Faraday Future to Spin Off Robot Business Into Nasdaq-Listed AIxC at $200M Valuation

Faraday Future (FF) announced on September 29 that its robot business will be merged into Nasdaq-listed AIxC, which will be renamed FFR, at a market valuation of $200 million, for an independent listing. The companies have signed a non-binding term sheet, with the transaction still subject to a definitive agreement, approvals from special committees of both boards, and regulatory clearance.

FF founder and global CEO Jia Yueting said the strategic upgrade will allow FFAI to unlock value in a more open and resilient way, marking an important step for EAI and Physical AI to move from exploration to industrial co-building. FFAI also plans to become a Robotaxi shared network and smart cabin technology operator, as well as a Physical AI investment holding company.

According to FFAI's robot business plan, operating cash flow is expected to turn positive on a quarterly basis in Q3 2028. Total revenue from its "four-core all-intelligent" ecosystem is projected to reach $7.1 million in 2026 with a gross margin of 9.9%, and $45.17 million in 2027 with gross margin rising to 30.5%. Cumulative five-year revenue is estimated at $1.98 billion, with gross margin expected to gradually increase to 54% by 2030. The company plans cumulative R&D investment of about $300 million over five years.

FFAI targets EAI robot sales of 2,001 units in 2026 and 7,400 units in 2027, exceeding 130,000 units in five years. After the transaction, FFR aims to maintain a top-3 industry ranking among EAI robot ecosystem companies.