Not even Mariah Carey can stop Faraday Future’s bleeding

Faraday Future Intelligent Electric (FFAI) can’t seem to catch a break.

Financial struggles, blown delivery deadlines, and a brutal sell-off have crushed the stock. Now, the company hopes a Mariah Carey cameo can bring some life back into its growth story.

This weekend, Faraday took to X to celebrate its cameo in Mariah Carey’s new Type Dangerous music video, which also features YouTube star MrBeast. The company’s FF 91 2.0 and FFZERO1 concept cars both made appearances.

“With a surprise appearance by MrBeast, this video brings together Mariah Carey’s hit song, an innovative and creative video, tied together with FF’s exhilarating products!” Faraday posted.

The video has crossed 1.5 million views on YouTube in its first week.

The FFZERO1 concept, inspired by NASA’s zero-gravity designs, remains Faraday’s flashiest showpiece. But it was never built for production unveiled back in 2016, it was mostly a marketing stunt to show off design chops.

The FF 91 Futurist, by contrast, is Faraday’s actual production model.

But even with its AI-powered, digital-first pitch, Faraday is fighting for air in a packed EV market where Tesla, BYD, and established automakers have already locked in most of the real demand.

All hype, no action

Faraday Future Intelligent Electric is a classic growth story that never delivered.

Once pitched as a futuristic EV contender, all Faraday did was poor execution, relentless cash burn, and failure to meet its own delivery targets.

Investors also seem to have lost patience with the company

FFAI is down 59% this year and 93% over the past 12 months. The stock trades around $1.50, a 94.5% collapse from its all-time high of $27.60. The company is currently valued at just $146 million.

Q1 brought a few small wins, though.

Faraday earned $300,000 from 91 EV deliveries and leases. Its net assets rose 21.6% from the previous quarter to $139.8 million. However, losses continue to pile up, with the company posting a net loss of $43.8 million, nearly identical to last year.