Faraday Future Intelligent Electric Inc.NASDAQ: FFAI

Emerging Growth Research Issues Flash Report on Faraday Future Intelligent Electric

· Issued by Faraday Future Intelligent Electric Inc. via ACCESS Newswire

NEW YORK CITY, NY / ACCESS Newswire / October 2, 2026 / Emerging Growth Research ("Emerging Growth Research" or "EGR") today announced the release of its company-sponsored research flash report on Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI), a physical AI ecosystem company focused on robotics and mobility solutions through AI innovations and technology.

Key Highlights

  • Business Transformation - Faraday Future announced that it is upgrading into a Robotaxi and EAI Cabin (Intelligent cabin) shared mobility operations company and a Physical AI investment holding company, while evolving its automotive business from an EV manufacturer to a Robotaxi shared-mobility operator.
  • Robotics Business Transaction - Faraday Future plans to transfer the assets of its robotics business to FF EAI Robotics, formerly AIxC, which has changed its ticker symbol to FFR. FFR proposes to acquire and consolidate FFAI's robotics assets and businesses at a market-based valuation of approximately $200 million.
  • Proposed Ownership Structure - Upon completion of the proposed transaction, FFAI is expected to become FFR's single largest controlling stockholder. FFAI also plans to continue increasing its ownership in FFR over time and expects to consolidate FFR's financial results into its own financial statements subject to its resulting ownership interest, applicable accounting standards and definitive agreements.
  • Robotics Growth Projections - Preliminary management projections for the FF EAI Robotics business contemplate approximately $7.1 million of unaudited revenue in 2026 at a positive gross margin and approximately $45.17 million in 2027 at a 30.5% gross margin. Cumulative 2026-2030 revenue is projected at approximately $1.98 billion, with cumulative EAI Device sales exceeding 130,000 units.
  • Path to Positive Operating Cash Flow - Based on preliminary management projections, the FF EAI Robotics business is projected to reach positive operating cash flow in the third quarter of 2028.
  • Capital Structure Under Review - EGR notes that the capital structure and remaining assets and liabilities of FFAI are not entirely clear based on currently publicly available information. EGR's financial models are under review and will be updated when sufficient information becomes publicly available.

Full Report

The full Faraday Future Intelligent Electric, Inc. Flash Report from Emerging Growth Research is available at:

https://app.accessnewswire.com/media/1230328/ffaiq326flash-report.pdf

or

https://emerginggrowth.com/profile/ffai/ (on the right side of the page as you scroll down)

About Faraday Future Intelligent Electric, Inc.

Faraday Future Intelligent Electric, Inc. (NASDAQ:FFAI) is a physical AI ecosystem company dedicated to reshaping the future of robotics and mobility solutions through AI innovations and technology. The Company focuses on embodied AI robotics, including EAI humanoid and bionic robots, EAI automotive-focused robots and the EAI Brain. During Q2:26, the Company expanded its strategy into a Four-Core, Full-Stack AI ecosystem encompassing the EAI Brain, EAI Devices, EAI Data Factory, and Industry Productivity Solutions and Developer Platform.

About Emerging Growth Research

Emerging Growth Research LLC ("EGR") is a research firm focused on emerging growth companies, including small-, micro- and nano-cap companies across healthcare, biotechnology, energy, metals and mining, technology and other emerging industries. EGR provides research reports, quarterly updates, flash reports and other investor-focused content covering emerging growth companies.

Emerging Growth Research also provides company-sponsored research services. The research referenced in this press release is company-sponsored research.

Contact:

Emerging Growth Research Research@EmergingGrowth.comwww.EmergingGrowth.com

Forward-Looking Statements

This press release contains forward-looking statements concerning Faraday Future's business transformation, the proposed robotics transaction, ownership and consolidation of FF EAI Robotics, financial projections, operating cash flow expectations, commercialization initiatives, future revenue opportunities and growth expectations. These statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied. Important risk factors include, but are not limited to, uncertainty regarding the capital structure and remaining assets and liabilities of FFAI, the completion and terms of the proposed transaction, demand for the Company's products, the Company's ability to commercialize its robotics and AI technologies, manufacturing and deployment challenges, the timing and amount of future revenue, the Company's ability to raise additional capital, potential dilution, competition, technology development risks, and the Company's ability to execute its business strategy.

Disclosure

This report was prepared for institutional and professional investors ONLY, and it is also known as Company Sponsored Research ("CSR"). Collectively, however ("EGR Report(s)").

Be advised that this EGR Report is being provided by Emerging Growth Research LLC (EGR) solely for informational purposes, is not the opinion of EmergingGrowth.com (EG), should not be construed as an offer or solicitation to buy or sell securities, and should not be considered in any decision to buy or sell any security mentioned within the EGR Reports. All information contained in the EGR Report as well as on the EmergingGrowth.com website is obtained from sources believed to be reliable but not guaranteed to be accurate or all-inclusive, timely, or correct. The information includes certain forward-looking statements, which may be affected by unforeseen circumstances and / or certain risks. Because EGR is compensated as detailed herein and EG receives Licensing fees from EGR, as also detailed herein, EG and EGR have a conflict of interest and strongly urge you to consult your own independent financial, investment, tax, and legal advisors prior to purchasing or selling any securities mentioned herein.

The analyst that has prepared and is responsible for the content of this report has stated that neither he/she, nor any of his/her associates both professional and personal, to the best of his/her knowledge have no personal or professional relationship with any of the companies or principals of any companies mentioned within, other than providing services that EGR may offer.

EGR is being compensated by the subject Company of this report. EGR was paid twenty-six thousand dollars and expects to receive an additional two thousand dollars over the following five months. EGR may have also received additional past compensation, EGR may receive future compensation, and EG may receive compensation for additional services such as presenting on the Emerging Growth Conference or investor or public relations services, details about which can be found in the full disclosure, here: (https://emerginggrowth.com/faraday-egr-report-disclosure/).

It is the intent of EGR to provide continuing coverage on a quarterly basis, or otherwise for the subject Company of this report; however, EGR and EG will not notify readers of this report if coverage by EGR, for any reason is terminated.

The reader or user of this content agrees that neither EGR and / or EG nor the analysts, directors, officers, employees, representatives, independent contractors, agents or affiliates of EGR and EG shall be liable or held liable for any omissions, errors, or inaccuracies, regardless of cause, foreseeability, or the lack of timeliness of this or any of our other reports to users. This lack of liability extends to direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, losses, lost income, lost profit, or opportunity costs.

Again, all information contained herein should be independently verified by your own research and your own independent financial, investment, tax, and legal advisors prior to purchasing or selling any securities mentioned herein.

In addition to the specific disclosures mentioned herein, you are encouraged to read our general disclosure here: EmergingGrowth.com/Disclosure.

Rating Definitions

Buy, 30% or greater price appreciation in the next 12 months.

Buy-Extended, near-term EPS and/or revenue horizon is challenging with strong long-term appreciation possibility.

Buy-Emerging, initial stages with low revenue and the potential for large returns with higher risk and volatility.

Hold, perform similar to market.

Sell, 30% or more decline in the next 12 months.

© Copyright 2026 Emerging Growth Research LLC

No part of this material may be copied, photocopied, or duplicated in any form by any means or redistributed without the prior written consent of Emerging Growth Research LLC.

SOURCE: Faraday Future Intelligent Electric Inc.

View the original press release on ACCESS Newswire

Attached document

Contents
  1. About the Company · page 1
  2. EMERGING Growth Research · page 1
  3. FFAI Announces Business Transformation, Rating and Price Target Under Review. Faraday · page 1
  4. Rating and Price Target Under Review. Faraday · page 1
  5. Investment Thesis · page 1
  6. Key Risks · page 1
  7. Transformation Details · page 2
  8. Important Disclosures · page 3
  9. Rating Definitions · page 3
  10. © Copyright 2026 Emerging Growth Research LLC · page 3

Page 1

Faraday Future Intelligent Electric Inc Nasdaq: FFAI

October 2, 2026

Price (close on October 1, 2026) $1.25

Rating Under Review

12- Month Target Price Under Review

David P. Marsh, CFA

Research@EmergingGrowth.com

About the Company

Faraday Future Intelligent Electric, Inc. (FFAI) is a physical AI ecosystem company dedicated to reshaping the future of robotics and mobility solutions through AI innovations and technology. The Company focuses on two major product strategies within the embodied AI robotics business: EAI humanoid and bionic robots and EAI automotive focused robots.

EMERGING Growth Research

52-Week Range$1.20 – $252.00
Shares Outstanding4.61 mil
Insider/Institutional0.0%/13.9%
Public Float$91.6 mil
Market Capitalization$91.8 mil
Total Debt$50.6 mil
Debt / Equity--
ROE (LTM)NM
Book Value / ShareNM
Daily Volume (90-day)35,710,506
Fwd. Div. & Yield--

FFAI Announces Business Transformation, Rating and Price Target Under Review. Faraday

Rating and Price Target Under Review. Faraday

Future Intelligent Electric, Inc (FFAI) recently announced the transformation of the business to a robotaxi and EAI cabin technology operator and physical AI holding company. FFAI plans to combine its robotics business with the Company previously known as AIxC, which is now trading under the symbol FFR. We are unable to determine the new capital structure of FFAI at this time and are placing our rating and price target Under Review until more information becomes publicly available.

FYE Dec Revenue ($ mil.)FY 2025A ACTUALFY 2026E CURRENTFORMERFY 2027E CURRENTFORMER
Q1 Mar$0.3A$0.5A$0.5A$3.6E$7.5E
Q2 Jun$0.1A$0.8A$2.3E$6.2E$12.0E
Q3 Sep$0.0A$1.9E$3.9E$9.9E$18.6E
Q4 Dec$0.1A$2.8E$5.8E$12.2E$26.1E
Year*$0.5A$6.0E$12.5E$32.0E$64.2E
Change(1)%1,020%433%
FYE Dec EPS ($)FY 2025A ACTUALFY 2026E CURRENTFY 2026E FORMERFY 2027E CURRENTFY 2027E FORMER
Q1 Mar$(20.35)A$(27.17)A$(27.17)A$(6.62)E$(7.36)E
Q2 Jun$(180.32)A$(17.38)A$(11.90)E$(6.35)E$(6.42)E
Q3 Sep$(232.80)A$(7.64)E$(9.68)E$(5.68)E$(4.84)E
Q4 Dec$(32.96)A$(7.03)E$(8.27)E$(5.29)E$(2.40)E
Year*$(479.18)A$(50.64)E$(52.13)E$(23.88)E$(20.85)E
P/E Ratio ChangeNM NMNM NMNM NM

Investment Thesis

➢ Faraday Future Intelligent Electric Inc. (FFAI) recently announced the transformation of the business to a robotaxi and EAI cabin technology operator and physical AI holding company. FFAI plans to combine its robotics business with the Company previously known as AIxC, which is now trading under the symbol FFR.

➢ Based upon publicly available information, it is not clear what the capital structure and operating assets of FFAI will be moving forward. As a result, we are placing our rating and price target under review until more concrete information becomes available.

➢ Under the terms of the transaction, FFR proposes to acquire and consolidate FFAI's robotics assets and businesses at a marketbased valuation of approximately $200 million, aiming to become the first Nasdaq-listed pure-play robotics ecosystem company built on a "Four-Core Full-Stack" AI ecosystem in the U.S.

➢ Under preliminary projections, the business is projected to reach positive operating cash flow in the third quarter of 2028. Those projections contemplate unaudited revenue of approximately $7.1 million in 2026 and approximately $45.17 million in 2027.

Key Risks

➢ FFAI is cash flow negative and will likely need to raise additional capital to fund growth before the Company begins generating positive EBITDA and cash flow.

➢ Near-term and long-term demand for the Company’s products is uncertain. FFAI may not be able to generate sufficient revenue to grow into its capital structure, which could lead to investor losses.

Page 2

EMERGING Growth Research

Faraday Future Intelligent Electric Inc. Nasdaq: FFAI October 2, 2026 Flash Report

Faraday Future Intelligent Electric, Inc. (FFAI) is a physical AI ecosystem company dedicated to reshaping the future of robotics and mobility solutions through AI innovations and technology.

Transformation Details

On September 28, 2026, FFAI announced that it is upgrading into a Robotaxi and EAI Cabin (Intelligent cabin) shared mobility operations company and a Physical AI investment holding company. FFAI is evolving its automotive business from an EV manufacturer to a Robotaxi shared-mobility operator. The Company aims to advance its "Four Future Trends" concept, once again helping to drive automotive-industry transformation.

FFAI will transfer the assets of its robotics business to AIXC, which has changed its name to FF EAI Robotics and changed its ticker symbol to FFR. FFR proposes to acquire and consolidate FFAI's robotics assets and businesses at a marketbased valuation of approximately $200 million, aiming to become the first Nasdaq-listed pure-play robotics ecosystem company built on a "Four-Core Full-Stack" AI ecosystem in the U.S. Now both the Board of FFAI and AIxC have approved the Term sheet.

Upon completion of the proposed transaction, FFAI is expected to become FFR's single largest controlling stockholder. This result would mark FFAI's successful incubation of a Nasdaq-listed EAI robotics company. FFAI also plans to continue increasing its ownership in FFR over time. FFAI is expected to consolidate FFR's financial results into its own financial statements, subject to FFAI's resulting ownership interest and applicable accounting standards, and to the definitive agreements.

Under preliminary projections prepared by FFAI management for the FF EAI Robotics business on a standalone basis, the business is projected to reach positive operating cash flow in the third quarter of 2028. Those projections contemplate unaudited revenue of approximately $7.1 million in 2026 at a positive gross margin and approximately $45.17 million in 2027 at 30.5%, cumulative 2026–2030 revenue of approximately $1.98 billion with gross margins expected to improve over time, along with growing cumulative EAI Device sales exceeding 130,000 units.

At this time, the capital structure and remaining assets and liabilities of FFAI are not entirely clear, based upon current publicly-available information. Therefore, we are placing our price target and rating on the stock under review until sufficient information becomes available for us to complete a fundamental valuation of the enterprise. Our financial models are under review and will be updated and published when sufficient information becomes publicly available.

2 | Faraday Future Intelligent Electric Inc.

David P. Marsh, CFA

Page 3

Important Disclosures

This report was prepared for institutional and professional investors ONLY, and it is also known as Company Sponsored Research ("CSR"). Collectively, however ("EGR Report(s)").

Be advised that this EGR Report is being provided by Emerging Growth Research LLC (EGR) solely for informational purposes, is not the opinion of EmergingGrowth.com (EG), should not be construed as an offer or solicitation to buy or sell securities, and should not be considered in any decision to buy or sell any security mentioned within the EGR Reports. All information contained in the EGR Report as well as on the EmergingGrowth.com website is obtained from sources believed to be reliable but not guaranteed to be accurate or all-inclusive, timely, or correct. The information includes certain forward-looking statements, which may be affected by unforeseen circumstances and / or certain risks. Because EGR is compensated as detailed herein and EG receives Licensing fees from EGR, as also detailed herein, EG and EGR have a conflict of interest and strongly urge you to consult your own independent financial, investment, tax, and legal advisors prior to purchasing or selling any securities mentioned herein.

The analyst that has prepared and is responsible for the content of this report has stated that neither he/she, nor any of his/her associates both professional and personal, to the best of his/her knowledge have no personal or professional relationship with any of the companies or principals of any companies mentioned within, other than providing services that EGR may offer.

Show more of the filing

EGR is being compensated by the subject Company of this report. EGR was paid twenty-six thousand dollars and expects to receive an additional two thousand dollars over the following five months. EGR may have also received additional past compensation, EGR may receive future compensation, and EG may receive compensation for additional services such as presenting on the Emerging Growth Conference or investor or public relations services, details about which can be found in the full disclosure, here: (https://emerginggrowth.com/faraday-egr-report-disclosure/).

It is the intent of EGR to provide continuing coverage on a quarterly basis, or otherwise for the subject Company of this report; however, EGR and EG will not notify readers of this report if coverage by EGR, for any reason is terminated.

The reader or user of this content agrees that neither EGR and / or EG nor the analysts, directors, officers, employees, representatives, independent contractors, agents or affiliates of EGR and EG shall be liable or held liable for any omissions, errors, or inaccuracies, regardless of cause, foreseeability, or the lack of timeliness of this or any of our other reports to users. This lack of liability extends to direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, losses, lost income, lost profit, or opportunity costs.

Again, all information contained herein should be independently verified by your own research and your own independent financial, investment, tax, and legal advisors prior to purchasing or selling any securities mentioned herein.

In addition to the specific disclosures mentioned herein, you are encouraged to read our general disclosure here: EmergingGrowth.com/Disclosure.

Rating Definitions

Buy, 30% or greater price appreciation in the next 12 months.

Buy-Extended, near-term EPS and/or revenue horizon is challenging with strong long-term appreciation possibility. Buy-Emerging, initial stages with low revenue and the potential for large returns with higher risk and volatility.

Hold, perform similar to market.

Sell, 30% or more decline in the next 12 months.

© Copyright 2026 Emerging Growth Research LLC

No part of this material may be copied, photocopied, or duplicated in any form by any means or redistributed without the prior written consent of Emerging Growth Research LLC.

3 | Faraday Future Intelligent Electric Inc.

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