北京时间2026年10月1日—— 总部位于美国加州的全球EAI生态公司Faraday Future Intelligent Electric Inc.（纳斯达克代码：FFAI）（简称“Faraday Future”，“FF”或“公司”） 与 FF EAI Robotics Ecosystem Inc.（纳斯达克代码：FFR） （简称“FFR”，前身为AIxCrypto Holdings, Inc.）联合回应投资者关于“FFAI 机器人业务通过FFR独立上市”的重点提问。
为什么将机器人业务估值定为约2亿美元？
FFAI和FFR认为，机器人业务的价值可能尚未充分反映在公司当前估值中，尤其是考虑到该业务取得的商业化进展、不断扩大的客群及长期增长潜力。
公司五年规划目标是：到2030年，累计收入达到19.8亿美元、当年出货约6万台，毛利率54%；2026全年营收约700万美元、出货量约2,000台、毛利率为10%。
实际上，截至2026年上半年，产品已实现正毛利，机器人出货量处于美国本土领先地位，并持续推进商业化战略，支持显著的长期股东价值创造能力。
同时，从美国机器人行业同类公司来看，Agility Robotics目前主要聚焦Digit单一形态人形机器人，应用场景以仓储物流为主；Figure AI则定位于通用型人形机器人公司，现阶段主要推进物流及制造业试点，Figure 03处于小批量生产阶段。相比之下，FFR采用“一脑多形、多形多能”的多形态机器人产品路线，覆盖教育、工业、安防与巡检及商业服务等多个应用场景。
市场通常基于未来收入倍数来评估 Physical AI及机器人企业，特别是2027年市销率（P/S）。根据公司预测，2亿美元估值对应的2027年预期市销率约为4.4倍，对比许多同行业企业，为相对谨慎水平，具有一定吸引力。
管理层认为，这种谨慎的估值方式有利于吸引投资者，并保留业务快速增长过程中长期股东价值创造的潜在空间。
双方为何现在推进这项交易？
具身智能（EAI）行业正迅速从物理原型阶段迈向软件和AI定义的商业化平台阶段。
FFR认为，未来EAI机器人领域的价值创造不仅来自硬件，也将来自AI、真实世界数据及智能机器人系统之间的融合。
随着机构投资者越来越寻求对机器人行业的集中配置，FFR旨在提供覆盖人工智能平台、机器人产品、数据及商业化的综合性EAI生态系统。
两家公司将如何从交易中受益？
对于FFAI而言，本次交易完成后，公司仍为FFR的控制股东，公司和FFAI股东将继续享有高增长机器人平台的上行潜力。同时，公司业务结构将更聚焦，母公司层面资金需求也将降低，有望让股东受益。
对于FFR而言，本次交易有助于提供直接获得增长资本的渠道，以支持商业化和业务扩张。
FFR拥有具有吸引力的商业模式：每交付一台硬件设备即可产生正贡献利润，并可通过高毛利软件授权、平台服务及数据相关收入进一步提升整体经济效益。
管理层认为，长期价值机会主要来自AI软件、真实世界数据和生态系统能力的融合，而不仅仅是硬件销售。
机器人业务将如何为FFR的发展提供资金？
根据五年规划，机器人业务预计在2028年第三季度实现单季经营性现金流转正。如交易按预期完成，作为上市公司，FFR计划采取严格的里程碑式资本配置策略，包括分阶段开展后续股权融资、引入战略投资，并根据商业化、生产及运营里程碑安排债务融资。
FFAI未来将在FFR中发挥什么作用？
FFAI预计将作为FFR的基础机构股东，继续保持控制股东地位，同时担任FFR的长期战略合作伙伴。
管理层预计，FFAI将继续通过业务孵化、战略投资、运营协作、行业关系资源及潜在资本支持等方式支持FFR发展，并推动更广泛Physical AI生态中的协同效应。
该交易将如何加速机器人业务商业化和收入增长？
本次交易预计将支持公司的业务增长规划：公司收入预计将从2026年上半年约114万美元，增长至2026年约710万美元、2027年约4,520万美元，且到2030年累计达到约19.8亿美元。
交易预计还将通过扩大真实世界远程操控数据及仿真数据的商业化机会，加速公司数据生态建设，并形成软件、平台及数据集等经常性收入来源。
此外，作为一家独立上市公司所拥有的更大运营和财务灵活性，预计将支持RoboShare业务扩张。
RoboShare是公司的机器人即服务（RaaS）的共享租赁平台，旨在降低客户采用门槛、扩大机器人部署机会，并创造更加可预测的经常性收入。
获取本次拟定交易的详情，请查阅公司于2026年9月28日向SEC提交的8-K文件：SEC Filings – Faraday Future
更多信息，欢迎访问：
FFAI官网：www.ffai.com
FFAI投资者关系： https://investors.ffai.com/
FFX官网：www.ff.com
FFX投资者关系： https://investors.ff.com/
Faraday Future Intelligent Electric Inc. (FFAI) and FF EAI Robotics Ecosystem Inc. (Nasdaq: FFR) Jointly Address Key Investor Questions Regarding the Proposed Combination of FFAI's Robotics Business
Los Angeles, CA (Oct. 1, 2026) -- Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) (“Faraday Future”, “FF” or the “Company”), a California-based global Embodied AI (EAI) ecosystem company, and FF EAI Robotics Ecosystem Inc. (Nasdaq: FFR), formerly known as AIxCrypto Holdings, Inc., today jointly addressed several of the most frequently asked investor questions regarding the proposed acquisition of FFAI’s EAI Robotics business.
Why is the robotics business worth $200 million?
We believe Faraday Future's robotics business may not yet be fully reflected in the Company's current valuation, particularly in light of its commercialization progress, expanding customer adoption, and long-term growth potential. Under its five-year business plan, the business is targeting $1.98 billion in cumulative revenue by 2030, annual shipments of approximately 60,000 units, and 54% gross margin, compared to an estimated $7 million in revenue, approximately 2,000 units shipped, and 10% gross margin for full-year 2026. As of the first half of 2026, the business had achieved positive gross margins, established a leading position based on robot shipments, and continued to execute on its commercialization strategy, supporting the potential for significant long-term shareholder value creation.
The market often evaluates Physical AI and robotics companies based on forward revenue multiples, particularly projected 2027 price-to-sales (P/S) ratios. Based on management's projections, the proposed valuation implies an estimated 2027 forward P/S multiple of approximately 4.4x, which compares favorably and remains relatively conservative versus many industry peers. Management believes this disciplined valuation approach provides a compelling entry point for investors while preserving significant potential for long-term shareholder value creation as the business continues its rapid growth trajectory.
Why is the transaction necessary and why now?
The Embodied AI (EAI) sector is rapidly evolving from physical prototypes to software-defined commercial platforms. FFR believes that a significant portion of future value creation in EAI robotics will come not only from hardware, but from the integration of AI software, real-world data, and intelligent robotic systems. As institutional investors increasingly seek focused exposure to the robotics sector, FFR aims to provide access to a comprehensive EAI ecosystem spanning AI platforms, robotics products, data, and commercialization.
How will each company benefit?
For FFAI, the proposed transaction enables the Company to retain a majority controlling ownership position in FFR following closing. As a result, FFAI stockholders would continue to participate in the potential upside of a high-growth robotics platform while benefiting from a more focused corporate structure and reduced capital requirements at the parent-company level. For FFR, the transaction is expected to provide direct access to growth capital to support commercialization and expansion. FFR expects that the robotics business will operate an attractive financial model in which each hardware unit delivered generates a positive contribution margin, further enhanced by high-margin software licensing, platform services, and data-related revenue streams. FFR management believes the greatest long-term value opportunity resides in the integration of AI software, real-world data, and ecosystem capabilities, rather than hardware sales alone.
How will the robotics business fund its growth?
The five-year business plan targets positive quarterly operating cash flow by the third quarter of 2028. Assuming the transaction closes as expected, as a public company, FFR intends to pursue a disciplined, milestone-based capital allocation strategy, including staged follow-on equity financings, strategic partner investments, and debt facilities aligned with key commercialization, production, and operating milestones.
What role will FFAI play in the future of FFR?
FFAI is expected to serve as FFR’s foundational institutional shareholder, remain as controlling stockholder, and long-term strategic partner. Management anticipates that FFAI will continue to support FFR’s growth through business incubation, strategic investments, operational collaboration, access to industry relationships, and potential capital support, while fostering synergies across the broader Physical AI ecosystem.
How does the deal accelerate commercialization and revenue growth?
The proposed transaction is expected to support the Company's projected growth trajectory, with revenue increasing from approximately $1.14 million in the first half of 2026 to an estimated $7.1 million in 2026, $45.2 million in 2027, and $1.98 billion in cumulative revenue by 2030 under the current business plan. The transaction is also expected to accelerate the development of the Company's data ecosystem by expanding opportunities to monetize real-world teleoperation and simulation data through recurring software, platform, and dataset revenue streams. In addition, greater operational and financial flexibility as a standalone public company is expected to support the expansion of RoboShare, the Company's Robotics-as-a-Service (RaaS) platform, which is designed to lower customer adoption barriers, broaden deployment opportunities, and generate more predictable recurring revenue.
ABOUT FARADAY FUTURE
Founded in 2014, Faraday Future (FF) is a U.S.-based Physical AI ecosystem company dedicated to reshaping the future of robotics and mobility solutions through AI innovation and technologies. FF focuses on two major product strategies within the Embodied AI (EAI) robotics business: EAI humanoid and bionic robots, and EAI automotive-focused robots. By building a “Four-Core Full-Stack AI” ecosystem of EAI Brain and Developer Platform, EAI Devices, Industry Productivity Solutions and EAI Data Factory, FF aims to create an evolutionary flywheel: scaled device delivery, data collection and training, continuous evolution of the EAI Brain, stronger product capability, and even larger-scale delivery and deployment. Through this flywheel, FF seeks to maximize its commercial value and lead to the advancement of Physical AI. For more information, please visit Faraday Future’s official website: https://www.ffai.com/
FORWARD LOOKING STATEMENTS
Important factors, that may affect actual results or outcomes include, among others: the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations, which it currently lacks; the availability of sufficient share capital to meet its current obligations and execute on its strategy; the willingness of convertible debt investors to fund the Company; demand for the Company’s robotics products; the ability of B2B preorder companies to locate customers to purchase our robotics products, on which their nonbinding preorders substantially depend; competition in the robotics industry, which includes companies with far superior experience, funding and name recognition; the ability of the Company to build an EAI education ecosystem that serves both the B2C consumer market and the B2B institutional education market; the acceptance by teachers and students of the Company’s robotics products in the education market; the ability of the Company to expand into additional markets for its robotics products; the Company’s reliance on a single OEM for most of its robotics products; the Company’s reliance on Chinese OEMs for all of its robotics products; the possibility of the federal government banning imports of Chinese robotics products; the Company’s ability to get the planned robotics products to comply with all applicable U.S. rules and regulations; the ability of the robotics OEM to timely supply robotics to the Company; the ability of the Company to close its proposed transaction for the purchase of its robotics business by AIxC; tariff uncertainty for imported products, particularly from China; demand from automobile dealers for robotics products; the ability of the Company to evolve from a standalone EAI vehicle manufacturer into a shared-mobility operator; the Company's ability to homologate FX vehicles for sale; the Company’s ability to secure the necessary funding to execute on the FX strategy, which is substantial; the Company’s ability to secure an occupancy certificate covering all of its Hanford facility; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of substantial losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-Q for the quarter ended June 30, 2026, filed with the SEC on August 13, 2026; the quarter ended March 31, 2026, filed with the SEC on May 14, 2026, and Form 10-K filed with the SEC on March 31, 2026, and other documents filed by the Company from time to time with the SEC.
CONTACTS:
Investors (English): ir@ff.com
Investors (Chinese): cn-ir@faradayfuture.com
Media: john.schilling@ff.com
一切，只为初衷的坚守！
订阅Faraday Future官方公众号，
了解FF第一手消息！
FF EAI机器人，点击“阅读原文”预订