback has directly led to continuous product improvements, including the introduction of a sporting event replay feature and the addition of synchronized video playback across three screens at different seat locations, enhancing the in-car entertainment experience. These updates underscore our commitment to deliver a premium user-centric product that evolves with our customer needs. In manufacturing, we have made significant strides in improving efficiency, quality, and scalability. In 2024, we used two newly manufactured vehicles, crash tests, to validate our self-produced body in white. The successful testing not just validated our self-manufacturing ability, but also helped us to ensure the safety, durability, and performance of our vehicles. At our Hanford plant, we achieved several key improvements: reduced production cycle time by 40%, improved customer craftsmanship audit scores by 50%, and enhanced quality control with in-process quality gates, increasing quality checks by 200%. These advancements reflect our unwavering focus on quality over quantity, ensuring that every FF 91 meets the highest standards of excellence. Our UAE factory progress is another critical milestone in 2024 as we expand our global footprint and prepare for future growth. We reserved a 108,000 sq ft manufacturing facility Ras Al-Khaimah economic zone, making a significant step in our international strategy. We also held our first of multiple face to face meetings with local stakeholders to advance the completion of the manufacturing facility, ensuring alignment with local stakeholders. We have also completed the equipment supplier selection phase, awarded phase one equipment procurement to a UAE-based supplier, and introduced program management tools and project charter, securing stakeholder approval for the estimated UAE program schedule. This progress in 2024 sets fundamentals for our development in Q1 2025, during which we completed the first lease of an FF 91 in the New York market. These steps lay the foundation for a facility that will support our long-term growth and global ambitions. Next, I will let Anshul Rai, the tech lead from our IAI department, go through the details of our technology development that paves the way for better user experience and AI applications. Thank you, Matthias. Let me provide you with our updates on the technology side. In 2024, we made significant strides in enhancing the technological capabilities of the FF 91, ensuring that it remains at the forefront of innovation in the EV industry. We delivered nearly 1,600 upgrades via several over-the-air updates, continuously improving the vehicle's performance, features, and user experience. These updates reflect our commitment to providing customers with a cutting-edge product that evolves over time. We've also made it easier for users to share their insights and suggestions. Through the FF AI voice assistant, users can now submit feedback directly, streamlining the process and allowing us to respond more effectively to their needs. This feedback loop is critical to our mission of delivering a user-centric mobility experience. On the navigation front, we've upgraded the Maps app to provide clearer turn-by-turn guidance, ensuring a more intuitive and stress-free driving experience. For entertainment, we've introduced streaming video playback on the center display when the vehicle is parked. Users can now access major sporting events, including NFL, MLB, NHL, NBA, and more, transforming the FF 91 into a mobile entertainment hub. We've also made several control and interface enhancements to improve usability and comfort. The door panel interface has been revamped for easier seat adjustments, and the FF AI assistant can now be activated via the rear seat controls. Seat comfort has been enhanced with smoother leg support and adjustment mechanisms. The pillar screen controls now offer interactive features for flexible control of all doors. The center display has been updated with a drag-and-drop app customization interface, improved color contrast, and better readability. The rear display now shows Bluetooth connection status, simplifying headphone pairing and management. These upgrades ensure that every interaction with the FF 91 is seamless, intuitive, and luxurious. In terms of internet connectivity, we've introduced a clearer signal strength display and support for wireless carrier name to be visible, ensuring better connectivity management. Throughout 2024, we've made significant improvements in overall build quality and system stability, delivering a more reliable and refined driving and rider experience. Finally, our AI-driven advancements have been a cornerstone of our innovation strategy in 2024. We've developed a next-generation in-car interaction system powered by large AI models, also referred to as an AI OS powered by AI agents. This system redefines how users interact with their vehicles, offering a more personalized and intelligent experience. We're also conducting research on end-to-end pure vision advanced autonomous driving solutions, leveraging cutting-edge AI to push the boundaries of autonomous mobility. Additionally, we're exploring AI applications in vehicle control and traditional driving, including projects like AI range extension, which aim to optimize performance and efficiency. To continue our refinement in Q1 of 2025, we have made progress across several key areas, demonstrating our commitment to innovation, quality, and market readiness. On the FF 91 front, we successfully completed the first external release of the version 57 vehicle software and finalized the edit of the upcoming version 58, which is now in the internal testing phase. These updates have significantly enhanced the user experience and product performance, ensuring that the FF 91 continues to deliver a truly exceptional driving experience. In terms of our AI product strategy, we completed the strategic planning for upcoming AI products, setting a clear roadmap for future development. We also delivered the first internal development version of an AI-powered system, making a critical step forward in our AI-driven innovation. Additionally, at the first FF Open AI Day, we launched Future AIHER, the world's first AI hybrid extended range electric powertrain system company. Finally, on the FX product compliance front, we conducted a thorough compliance analysis for the U.S. market in collaboration with multiple potential FX partners. We also delivered change proposals to ensure compliance with the U.S. market regulations. Now, I want to turn it over to Jerry Wang, our President, to provide updates on the capital market side. Thank you, Anshul, for the detailed summary. On the capital market side, in 2024, we saw significant progress in strengthening our financial position, which has been critical to advancing our strategic goals. On September 4, 2024, Nasdaq officially confirmed that Faraday Future was in full compliance with all listing requirements. This achievement followed a series of strategic actions to address previously identified deficiencies, including delays in filing periodic reports and the minimum bid price requirement. Restoring compliance reflects the resilience and determination of our team, along with our unwavering commitment to transparency and strong governance. We have seen a significant growth in our retail shareholder base, which, based on the NOBO list, increased by approximately 163% from mid-2023 to January 2025. We also finished a significant amount of financing, although facing tough market capital market conditions, mainly driven by the early successful execution of FX strategy and FX's unique competitiveness. In the first half of the year, we secured $26.7 million in financing, providing essential support for our operations. Building on this momentum, we received an additional $50 million in the second half of 2024, making an 87% increase from the first half. We also successfully hosted an investor community day on July 2024. In Q1 2025, we continued to perform. On the investor side, in February, we hosted private investor events in New York City, engaging with stakeholders and showcasing our progress and vision for the future. To more clearly communicate our strategic focus, we changed our ticker symbol to FFAI in March, underscoring our commitment to AI-driven technologies and alignment on our brand with the future of intelligent mobility. We also successfully secured $41 million in financing in March 2025, subject to closing conditions, further strengthening our financial position and supporting our ongoing initiatives. While funding sustains, we look to keep improving our operational efficiency. In 2024, we demonstrated remarkable operational resilience despite supply chain disruptions and tariff challenges. We sustained FF 91 deliveries, ensuring that our flagship product continued to reach customers and strengthen our brand presence. At a pivotal moment, we successfully launched our second brand, Faraday X, and introduced the Bridge strategy, which has been instrumental in expanding our potential market reach. Additionally, we strengthened our market presence through strategic arrangements with key Chinese industry players, further solidifying our position in the global EV market. One of our key achievements in 2024 was the significant progress we made in cost reduction. We achieved substantial savings across several key areas, including personnel costs, professional services, and general expenses such as rent and insurance. The disciplined approach results in a 72.9% reduction in operating expenses compared to 2023, while maintaining operational effectiveness. The cost management efforts have not only improved our financial health but also positioned the company for sustainable growth in the years to come. To enhance operational efficiency, we launched the PPTIA system, which stands for Policy, Process, Tools, IT, and AI. This system guides our daily operations and incorporates AI-driven solutions to improve data analysis and operational performance. By integrating AI into our workflows, we've been able to streamline processes, enhance decision-making, and drive greater efficiency across the organization. In 2024, we also strengthened our risk management framework to support financial stability and regulatory compliance. By proactively addressing potential risks and implementing robust controls, we've created a more resilient organization capable of navigating challenges and seizing opportunities in a dynamic market environment. As has been stated, we made several key appointments to strengthen our leadership team and drive our strategic initiatives. Looking ahead, our operational focus remains on continuous improvement and strategic execution. In Q1 2025, we have further enhanced our five-step system build-up methodology and the PPTIA system to optimize daily operations. We also collaborate with top OEMs to advance the Bridge strategy and strengthen our supply chain. For the FF brand, we prioritize vehicle delivery and user experience enhancement and use the continued delivery and sales of the FF 91 as a foundation for launching the production vehicles of our second brand, FX. For the second brand, we're collaborating with major top-tier OEMs to ensure the successful launch and delivery of mass-market FX vehicles. Now, I'll turn it over to Max Ma to provide more specific details on our FX and global strategy. Thanks, Jerry. In 2024, we made significant progress in advancing our Faraday X FX strategy, which is central to our mass-market ambitions. We established Faraday X AI EV Inc. in early September 2024 to operate the FX strategy and products, ensuring focused execution and scalability. We also signed framework agreements or MOUs with several Chinese OEMs and finalized product development and delivery agreements with two top OEMs, each with annual sales exceeding 1 million vehicles. These agreements focus on development, testing, regulation, supply chain planning, and production execution. A key milestone was reached on November 20, 2024, when the first FX prototype MUs were shipped to FS US headquarters, marking the start of the product development and testing phase. We also made significant progress on our global strategy. In China, we focused on strengthening our supplier collaborations and global supply chains to support our international operations for both FF and FX. We maintained and expanded relationships with Chinese suppliers, securing collaborations with the top-tier suppliers to advance the FX strategy. These efforts not only strengthened FF's global supply chain but also enabled international expansion of the Chinese suppliers via our Bridge strategy. By building a bridge between the automotive industries of China and the U.S., we solidified FF's global footprint and competitive edge, positioning ourselves to leverage the strength of both markets. Additionally, we achieved a significant milestone in our third pole strategy by establishing a presence in the United Arab Emirates. Through Faraday Future Middle East FC, we secured a 108,000 sq ft facility in Ras Al-Khaimah to be used as our UAE headquarters and a potential manufacturing facility. Also, a co-investment agreement with Master Investment Group, a real estate investment and a construction company, was signed primarily for collaborating on the establishment of the above-mentioned headquarters. Following the fundamentals built in 2024, in Q1 2025, we continued to build momentum with several key achievements. We revealed FX AI MPV product strategy and presented camouflaged prototype MUs during an event in Las Vegas, Nevada, in January 2025, generating excitement among stakeholders and customers. We signed a strategic cooperation agreement with another top OEM in China on February 20, 2025, and with core suppliers of the new energy industry on February 26, 2025. By March 19, 2025, the first FX6 prototype MUs arrived at our Los Angeles headquarters, where they will begin U.S. product development and testing with a focus on advanced driver assistance systems. In China, we engaged top OEMs, as previously mentioned, to develop, test, and plan the production of two potential FX models. These achievements in FX strategy execution, China collaborations, and UAE development underscored our progress and commitment to long-term success. Now, I'll hand over to Matthias. Thank you, Max. As we look ahead to the remainder of 2025, our focus remains on delivering high-performance intelligent electric vehicles of both FF and FX brand, while strengthening our manufacturing capabilities, advancing our technology and AI initiatives, and enhancing financial stability. Now, I'd like to conclude the earnings call with an overview of our technology and AI focus for 2025, which solidifies our determination to roll out the FX models at year-end. 2025 will see the completion of our first-generation smart cabin powered by AI agent technology, which will be fully deployed in the FF 91 and prepared for integration into our upcoming FX series. Another major innovation is our AI hybrid extended range system, where we will look to finalize the detailed product definition and complete the core R&D work, setting the stage for future electrification advancements. In the meantime, we are taking a forward-looking approach to self-driving technology, focusing on preliminary research into end-to-end autonomous driving using large-scale AI models, defining the autonomous driving technology roadmap for the FX series and the next-generation models. We are also developing a phased implementation plan to ensure compliance with U.S. regulatory standards for our smart cabin and autonomous driving technologies. In summary, 2025 will be a pivotal year for our company. With a strong focus on driving technological innovation and maintaining financial discipline, we are positioning ourselves for long-term growth and success in the EV market. With that, I'll turn it back over to the operator. Thank you, Matthias, and thank you to everyone who presented today. As we wrap up, I'd like to briefly highlight the materials included in the appendix of today's presentation. In the appendix, you will find our audited balance sheets and financial statements, providing additional detail on our year-end financial position, and a visual recap of some of our key milestones from 2024, showcasing important projects, technology, and operational achievements. These materials offer helpful context to support everything we've shared today. With that, we'd now like to open the floor for Q&A. Ladies and gentlemen, we will now begin the next segment of our call, where Brad Cohen from Faraday Future's External Investor Relations team will moderate a Q&A session addressing questions submitted by investors prior to today's call. Ashish, please go ahead. Thank you, Operator. We've received numerous questions from our investors through the #AskFF campaign, and I'll be directing these questions to Faraday's management team. Let's begin with our first question. It was mentioned FX production is on track for 2025. Can you provide more details on the timeline for pre-orders and how you plan to ensure production stays on schedule? Great question. We are planning to open pre-orders for the FX in Q2 2025 ahead of production. As for the timeline, we've built a robust production plan with clear milestones and contingencies. Our collaborations with leading OEMs and suppliers, combined with our in-house expertise, give us confidence in meeting our targets. Thank you for that answer. Moving on to our next question. What do you see as the biggest risks or challenges in achieving your 2025 goals, and how are you preparing to address them? Transparency is key, so I appreciate this question. The biggest risks include supply chain disruptions, market competition, and regulatory changes. To mitigate these, we've diversified our supplier base, strengthened our relationships, and built a flexible production model. We are also closely monitoring market trends and regulatory developments to stay ahead of the curve. While challenges are inevitable, we are confident in our ability to navigate them and deliver on our promises. Thank you, Matthias. Moving on to another question. You mentioned targeting positive gross margins for FX models. How do you plan to achieve this given the competitive nature of the EV market? Great question. Achieving positive gross margins as we ramp up production is a top priority, and we're approaching it through several key levers. Number one, cost efficiency. We're reducing production costs by leveraging strategic OEM relationships and integrating proprietary in-house technologies over time. Number two, scale. The FX strategy is built for high-volume production, enabling us to significantly lower per-unit costs over time. Number three, smart pricing. The FX is positioned as a premium offering with broad appeal, balancing strong customer demand with gross margins. Importantly, the FX platform has been planned from day one with mass-market economics in mind, utilizing an asset-light model and strategic manufacturing collaborations. Our dual powertrain architecture also supports flexible margin profiles, with potential range extended variant likely offering higher contribution margins. As we scale, several drivers will further support margin expansion: manufacturing efficiencies through increased volume and our China bridge, amortization of fixed costs over a larger production base, supply chain optimization, and the introduction of higher margin variants. We're confident that our business model enables attractive unit economics at scale. Great. We'll continue with the next question. Maintaining Nasdaq compliance without a reverse stock split is an impressive feat. How do you plan to sustain this while also enhancing shareholder value? Thank you. Maintaining Nasdaq compliance is a testament to the strength of our business. We're focused on executing our growth strategy, which includes delivering the FX products, advancing our AI technologies, and expanding our market presence. As we achieve these milestones, it will support sustained growth, delivering long-term value to our shareholders without the need for a reverse stock split. Great. Moving on to the next question. We are very excited about the idea of an investor community day. Could you share more about what this day will look like and how it will benefit investors? Absolutely. We have hosted an investor community day in 2024 and received great market appreciation. It will be a dynamic, interactive event where investors can engage directly with our leadership team, tour our facilities, and experience our products firsthand. It's about creating a deeper connection with our investors and giving you a front-row seat to FF's journey. We will also host breakout sessions, Q&A panels, and networking opportunities to ensure your voices are heard and your questions are answered. Great. Thank you for that response. Let's move on to the next question. How does FX's global automotive bridging strategy benefit Faraday Future? Good question. We launched the FX Global Automotive Bridge Strategy in 2024. The core of the strategy is the integration of strengths, the integration of the core advantages of the smart mobility industry in China and the United States into FX products. Let's start by looking at why FX strategy has a chance to succeed. First of all, opportunity. We are in an era of explosive growth in AI, which presents a huge opportunity for the smart mobility industry. Seize this opportunity, integrate existing advantages, resources, and quickly launch attractive mass mobility products, which is what we are doing now. Second, the capability. The FX strategy is built on FF's accumulated experience over the past 10 years. So far, FF has invested heavily to establish an original core technology platform, including the AI-powered operating system. These platforms can be efficiently applied to different vehicle models. Additionally, FF has a dual home advantage in both China and the United States, enabling us to identify high-quality resources that align with FX strategy in both countries. Third, the products. We will test and optimize the mature mechanical design platform and equip it with the FF technology platform that can be continuously iterated in the future. We wanted the FX to be both trendy and mature, combining the versatility and trend of the features with the maturity and stability of the hardware, which is what makes the FX model attractive. Currently, FX has planned three potential models, including an MPV product: the FX5, target price of $20,000-$30,000, and the FX6, target price of $30,000-$50,000. As you can see, unlike the positioning of the FF 91, the FX models are aimed at the mass market. This will help us increase market share, gain continuous user operation scenarios, improve revenue, and thereby enhance the company's value. Our final question. It sounds like FX products will use a lot of Chinese parts and supply chains to build supply chain and cost advantages. Do a series of import tariffs have an impact on FX's strategy? Tariff policies affect not just one company, but the entire industry. We plan to manufacture and sell FX products in the United States. As long as there is a cost advantage and performance advantage over other similar products in the United States, FX products are attractive. FX products will have the core advantage of smart mobility in China and the United States, and I believe they will be competitive. Thank you, Matthias. That concludes the #AskFF Investor Q&A session. Faraday Future appreciates all the questions submitted and apologizes if we were not able to get to your question today. The company remains committed to maintaining open communications with investors. With that, we'll turn the call back to the operator for closing remarks. Thank you, Brad. That concludes today's conference call. Thank you for your participation. You may now disconnect your lines.