On May 18, Faraday Future (FF) founder Jia Yueting issued a letter to investors, announcing that the company had completed the latest round of financing of US$25 million, and the recent cumulative financing amount reached US$70 million. Jia Yueting, who returned as FF global CEO last week, said that the funds are sufficient to support the first phase of the company's strategic goals in the robotics business.
Jia Yueting stated in the letter that the goal is to "lead the team to realize the dream that has not been completed in the past 12 years in two years" and to reconstruct FF into a physical AI ecological company with the core concepts of "AI First" and "Shareholders First".To this end, FF has launched five major changes simultaneously:
strategic change.FF has officially upgraded to an American physical AI ecosystem company, focusing on two major product engines - EAI humanoid and bionic robots, and EAI automotive robots, to create a "terminal-data-brain" trinity ecosystem, with the goal of becoming the top three EAI robots in real-life scene deployment in North America and the leader of EAI automotive MPVs within five years.
Product technology and business changes.Focusing on giving priority to the robot business, the shipment target for 2026 has been raised from 1,000 units to 1,500 units. Focus on the education scene, especially family education, and regard it as the number one scene in the first phase of the To C robot market. At the same time, we promote brain productization, developer platform construction and data factory commercialization.
financial change.The goal is to achieve positive operating cash flow in the fourth quarter of 2027. Core measures include guarding the bottom line of comprehensive positive gross profit for terminal business, shifting from reliance on financing to operating cash flow-driven, and reconstructing cost control through AI.
capital transformation.It promises to "push FFAI's market value back to the level when it was listed on Nasdaq in 2021 within two years" and regard it as the core assessment anchor within the company. The recent US$70 million financing is the starting point for the transformation of the financing structure. In the future, medium and long-term financial and strategic investors will be introduced to gradually get rid of highly dilutive short-term financing.
AI system transformation.Build the company itself into AI, comprehensively upgrade it to the "AI-PPTI" management system, and build an AI-Native enterprise operating system and a "real person + AI Agent" hybrid organization.
In addition, FF's Middle East business goal is to achieve positive operating cash flow, with more than 200 robots sold and deployed, covering three countries. The company also stated that on the premise of completing medium- and long-term financing and meeting the mass production funds of FX Super One, it will comprehensively promote the EAI automotive business and form a dual growth engine.
Jia Yueting emphasized in the letter: "FF will reshape organizational execution with the spirit of the founder and the spirit of partnership, and enter a combat state of '0 excuses, 0 internal friction, and result-oriented'." He also said that the era of Physical AI has arrived, and "FF's brightest days are ahead."