Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) stock rose Wednesday after the company disclosed that its Middle East subsidiary inked a memorandum of understanding (MOU) with RAK Digital Assets Oasis (also known as RAK Innovation City).
The MOU outlines plans for collaboration in three key areas: artificial intelligence (AI), Web3 and the digital economy, and embodied intelligence.
As per the MOU, Faraday Future and RAK Innovation City plan to jointly establish research and innovation centers.
Also Read: Faraday Future EVs To Gain Tesla Supercharger Access Starting 2026
By combining their technological expertise, industrial resources, and ecosystem strengths, the partners aim to conduct research, testing, and real-world applications in AI, embodied intelligence, and Web3 within the UAE.
The collaboration seeks to create a future-focused industrial ecosystem and position Innovation City as a benchmark for next-generation urban and industrial development.
Following the event, Faraday Future conducted a co-creation delivery ceremony, handing over the FX Super One to RAK Innovation City, FF’s second delivery in the UAE.
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 to boost local production capacity and support growing demand for the FX Super One.
Management Commentary
Paul Dawalibi, CEO of Ras Al Khaimah Innovation City, said the partnership with FF strengthens Innovation City’s innovation ecosystem, calling FF “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 FF’s FX Super One on its progress in the UAE MPV market.
Meanwhile, 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 FF 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.
Florida Expansion
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.
This deal marks 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.
FFAI Price Action: Faraday Future shares were up 1.68% at $1.21 during premarket trading on Wednesday, according to Benzinga Pro data.
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