Faraday Future's EAI-Crypto Ecosystem Gains Traction in UAE with Crypto Preorder Milestone

Faraday Future Intelligent Electric Inc. has appointed Chris Nixon Cox, the grandson of former U.S. President Richard Nixon, as a global strategic advisor to accelerate the expansion of its "EAI + Crypto" strategy, a dual-pronged approach combining electric autonomous intelligent (EAI) mobility with blockchain and cryptocurrency integration, according to MarketScreener. The move underscores the company's push to leverage high-profile political and financial connections to bolster investor relations, government partnerships, and industrial collaborations, as MarketScreener noted. Nixon Cox, who serves on the board of the Richard Nixon Foundation and leads Lightswitch Capital, brings expertise in global capital markets and regulatory affairs, which Faraday Future said are critical to its international growth phase.

The announcement follows a strong preorder performance for the company's FX Super One model in the Middle East. Following its October 28 launch in Dubai, the vehicle garnered over 200 non-binding, non-refundable preorder commitments from B2B partners within 24 hours, with three major deals secured, according to a MarketScreener report. Notably, one preorder was completed using USDT (Tether), marking a milestone in Faraday Future's integration of crypto-enabled transactions, according to a GlobeNewswire release. The AIHEREV Max variant, the first FX Super One model introduced in the UAE, is priced at AED 309,000 (approximately $84,000), with additional variants slated for phased releases, as reported in a GlobeNewswire release. The company also announced a partnership with RAK Motors to oversee sales and services in the UAE, aiming to establish a "complete production-to-service ecosystem" in the region, per a MarketScreener note.

Faraday Future's "EAI + Crypto" strategy seeks to merge luxury electric vehicles with on-chain economic systems, a vision articulated by CEO YT Jia during the launch event. "The Middle East is a key accelerator for our strategy," Jia stated, emphasizing the region's potential to bridge AI-driven mobility with blockchain innovation. The company's broader ambitions include expanding its mass-market FX models, which feature hybrid and all-electric power systems, to target consumers in the middle-to-low price range, the MarketScreener report added.

Investor confidence appears to be growing. Vanguard, a global asset management firm, reported holding 7.1 million shares of Faraday Future's NASDAQ-listed stock (FFAI) in the third quarter, a 36% increase from the prior quarter, according to a GlobeNewswire investor update. The company also highlighted a surge in B2C preorders, including one secured by crypto, as part of its weekly investor update.

With Nixon Cox's strategic guidance, Faraday Future aims to deepen its global footprint while navigating regulatory and market challenges in its dual-track approach. The company's ability to scale its EAI and crypto initiatives will likely hinge on maintaining momentum in the UAE and replicating its early successes in other international markets.