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Faraday Future said it entered a non-binding term sheet with AIxC, soon to be FFR, for a proposed all-stock acquisition of its robotics assets and businesses at an estimated $200 million valuation. The companies also outlined a potential special stock dividend of $2.246, subject to closing and other conditions.
Faraday Future: Evolving Its Automotive Business From an EV Manufacturer to a Robotaxi Shared-Mobility Operator >FFAI
The company said its board and AIxC have approved a non-binding term sheet for a proposed combination of its robotics assets and business with AIxC, which is expected to be renamed FFR. Faraday Future said it expects to become FFR’s single largest controlling stockholder if the deal closes.
Faraday Future Founder and Global CEO YT Jia shared an update on the company's "Four-Core Full-Stack AI" Ecosystem, detailing the launch of nine new EAI Devices across five models and three product series. Cumulative shipments and sales of FF EAI robots reached 552 units as of the end of August, with an average contrib