Faraday Future Intelligent Electric Inc (NASDAQ: FFAI) is an electric vehicle company that designs, develops, and sells battery-electric passenger vehicles. Revenue is generated through direct vehicle sales, with bundled services including home charger hardware, charger installation, 24/7 roadside assistance, over-the-air software updates, internet connectivity, and destination fees recognized at delivery or over time on a straight-line basis. The company delivered its first vehicle, the FF 91 2.0 Futurist Alliance, in August 2023, and delivered four vehicles during the year ended December 31, 2025. FFAI uses a hybrid direct-to-consumer and partner-ecosystem sales model combining online channels with partner-owned stores and showrooms, targeting an asset-light distribution approach. Manufacturing operations are anchored at the FF aiFactory California facility in Hanford, California. A significant portion of direct materials is sourced from China as of December 31, 2025. FFAI acquired a controlling interest in AIXC on September 29, 2025, intended as a platform for future crypto-related initiatives, though no active crypto operations were conducted during 2025.

Revenue model

Transactional vehicle sales with bundled services. Revenue recognized at delivery for vehicle hardware; OTA software update revenue recognized over time on a straight-line basis as a stand-ready obligation. Bundled services include home charger, installation, roadside assistance, OTA updates, internet connectivity, and destination fees.

Products and services

FF 91 2.0 Futurist Alliance (ultra-premium battery-electric vehicle, first delivered August 2023); planned FF 92 upgrade program; planned FX Series vehicles. Proprietary powertrain systems including PT Gen 2.0, FF Echelon Inverter with patented parallel IGBT technology, and modular Variable Platform Architecture (VPA). Bundled ownership services including OTA updates, roadside assistance, and connectivity.

Customers and end markets

Premium and ultra-premium passenger vehicle buyers in the United States. Co-Creator user base engaged for product feedback. Middle East market pursued via FF Middle East executive presence. End market is consumer battery-electric vehicles.

Value-chain role

Vertically integrated EV designer and manufacturer. Develops proprietary powertrain hardware, inverter technology, and software in-house. Plans asset-light distribution through partner-owned retail stores and showrooms, compensating partners via sales commissions and equity incentives.

Geographic exposure

Primary operations in the United States, with manufacturing at Hanford, California. Significant direct materials sourcing from China as of December 31, 2025, creating tariff exposure. Middle East and broader EV markets identified as areas of interest.

Source: SEC 10-K, filed 2026-03-31

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