Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) said Monday August sales and shipments of its EAI robotics devices reached a monthly record of 158 units as the company expands its robotics business and restructures its balance sheet.
The California-based company said cumulative robotics sales and shipments reached 552 units through the end of August. Deliveries began in February.
Faraday Future said it continues to maintain positive gross margins at the product level. Faraday Future is targeting 2,000 units for the full year.
Robotics Business Expands
Faraday Future said robot motion control and EAI model training have entered engineering testing and delivery. The company also plans to launch its EAI Robotics Education Ecosystem Solution 1.0 on Sept. 19.
Meanwhile, its EAI Data Factory is in discussions with more than 10 potential customers. The company is also pursuing data orders in Southeast Asia.
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Faraday Future Reduces Potential Dilution
The company also reported progress in restructuring its capital. It canceled more than 33.5 million investment warrants tied to its March 2025 financing. It also canceled nearly 240,000 unissued common stock purchase warrants.
The moves eliminated about 57.48% of the potential dilution associated with that financing on a fully diluted basis, based on current shares outstanding.
‘Built In USA’ Program Advances
The company’s robotics unit also signed a collaboration agreement with AIBOT. It will provide support related to regulatory compliance, engineering, manufacturing, testing and supply chains.
Founder and Global CEO YT Jia disclosed that AIBOT’s founders are related to him. Faraday Future said its audit committee and board reviewed and approved the agreement.
Faraday Future Price Action
FFAI Price Action: Faraday Future shares were up 1.08% at $1.87 during premarket trading on Tuesday, according to Benzinga Pro data.
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