Faraday Future stock budges higher amid production update and AI push

Faraday Future stock (FFIE) edged higher, closing at $1.39, up from $1.37 the previous day. This modest uptick followed a multi-day losing streak, with the stock slipping from $1.60 on February 21 to $1.37 by Tuesday.

While there isn’t a single reason for the rebound, one piece of news that could explain investors' optimism is that Faraday revealed that its FX 6 prototypes are being shipped to Los Angeles for U.S. testing.

However, despite these developments, the stock's earlier decline came after images of the FX 6 prototypes, draped in black and white camouflage resembling a QR code, surfaced in Los Angeles.

The stock also saw a boost after Faraday Future partnered with IDENTA to create a keycard for its vehicles, allowing for smart entry and recharging capabilities. The announcement helped push the stock up 1.46% on Wednesday to reach $1.49.

Last week, the company also revealed plans to expand its recruitment efforts, focusing on hiring top-tier AI talent.

"AI is integral to the future of Faraday Future, and we are committed to attracting top-tier AI talent to accelerate our vision of delivering next-generation vehicles," said a company spokesperson in a Feb 19 release.

When will Faraday Future cars go into production?

Faraday has been promising to finally produce its first cars, but to date, it hasn’t mass-produced any vehicles since its concept car debuted in 2017.

The company stated it would produce at least one model from its Super One, FX 5, and FX 6 lines this year. The FX 5 is expected to retail between $20,000 and $30,000, while the FX 6 is projected to cost between $30,000 and $50,000.

There’s no word yet on the Super One’s price, but a launch is expected in the second quarter as an "advanced intelligence multipurpose vehicle."

Currently, Faraday Future is only offering preorders for its FF 91 2.0 Futurist Alliance, priced at over $300,000. The company reported $6.8 million in sales over the first nine months of 2024.

Faraday Future’s stock has been volatile, with its production delays and financial struggles contributing to dramatic swings in stock price. As recently as May 2024, the stock traded at $72 before dropping after the company delayed its production schedule due to lower demand.

Despite growing optimism this January, when the company previewed its prototype FX models in Las Vegas, the stock fell again.

Financially, Faraday Future’s outlook has improved, with the company reducing its losses. For the first nine months of last year, Faraday reported a net loss of $234.5 million, a significant improvement from 2023.

In January 2025, the company received $30 million in financing from an undisclosed source to support its deliveries.