Faraday Future Celebrates Major Milestone in its Middle East "Third Pole" Strategy with its New Operations Facility Handover Ceremony in Ras Al Khaimah, UAE

Yahoo

23-05-2025

The facility will support the production of both FF and potential Faraday X (FX) models, enabling the Company to serve diverse customer segments across the Gulf Cooperation Council (GCC) countries, with potential future expansion into Europe and North Africa.
The lease agreement was signed during the Make it in the Emirates 2025 summit in Abu Dhabi, reinforcing Faraday Future's commitment to industrial innovation in the UAE.
RAS AL KHAIMAH, United Arab Emirates, May 23, 2025--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ("Faraday Future", "FF" or "Company"), a California-based global shared intelligent electric mobility ecosystem company, announced that it held a formal handover ceremony for its first regional facility in Ras Al Khaimah, United Arab Emirates, marking a significant milestone in the execution of its Middle East "Third Pole" strategy, alongside the dual-home market strategy in U.S. and China. The project was formally announced on May 21, 2025, during RAKEZ's participation in Make it in the Emirates 2025 in Abu Dhabi, where a lease agreement was signed between RAKEZ and Faraday Future Middle East FZ-LLC, the subsidiary of FF.
The 108,000-square-foot facility will encompass an office, engineering workshop, and operational hub. The facility will support both the FF brand and potential FX models, serving as a hub for operations across the GCC, with potential future expansion into Europe and North Africa.
The handover ceremony event, held at the site of the facility in the Al Hamra area of the Ras Al Khaimah Economic Zone (RAKEZ), signifies FF's official landing in the Middle East and a major step in the Company's strategic global expansion. The ceremony was attended by Faraday Future's Global Co-CEO Matthias Aydt, Chief Financial Officer Koti Meka, Head of Middle East and Executive Director Chui Tin Mok, and Ramy Jallad, Group CEO of RAKEZ, highlighting the significance of this project for both FF and the region.
"This handover event represents a tangible start for both FF and FX in the region," said Matthias Aydt, Global Co-CEO of Faraday Future. "Ras Al Khaimah offers the right infrastructure, visionary leadership, and regional connectivity to support our goal of building an intelligent, sustainable mobility ecosystem. We are proud to build a facility that will not only serve as a gateway to the region but also has the potential to create up to 200 skilled jobs."
RAKEZ played a critical role in enabling FF's smooth entry into the UAE, offering comprehensive support from infrastructure and permitting, to regulatory alignment.
"Faraday Future's entry is more than the launch of a facility—it marks the beginning of a bold new chapter in the region's mobility landscape," said Ramy Jallad, Group CEO of RAKEZ. "As the UAE accelerates toward its green mobility goals, FF's vision and presence in Ras Al Khaimah perfectly align with national ambitions for a sustainable, electric future."
Operations at the new site are expected to commence in the second half of 2025. In the longer term, FF aims to establish regional R&D capabilities, and a localized supply chain anchored in Ras Al Khaimah, reinforcing its vision of sustainable, AI-powered mobility.
ABOUT FARADAY FUTURE
Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit https://www.ff.com/us/.
FORWARD LOOKING STATEMENTS
This release includes "forward looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this release the words "plans," "vision," "will," "future," "expected" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding the Company's Middle East strategy, including establishing operational, sales and production activities in the region, creating jobs in the UAE region, expanding to Europe and North Africa, and potential FX models involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: the Company's ability to secure the necessary funding to execute on the FX strategy and the UAE strategy, which will be substantial; the ability of the Company to execute across multiple concurrent strategies, including the UAE, bridge strategy, FX, EREV, AI, and US geographic expansion; the Company's ability to secure necessary agreements to license or produce FX vehicles in the Middle East or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the Middle East or elsewhere, as necessary; the potential impacts of changing tariff policies; 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; 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 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 cover future warranty claims; 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. The foregoing list of factors is not exhaustive. 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-K filed with the SEC on March 31, 2025, and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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