From $300,000 EVs to dancing bots: The El Segundo firm sliding into Tesla's slipstream
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Set us as preferred After its multibillion-dollar bid to become the next Tesla failed, El Segundo’s Faraday Future is pivoting to humanoid robots.The company says it is applying the expertise and infrastructure it gained through its electric vehicle journey to become a front-runner in the global robot race.
Skeptics say they are still uncertain whether its robots, which can dance, will change its narrative.Its share price has tumbled more than 99% from peaks in 2021 as it has struggled to attract enough buyers for its $300,000 electric vehicles.
At the company’s headquarters on a recent Tuesday, a mini robot waved its arms and moved its feet to a Dua Lipa song.A full-size bot swung its hips and karate kicked to an electronic beat.
It was an impressive display, but the company says the AI-powered humanoids are capable of much more.The robots will be assembled in California and used for education, housework, warehouse jobs and more, said Chris Chen, Faraday Future’s co-chief executive of robotics.
Business Tesla has spent just $2.5 billion of the $25 billion in 2026 capital expenditures it forecast in April, raising questions about whether it’s spending enough to deliver progress.“The robot has to be useful or helpful to people,” said Chen, who has been with the company for more than a decade.
“We are not trying to build a single robot.We are trying to build a holistic physical AI infrastructure.”Faraday Future needs a new business to build buzz because its EV venture has failed to live up to the hype.
The company sold only 16 FF 91 EVs from 2023 to 2025, according to Autoweek.Analysts don’t expect much better performance from the FF 91 2.0, which is available for preorder with a sticker price of $300,000.
Faraday Future’s shares peaked with excitement about its EV plans in 2021 and have been sliding s...