Faraday Future and FFR launch FF Nova humanoid robot

FFR to acquire Faraday Future robotics assets for $200 million

FFR will acquire the robotics assets of Faraday Future in an all-stock transaction valued at approximately $200 million. The companies agreed on a valuation of $200 million for the robotics business and $60 million for FFR on a fully diluted basis.

FFR will issue shares to Faraday Future at $2.246 per share, a 50% premium to the closing price of $1.50 on 12 October. Faraday Future will hold approximately 65.7% of FFR upon closing.

Management and employees will hold 18.2% of FFR, with PIPE investors holding 5.5% and other stockholders 10.7%. Newly issued shares are subject to an 18-month lockup, and PIPE investors cannot sell shares for six months or before the registration statement is effective. The freely tradable public float will consist of approximately 13 million shares.

FF Nova features and educational curriculum

The FF Nova features reinforcement learning, autonomous intelligence, and a native developer platform with a Skills Store. It is described as a Physical AI lab in a backpack. The system uses the One Brain, Multi-forms, Multi-capabilities philosophy to empower various robotic forms.

FF introduced the FF Nova Mini for $299 and a curriculum for $499 to support foundational Physical AI education. The Physical AI Spark Program Curriculum provides hands-on practice for families and institutions.

Developers can access the FF Nova Developer Reinforcement Learning Platform, which uses the NVIDIA Isaac platform. FFR aims to build a Four-Core Full-Stack AI ecosystem covering the full lifecycle of robotics. This ecosystem includes the EAI Brain and developer platform, EAI devices, industry solutions, and a data factory.

Three-phase rollout strategy for FF Nova

The release of the FF Nova occurs in three phases. Phase One is by invitation only and limited to 100 units, with 20 delivered immediately.

Phase Two opens to all developers and educational institutions, followed by a full consumer launch. Recruitment for the Nova Developer Community is currently invitation-only, requiring an invitation code.

Products are sold through online channels including FF.com and the official Amazon store, as well as through offline channels.

Strategic shift to embodied AI and robotics

Founder Jia Yueting announced a shift to a physical AI ecosystem, prioritising humanoid and bionic robots. FFR is a U.S.-based embodied AI company currently acquiring the robotics business from Faraday Future.

Upon completion, FFR will focus on the research, manufacturing, and commercialisation of intelligent robotic technologies. FFR will become the first U.S.-listed pure-play Four-Core Full-Stack AI humanoid and bionic robotics company.

The company targets a top-three ranking in the embodied AI robotics industry over the next five years.

AIAA symposium on frontier technology

Faraday Future and the American Institute of Aeronautics and Astronautics hosted an engineering symposium at the company headquarters. More than 50 scholars and professors from leading universities and the AI field attended the event.

FF 91 Futurist production and CEO shareholder update

Faraday Future is five days away from starting production of the FF 91 Futurist at the FF ieFactory California. Founder and CEO YT Jia invested approximately $3 billion over the past nine years.

Jia rescheduled his Investor Weekly Report to 14 October.

Launch event video availability

The full video of the joint product launch event was scheduled for viewing on 15 October at 5:00 p.m. It is available at the official Faraday Future website.