北京時間2026年10月1日—— 總部位於美國加州的全球EAI生態公司Faraday Future Intelligent Electric Inc.（納斯達克代碼：FFAI）（簡稱「Faraday Future」，「FF」或「公司」） 與 FF EAI Robotics Ecosystem Inc.（納斯達克代碼：FFR） （簡稱「FFR」，前身為AIxCrypto Holdings, Inc.）聯合回應投資者關於「FFAI 機器人業務通過FFR獨立上市」的重點提問。
為什麼將機器人業務估值定為約2億美元？
FFAI和FFR認為，機器人業務的價值可能尚未充分反映在公司當前估值中，尤其是考慮到該業務取得的商業化進展、不斷擴大的客群及長期增長潛力。
公司五年規劃目標是：到2030年，累計收入達到19.8億美元、當年出貨約6萬台，毛利率54%；2026全年營收約700萬美元、出貨量約2,000台、毛利率為10%。
實際上，截至2026年上半年，產品已實現正毛利，機器人出貨量處於美國本土領先地位，並持續推進商業化戰略，支持顯著的長期股東價值創造能力。
同時，從美國機器人行業同類公司來看，Agility Robotics目前主要聚焦Digit單一形態人形機器人，應用場景以倉儲物流為主；Figure AI則定位於通用型人形機器人公司，現階段主要推進物流及製造業試點，Figure 03處於小批量生產階段。相比之下，FFR採用「一腦多形、多形多能」的多形態機器人產品路線，覆蓋教育、工業、安防與巡檢及商業服務等多個應用場景。
市場通常基於未來收入倍數來評估 Physical AI及機器人企業，特別是2027年市銷率（P/S）。根據公司預測，2億美元估值對應的2027年預期市銷率約為4.4倍，對比許多同行業企業，為相對謹慎水平，具有一定吸引力。
管理層認為，這種謹慎的估值方式有利於吸引投資者，並保留業務快速增長過程中長期股東價值創造的潛在空間。
雙方為何現在推進這項交易？
具身智能（EAI）行業正迅速從物理原型階段邁向軟件和AI定義的商業化平台階段。
FFR認為，未來EAI機器人領域的價值創造不僅來自硬件，也將來自AI、真實世界數據及智能機器人系統之間的融合。
隨着機構投資者越來越尋求對機器人行業的集中配置，FFR旨在提供覆蓋人工智能平台、機器人產品、數據及商業化的綜合性EAI生態系統。
兩家公司將如何從交易中受益？
對於FFAI而言，本次交易完成後，公司仍為FFR的控制股東，公司和FFAI股東將繼續享有高增長機器人平台的上行潛力。同時，公司業務結構將更聚焦，母公司層面資金需求也將降低，有望讓股東受益。
對於FFR而言，本次交易有助於提供直接獲得增長資本的渠道，以支持商業化和業務擴張。
FFR擁有具有吸引力的商業模式：每交付一台硬件設備即可產生正貢獻利潤，並可通過高毛利軟件授權、平台服務及數據相關收入進一步提升整體經濟效益。
管理層認為，長期價值機會主要來自AI軟件、真實世界數據和生態系統能力的融合，而不僅僅是硬件銷售。
機器人業務將如何為FFR的發展提供資金？
根據五年規劃，機器人業務預計在2028年第三季度實現單季經營性現金流轉正。如交易按預期完成，作為上市公司，FFR計劃採取嚴格的里程碑式資本配置策略，包括分階段開展後續股權孖展、引入戰略投資，並根據商業化、生產及運營里程碑安排債務孖展。
FFAI未來將在FFR中發揮什麼作用？
FFAI預計將作為FFR的基礎機構股東，繼續保持控制股東地位，同時擔任FFR的長期戰略合作伙伴。
管理層預計，FFAI將繼續通過業務孵化、戰略投資、運營協作、行業關係資源及潛在資本支持等方式支持FFR發展，並推動更廣泛Physical AI生態中的協同效應。
該交易將如何加速機器人業務商業化和收入增長？
本次交易預計將支持公司的業務增長規劃：公司收入預計將從2026年上半年約114萬美元，增長至2026年約710萬美元、2027年約4,520萬美元，且到2030年累計達到約19.8億美元。
交易預計還將通過擴大真實世界遠程操控數據及仿真數據的商業化機會，加速公司數據生態建設，並形成軟件、平台及數據集等經常性收入來源。
此外，作為一家獨立上市公司所擁有的更大運營和財務靈活性，預計將支持RoboShare業務擴張。
RoboShare是公司的機器人即服務（RaaS）的共享租賃平台，旨在降低客戶採用門檻、擴大機器人部署機會，並創造更加可預測的經常性收入。
獲取本次擬定交易的詳情，請查閱公司於2026年9月28日向SEC提交的8-K文件：SEC Filings – Faraday Future
更多信息，歡迎訪問：
FFAI官網：www.ffai.com
FFAI投資者關係： https://investors.ffai.com/
FFX官網：www.ff.com
FFX投資者關係： 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
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