Faraday Future Intelligent Electric — Announcement of five-year business plan

Faraday Future Intelligent Electric (NASDAQ: FFAI)

Last close As at 08/01/2026

USD1.11

−0.12 (−9.76%)

Market capitalisation

USD221m

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Research: Industrials

Faraday Future Intelligent Electric — Announcement of five-year business plan

On 7 January 2026, Faraday Future Intelligent Electric (FFAI) held its first-ever stockholders’ day, with the company announcing its five-year business plan alongside a three-stage delivery roadmap for the FX Super One following the first pre-production vehicle rolling off the line at its manufacturing facility in Hanford, California, on 21 December 2025. Management also provided financial targets, including becoming EBITDA-positive within three years and achieving an estimated target contribution margin of more than 20%, aligned with its production volumes. In addition, FFAI announced a new product category focusing on ‘Embodied AI Robotics’, with the aim of being the first US company to deliver humanoid robot products to market and becoming a leading US-based robotics company.

Written by

Harry Kilby

Analyst

Industrials

Stockholders’ day review

8 January 2026

Price $1.23
Market cap $250m

Net cash/(debt) at end H125

$(29.0)m

Shares in issue

198.3m
Code FFAI
Primary exchange NASDAQ
Secondary exchange N/A
Price Performance

Business description

Faraday Future Intelligent Electric is a Californian-based electric vehicle (EV) manufacturer focused on luxury EVs with AI integration. The company’s product portfolio centres on the luxury FF 91 and the recently launched FX Super One MPV, targeting premium consumer and commercial markets.

Analysts

Harry Kilby
+44 (0)20 3077 5700
Andrew Keen
+44 (0)20 3077 5700

Faraday Future Intelligent Electric is a research client of Edison Investment Research Limited

Note: EBITDA and EPS are normalised.

Year end Revenue ($m) EBITDA ($m) PBT ($m) EPS ($)
12/22 0.0 (431.6) (602.2) (393.56)
12/23 0.8 (240.6) (431.6) (1,792.44)
12/24 0.5 (75.7) (356.1) (19.20)

FFAI’s cumulative production and sales target for its five-year business plan is between 400,000 and 500,000 vehicles, primarily driven by the FX Super One, the FX 4 and future models. Management’s detailed breakdown of this target includes 250 deliveries in 2026, 4,900 in 2027, 33,000 in 2028, 130,000 in 2029 and 250,000 in 2030. Management also gave a detailed breakdown of the FX Super One’s production and sales target across the same five-year period. During 2026, the FX Super One will undergo three stages of delivery. Phase 1 (Q226) will see FFAI delivering up to 50 vehicles to FX Par co-creation partners. In Phase 2 (Q326), the company will deliver up to 200 units to industry leaders and B2B partners, with full-scale commercial delivery to consumers occurring during Phase 3 (expected in Q426/Q127). Management expects FX Super One delivery volumes to ramp up in the latter years of the five-year plan, with c 55,000 deliveries anticipated in 2030 (cumulative deliveries across the plan are expected at c 116,000). From 2027 onwards, the FX Super One sales targets are anticipated by management to include both its battery electric vehicles (EV) and hybrid extended range EV models.

Management also stated that its after-sales and charging ecosystem will be completed in Q226, with its vehicles having access to Tesla’s supercharger networks across the US, Canada, Japan and South Korea starting in 2026. The company further commented that regulatory and compliance certifications for the FX Super One are progressing on schedule, with completion expected by the end of Q326.

The company stated that, with its entry into the AI robotics segment, it aims to solidify its EAI (Embodied AI) ecosystem and raise FFAI’s long-term growth ceiling. Further information on FFAI’s entry into the humanoid robotics segment is scheduled for 4 February 2026 at the National Automobile Dealers Association Show in Las Vegas, where the company will unveil its first embodied AI robotics product, open public demonstrations and initiate sales immediately.

A recording of FFAI’s stockholders’ day can be found here. For more information on FFAI please see our recently published initiation report.

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