Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) plans to reshape its business around Physical AI, robotics and shared autonomous mobility, as the California-based company seeks to separate its robotics operations into a standalone publicly listed business.
Faraday Future said it has signed a non-binding term sheet with Nasdaq-listed AIxC to combine its robotics business with AIxC at an approximate valuation of $200 million. AIxC is expected to be renamed FFR, subject to definitive agreements, regulatory approvals and approval from special committees of the two companies’ boards.
Under the proposed transaction, FFAI expects to become AIxC’s single largest controlling stockholder. AIxC, whose pre-transaction valuation is estimated at about $55 million, would discontinue its cryptocurrency strategy and reposition itself as a pure-play robotics ecosystem company focused on research and development, manufacturing, supply chain, sales, deployment, data and operations.
The transaction is expected to include an 18-month lock-up arrangement for shares of the robotics business, although final terms have not been agreed.
Robotics Business Moves Toward Standalone Listing
Faraday Future said its robotics operation has made rapid progress since its launch, completing the first phase of its “Built in USA” acceleration programme and advancing its EAI Robot World 2.0 platform.
The company said it has launched 24 products across three robot forms, all of which have received FCC certification, with customer deliveries underway. By the end of August, cumulative EAI device sales and shipments had reached 552 units.
Robotics products generated approximately $1.52 million in cumulative revenue, while their average contribution margin exceeded 30% in the second quarter, according to FFAI.
The company is also developing the other components of what it calls its “Four-Core Full-Stack AI” ecosystem. Its internally developed EAI Brain has entered engineering testing and delivery, while Developer Platform 1.0 is live.
The EAI Data Factory has completed its first round of real-robot data collection and training, creating what FFAI described as an initial commercial closed loop. Four industry productivity solutions have also been launched, while RoboShare, its robot-sharing and rental platform, has secured multiple paid orders.
FFAI said RoboShare aims to become one of the two largest robot-sharing and rental platforms in the United States.
Ambitious Revenue Targets
Management forecasts call for the robotics ecosystem to generate $7.1 million in revenue in 2026 with a positive gross margin, followed by $45.17 million in 2027 and a 30.5% gross margin.
Over five years, FFAI projects cumulative revenue of about $1.98 billion, with gross margin rising to approximately 54% by 2030. The company expects ecosystem-related revenue to increase from 22% of total revenue in 2026 to 49% as its EAI Brain, developer platform, data factory, industry solutions and services expand.
The projections remain subject to change and could differ materially from actual results.
FFAI also expects EAI device sales to reach 2,001 units in 2026 and 7,400 units in 2027, with cumulative sales exceeding 130,000 units over five years. The company projects more than 19 million hours of cumulative data supply during that period.
The company said it plans to invest approximately $300 million in research and development over five years.
Its robotics strategy is based on a “One Brain, Multiple Forms” approach, allowing the same underlying intelligence to support different robotic configurations. FFAI said this could provide greater flexibility across applications than a single robot form designed to address multiple use cases.
Initial industry productivity applications are expected to focus on education and research, security and inspection, industrial productivity and service-sector productivity.
Faraday Future Expands Beyond Electric Vehicles
Alongside the robotics restructuring, FFAI is changing its automotive strategy.
The company plans to explore Robotaxi operations, including potential connectivity with the Cybercab network, extend its EAI cabin technology to other intelligent vehicles and enable FF vehicles to connect with Robotaxi networks.
FFAI also plans to work with RoboShare on shared autonomous mobility, including vehicle-asset onboarding, operations and user services. The strategy is intended to create a lighter-asset model around autonomous transportation rather than relying solely on conventional vehicle ownership.
The company said its approach builds on the “Four Future Trends” of electrification, artificial intelligence, the internet and sharing that founder and global CEO YT Jia outlined in 2014.
As part of the shift, FFAI intends to develop its EAI cabin technology, including its “3rd aiSpace” platform, for use in other intelligent vehicles.
Holding Company Strategy
Faraday Future also plans to develop its parent company into a Physical AI investment, incubation and holding platform.
The company said the robotics business would be its first business within the ecosystem to develop independent operating capabilities and potentially pursue a public listing. FFAI expects the structure to allow mature businesses to pursue independent financing, valuation and operations while remaining connected through its ownership and ecosystem relationships.
According to FFAI, separating mature businesses could provide greater visibility into their financial performance and reduce the need for parent-level equity dilution to fund their expansion.
The company expects the proposed structure to create strategic, business, financial and capital benefits. However, these outcomes remain dependent on the completion of the transaction and the future performance of the businesses.
Berkshire Hathaway and Alphabet-Inspired Model
Following the planned restructuring, FFAI said it intends to operate under a model inspired by Berkshire Hathaway and Alphabet, combining a holding-company structure with independently operated businesses.
The parties are working toward definitive agreements, financing arrangements and closing. FFAI and FFR also expect to enter an investor rights agreement covering governance matters, including rights to nominate members of FFR’s board.
“Through this strategic upgrade, FF has the opportunity to once again become a driving force in the transformation of the automotive industry,” Jia said.
