Faraday Future Intelligent Electric Inc. (FFAI) shares climbed Wednesday after the electric vehicle maker announced its Middle East subsidiary inked a memorandum of understanding with RAK Digital Assets Oasis, better known as RAK Innovation City.
The partnership isn't just about putting cars on roads. The MOU lays out plans for collaboration across three areas: artificial intelligence, Web3 and the digital economy, and embodied intelligence—essentially, AI that interacts with the physical world.
Here's what they're planning: Faraday Future and RAK Innovation City will jointly establish research and innovation centers. The idea is to pool their technological expertise, industrial resources, and ecosystem strengths to conduct research, testing, and real-world applications in these emerging fields within the UAE.
The collaboration aims to build a future-focused industrial ecosystem and position Innovation City as a model for next-generation urban and industrial development. It's the kind of ambitious vision that sounds good on paper—now comes the execution part.
Second UAE Delivery and Factory Expansion
Following the announcement, Faraday Future held a co-creation delivery ceremony, handing over the FX Super One to RAK Innovation City. That marks the company's second delivery in the UAE, a sign that they're making actual progress beyond just signing agreements.
The company also shared its 2026 roadmap for UAE sales and deliveries and announced plans for Phase II expansion of its Ras Al Khaimah regional factory and operations center. The expansion is meant to boost local production capacity and support growing demand for the FX Super One.
What the Partners Are Saying
Paul Dawalibi, CEO of Ras Al Khaimah Innovation City, said the partnership strengthens Innovation City's innovation ecosystem, calling Faraday Future "one of our most important innovation partners" and a long-term strategic ally aligned with its future-focused vision. He added that the collaboration will advance innovation across AI, embodied intelligence, and Web3, while also congratulating the FX Super One on its progress in the UAE MPV market.
Tin Mok, Head of FF UAE, described RAK Innovation City as a first-of-its-kind, future-oriented urban development platform built around cutting-edge technologies. He said the strategic MOU positions Faraday Future to deploy its capabilities in AI, Web3, and embodied intelligence within Innovation City's integrated ecosystem, adding that the partnership is expected to "create new milestones together" through open collaboration and strong institutional support.
Meanwhile, Back in the States
This month, the company finalized a deposit agreement with a Florida-based operator and investor in high-end vacation rentals for 2,000 FX Super One MPVs.
The deal marks the FX's entry into Florida, one of the nation's largest EV markets, expanding the company's reach to six of the eight target states in its first-phase rollout. That's meaningful progress for a company that's been trying to build momentum in the competitive electric vehicle space.
Faraday Future shares were up 1.68% at $1.21 during premarket trading on Wednesday.