Faraday Future has a colorful history. Founded in 2014, it began producing vehicles in 2023. InsideEVs reports that the company had delivered a total of 16 vehicles as of January 2025. Now the company apparently believes that adding AI to the mix will repair its fortunes.
The company now styles itself Faraday Future Intelligent Electric, and says it specializes in “artificial intelligence electric vehicles” (AIEVs). Some investors are convinced: the company recently announced that it has secured approximately $30 million in cash financing commitments. The funds will be used to support the company’s strategy for launching its AIEVs.
Faraday expects the first two prototypes of its AIEVs to arrive in California this month. Product development and testing are scheduled to begin shortly thereafter at its manufacturing plant in Hanford, California.
Faraday Future also announced that it will be insourcing the manufacturing of its FF 91 2.0 vehicle seats, a move that the company expects to significantly improve efficiency.
Matthias Aydt, the company’s Global CEO, said, “The new funding lays a solid foundation for both FF and its new brand as the company approaches the end of 2024 and enters the new year. I am optimistic about the opportunities that this new funding will bring, including supporting the ongoing production of our FF 91 2.0 and the growth of the FX brand.”
Source: Faraday Future
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