FF EAI Robotics Ecosystem (NASDAQ:FFR) said it has signed definitive agreements to acquire Faraday Future’s full EAI Robotics Ecosystem business in an all-stock transaction valued at approximately $200 million, while also securing up to $10 million in common-stock private investment in public equity financing.
Chief Executive Officer Jerry Wang said the transaction would transfer Faraday Future’s robotics business, held by FF EAI Robotics Inc., to FFR. Faraday Future would receive approximately 89 million FFR shares, including options assumed for the robotics team, at a fixed price of $2.246 per share.
Financing and Ownership Structure
FFR also announced a common-stock-only PIPE financing of up to $10 million at $1.50 per share. Wang said the financing carries no warrants and no discount. He characterized the PIPE as an example of the type of future financing the company would consider as it seeks to limit dilution.
Management said the transaction values FFR’s fully diluted equity at roughly $60 million and the robotics business at about $200 million. Wang said the valuation was supported by a special committee of independent directors and a fairness opinion from an independent valuation expert.
Following shareholder approval, which management expects around December, Faraday Future is expected to own approximately 66% of FFR on a fully diluted basis and about 72% of voting stock. RobotCo employees would hold about 18%, including options, while existing public stockholders would hold approximately 11% and private investors about 5.5%, according to Wang.
Faraday Future is taking its consideration entirely in stock and has agreed to an 18-month lockup, with registration rights beginning after 12 months, Wang said. The company will also remain FFR’s largest stockholder and long-term partner.
Robotics Operations and Product Portfolio
Management said the acquired business operates through four areas: an EAI Brain and developer platform, EAI devices, industry productivity solutions and an EAI Data Factory. Wang described the strategy as a “one brain” approach spanning humanoid robots, quadrupeds and mobile manipulators.
As of the end of September 2026, the robotics business had shipped 817 units, management said, with each unit generating positive gross margin. Monthly shipments increased from 22 units in March to 265 units in September, according to Wang. The device portfolio includes three form factors, five series and 24 models, with listed prices ranging from $1,990 for the Navi learning quadruped to $137,900 for the Aegis Hyper industrial quadruped.
The EAI Brain and Developer Platform has approximately 100 skills and 200 developers, with models fine-tuned on NVIDIA’s GR00T, management said. The Data Factory captured roughly 2,100 hours of real-world data per month in August, has a year-end target of 20,000 hours per month and has surpassed $400,000 in data revenue, Wang said.
FFR’s existing RoboShare business is intended to provide a robot-rental marketplace in which customers can rent equipment before buying it. Wang cited an education customer that initially placed a one-year rental order valued at about $33,000 and subsequently planned to purchase 23 robots across three models. He said rental value is not recognized as revenue.
Production and Financial Targets
Management said it is pursuing a “Built in USA” manufacturing program using Faraday Future’s Hanford facility, with the first robot from the U.S. line targeted for February 2027.
The company’s five-year plan, prepared by Faraday Future management on a standalone basis, calls for 2,001 units and approximately $7 million to $7.1 million in 2026 revenue. The plan projects 7,400 units in 2027 and 60,000 units by 2030, with revenue rising to about $45 million in 2027 and approximately $1 billion in 2030.
Management said the plan projects gross margin expanding from approximately 10% in 2026 to 54% in 2030, while ecosystem and software revenue would increase from 22% of revenue in 2026 to 49% by 2030. EBITDA is projected to turn positive in late 2028 and reach about $361 million in 2030.
Wang emphasized that the five-year plan has not been audited or independently verified and is not company guidance. The plan estimates that cumulative funding needs before financing could peak at approximately $150 million in the third quarter of 2028, when quarterly operating cash flow is projected to become positive. It also includes approximately $300 million in research and development spending and about $98 million in capital expenditures over five years.
About FF EAI Robotics Ecosystem (NASDAQ:FFR)
FF EAI Robotics Ecosystem (NASDAQ: FFR) is a technology company focused on developing an ecosystem that combines artificial intelligence, electric vehicles and robotics. Its activities are centered on intelligent mobility products, software and related services designed to connect vehicles, users and digital technologies.
The company is historically associated with Faraday Future, an electric-vehicle developer known for the FF 91 luxury electric vehicle. The FF 91 was designed as a high-performance, connected vehicle featuring advanced driver-assistance technology, digital services and a premium interior.
