Faraday Future: All Robots from China, and the Company States It Itself in the Risk Notices

On Monday, a company rings the Nasdaq bell in New York that was called AIxCrypto four weeks ago. FF EAI Robotics Ecosystem is taking over Faraday Future's entire robot business, valued at around 200 million dollars, signed on October 12 and to be completed by the end of the month. The division has sold 817 units by the end of September, generating approximately 1.52 million dollars in revenue.

The matter becomes explosive through a sentence that Faraday Future itself wrote. In the risk notices of a statement dated August 26, the group states that it relies on Chinese contract manufacturers for all of its robot products, and as its own risk, it names the possibility that the government could ban the import of Chinese robots. This ban has been in effect since July 28.

Anyone who wants to distinguish between the two companies needs a moment. Faraday Future is the California electric automaker that has been selling robots under its own name since January and is listed on the Nasdaq under FFAI. The buyer FF EAI Robotics Ecosystem has been trading under FFR since September 30; previously it was called AIxCrypto Holdings and is currently winding down its crypto holdings. After the transaction closes, Faraday Future will hold approximately 65.7 percent in this buyer, remaining the controlling shareholder. The division is thus being sold less to a third party than into a different stock exchange shell that the seller owns two-thirds of.

The figures being handed over to this shell stand in a remarkable relationship to each other. Management expects around seven million dollars in revenue for the current year, and by 2030 the forecast totals just under 1.98 billion with more than 130,000 units delivered. This contrasts with the aforementioned 817 units sold. The statement explicitly notes that these projections come from Faraday Future management and were not adopted by the buyer as its own forecast.

The situation of the seller explains part of the urgency. As of June 30, Faraday Future reported 11.2 million dollars in liquid funds, half a year earlier it had been 34.9 million, and the loss for the first half of the year was just over 81 million. The quarterly report contains the sentence that there are substantial doubts about the company's ability to continue operations. A separately listed robotics division opens a second path to fresh capital, and that is precisely how this step is being justified.

As for the devices, Faraday Future remains tight-lipped. The documents mention Chinese contract manufacturers and the fact that a single manufacturer supplies most products; the company names no names. The industry service Humanoids Daily concluded in September from technical data that behind the Master Mini model for 9990 dollars lies the K1 platform from Chinese manufacturer Booster. As evidence, it points to the fact that the product page mentions its development tools and controls and that dimensions and joint count also match.

For the larger Futurist, the same service suspects a device from AgiBot, with identical body height and the same battery capacity. None of the companies involved have confirmed this assignment, and such a manufacturing contract would be completely legal anyway.

What matters most, however, is not who builds, but where. Faraday Future has launched a program called Built in USA, and its second stage is called Assembled in USA. Assembly is scheduled to begin in February 2027; the company only speaks of manufacturing in the USA for the fourth quarter of 2028. Everything hinges on this very distinction, because under American procurement law, a domestic product is only one where more than 65 percent of component costs are held in the country. Assembly alone is not sufficient, as the Intel case showed this week.

For a Swiss buyer, this is less a question of geopolitics than of spare parts. If you order a device with an American brand name, you may receive hardware from Hangzhou or Shanghai, with its software, its update cycle, and its spare parts supply. This is not a deficiency as long as you know about it, because foreign devices sold under their own names have been common in industry for decades. It only becomes problematic when the origin gets lost in the sales conversation and later no one can say who is responsible for a repair.

On Monday, New York will celebrate anyway, with a ceremony and investor day at the Nasdaq MarketSite. The company will then call itself America's first publicly traded pure provider of humanoid robots. That its machines come from the country whose robots Washington shut out in July is stated in the same documents published for this occasion.