Conference Transcript - FFAI 2026-09-08

Jerry Wang

Greetings, everyone. My name is Jerry Wang. I'm a part of the company called Faraday Future. We are a physical AI ecosystem company located in California, Los Angeles. And stock ticker FFAI, we're publicly traded on NASDAQ. During the 12 years, we spent almost $4 billion to build our product and technology. and this is our full product portfolio. We start as an intelligent electric vehicle company. We build our own car, which is FF91 and FX Super 1. I'll cover more details later. For example, this car, we sold to top celebrities like Maria Carey, Chris Brown, J.S. Oppenheim. Full electric, 0 to 60 only 2.3 seconds with a battery of almost 400 miles per charge. With the latest development, we're expanding and pivot into the robotic field, similar to what Tesla is doing, similar to all the other EV companies like Stellantis is doing. So it's our belief that there will be more robotic devices, like those smart AI robotic devices, more than human beings in approximately 10 years of time. And there is almost no player in this field is delivering robots in the United States as of now. So we are number one. We like to continue to be number one as much as possible. And this is our robotic product. We have the full-size humanoid. This is a beautiful device in here. We have whale-based, we did not bring, but this is more for industrial application. And we have quadrupeds, the robotic dogs. And the dogs are more for safety and surveillance. They can do the automatic walking. It has cameras, it will know you, have facial recognition and for some specific settings on the top head you have lidars and sirens to making sure it everything's well well protected and we have a small very cute one we did not bring here but this is more for ad for education keys learn ai keys learn programming and really wanted to learn something about the robotics how learn how to live together with robotics this is the perfect product for them we started this robotic arm half a year ago we already sold more than 500 550 actually into the united states market we're number one regarding unit of delivery in the us and we're making a positive growth margin we're not only making revenue but also making positive growth margin we reach record high on each month of delivery So there is definitely a very, very good demand of the robots in the United States. And to be honest, there's less competition. I mean, Tesla figure, they're all doing great. But their humanoid won't be ready in the next 6 to 12 months. So basically, we're the only one player in this field selling different kinds of robots right now. So that's a very quick overview. And I will quickly walk through the slides. The headquarters is in El Segundo, Los Angeles. We have a manufacturer facility in Hanford, California. like R&D office in San Jose, Bay Area, small office in New York, and we have office in Beijing, Shanghai, and Dubai, all small offices. This is the highlight of the company. We are founded in 2014 by our visionary founder, YTGIA, who is a very successful serious technology entrepreneur. He was the best smartphone and smart TV in China. And at that time, he sold like tens of millions of phones and TVs. He wanted to get into the car business, to making the car smart. So he started with Faraday Future, started as an electric vehicle business, electric vehicle company, and indeed compete with Tesla. But right now, the EV market or the vehicle market is too competitive. So we're entering into the robotic field as well. Accumulated, we spent almost $4 billion, so the 12 years. mostly spent in the research and development. We design the car completely by ourselves from scratch. We design every software connectivity, AI module, so on and so forth by ourselves as well. And it's fully adaptive to the robotic as well on the software and AI capability. We have a manufacturing facility in Hanford, California, which is one million square feet, really large. We spent $300 million into that facility. It has capacity to make 10,000 cars per year, and I believe 100,000 or even more for the robotic of the manufacturer capacity. Globally, we have more than 600 patent registered covering everything, hardware, software, AI, connectivity, computing, so on and so forth. All of our products are fully compliant under the U.S. regulatory. For the car, we pass all the hominigation, for the crash testing for the first car, FF91, and we already deliver to top celebrities. For the robotics, we pass all the FCC compliance requirements, federal communication compliance requirements since we're a United States company. We establish global supply chain capability. Lots of the sourcing we are doing for the car are based in the U.S., and we gradually source more and more for the robotics in the U.S. We have huge support from the supply chain in Asia, specifically China, as we know. China is leading the hardware of the robotics right now globally, but again, we develop all the software, data, communication skills by ourselves. So this is the team. I won't go through too much detail, but the team has been working together for around 15, 20 years, and we're not only having top finance or legal guy, but we have top engineering as well as marketing talent to work on this on this project together. Now those are highlights hand forward manufacturer facility, global supply chain with top tier partners mainly in Asia, you know more than 600 patent and we do the we do all the brain training and data by ourselves in-house. We have approximately 300 employees globally, 200 in United States and approximately 100 in China. So here are some highlights. I won't go through it one by one, but basically we are developing so I will go into this chart. We're not only selling hardware, we're developing an overall ecosystem surrounding robots or embodied AI ecosystem. What does it mean? It has four parts. Starting with the device as you can see from here, but basically you know we're selling this dog for like four thousand five thousand we're selling this one for like ninety thousand relatively much cheaper compared to our peers but I doubt if it's just a cool looking robot people will spend like ninety thousand to buy it it needs to have functionalities it needs to have skills it needs to solve real-world problem they need to you know provide good experience with people human interaction so how to do that you not only you need it you need a solid device but also you need to develop your brain capability so that the robot can learn can understand what people wants to do and be able to carry over certain tasks and who developed the brain right so we have a open source industry solution platform and developer platform so similar to uh apple ios right so apple developed core skills and application but 90 you know uh whatsapp instagram or facebook whatever 90 of the applications are developed by third party. So that's the same strategy that we're building. We're building a developer platform, it's an open source platform. People can join and develop skills for us, for the robotics, and we're open source for the industrial solution as well. And there are customers really interested in buying our robot to adapt in their factories. At the very end, we have a data factory practice as well. So one thing, why the robot cannot be as smart as a human being? The cars can drive autonomously by itself, almost able to do, Tesla, those cars, almost able to do. But the robot right now is, quite honestly, still pretty dumb. So why is that is the case? Because lack of data. Think of how many vehicle data Tesla can capture. There are like tens of millions of Tesla cars running around the world every day capturing data for Tesla to train their car, train their autonomous driving system. But how many robots do we have in the United States? I mean less than 1,000. We deliver 500. We're very proud. We're making contribution. But how many others, you know, data source that we have to gather those data and train the model in order to understand, you know, what a real world is. How does a robot understand how to hold a micro?

Jerry Wang

This is a super complicated task.

Jerry Wang

We understand because we lived in this world for like 30, 40 years. We understand this is a metal part.

Jerry Wang

It's kind of heavy. You need your time for this gesture to hold it.

Jerry Wang

It's very complicated. You need to understand real world first, and then you come together with the action model to understand what's the most efficient way to carry it forward. And you hold it while you speak and walk around. This is super complicated. So that's lack of data. And that's what we're doing. We're generating our own data by ourself. If you purchase a robot from us, and hopefully that you do, we're going to purchase data from you, and you're generating revenue by selling us data. And we use the data not only for ourselves, but we're selling to large customers, for example, NVIDIA or OpenAI or Anthropik to train their model, and maybe to Tesla as well if they're willing to purchase it from us, and we'll grow this overall ecosystem together. So that's the ecosystem. And we're trying to create a flywheel effect similar to Tesla. The more device you sell, the more developer you have on your platform, the more data you can generate, the smarter your brain is, the better the device is, and hopefully the more device that we can sell. So that's our overall ecosystem strategy. That's the brain we're developing. We're integrated with the top LLM and world model. We're not trying to develop those models. this will take billions of dollars but we'll try to integrate those models together and come up with solution that the action the actuator can take in order to have those robots do specific performance and tasks. So we're kind of aggregating the top model but we're coming up with our own model in order to get it done. This is quite interesting we do our own open source open developer platform so if you are a developer like today you can like register and count on our developer platform you can really start to generate skills not only you have a real real device so again hopefully that you buy one so you can really experience the development but even if you don't no problem there's a virtual lab and we have open source SDK and API you can really start to develop and you you can see how what's the result is in our different product and if you're interested and hopefully you know you can generate some very cool functions for example hospitality right for example healthcare there are like you know keys or seniors lack of people's companion why not develop a like either human or dog having those you know communication like dialogue functions if you develop that skill and able to sell we're going to having you generated the majority revenue going to you right if you like what you do you know start to buy a few and we're going to co-promote this together with you so that's the developer platform and this is a brain architecture I won't go too much detail but there are different layers you know understanding layer or constructor layer and execution layer and there's a system support it's basically quite complicated for robot to understand the world it's easy for robot to understand people because all the large language model exists but it's hard to robot to understand you know what does the water mean why the water fall down and what's the structure it needs to use in order something like this it's really hard and we are doing it together with the industry together yeah that's our robotic device this is whole portfolio I already introduced.

Speaker 4

This is a historical moment in technological development.

Speaker 5

Welcome to Faraday Futures Summer Camp. We're so excited to have you. At Faraday Futures, we shape the next generation of engineers.

Speaker 4

And we're positive that it's going to be an incredible experience that we'll stay with them for the rest of their life and we'll give them some tools they can use to move forward in their careers and their studies.

Speaker 5

We take our Aegis dogs and we run them through obstacles. Students love controlling the Aegis robot with the controllers and trying to figure out how to get it through obstacles through very different ways. Sometimes we put weights on the Aegis and we can test how the weight affects the speed and torque of the robot while playing a game. That's great.

Jerry Wang

I like being on camera. Yeah, we're working with public and private schools. We're hosting summer camps. We sell those devices to the students, having them really learn programming and really learn robots. And we really wanted to like promote this industry from moving forward. So that's our humanoid. We're selling like 90,000. It can do lots of cool things. It It can dance, it can jump, it can run very fast, it can kick legs even higher than my head. It's really powerful. And lots of developers purchased that, university labs and developers purchased that for the robotic studies. Those are smaller humanoid. The height is something around here. We're selling something around 40,000 MSRP to start, and it can do lots of cool dance moves, and this is more price-friendly compared to these larger ones. This is the AG, the Quattropad, that's one that we're using for the safety and surveillance and you have different top heads, as you can see the back is flat, it can jump, it can run very fast, it can like do this kind of flip thing and on top of that you can put LiDAR, you can put siren, you can put different camera sets on top of that for different functionalities. And that's the education dog. We're selling for less than $2,000. You can design your own like head as well as cover and you can use all the API SDKs. You can do vibe coding to have the dog do certain functions, developing certain skills and really have fun with it together. This is for the industrial solution. As you can see, this is a wheel based and we are in development with some manufacturing companies to have those in their facility. It's actually quite interesting because if you think of that, we sell this for $90,000. It's kind of expensive, right? But think of a human cost. If you're having like factory workers working 24-7 in a factory remote place and you wanted to have it continue to work with good quality, think of how much money that you need to pay in order to make it happen. Much, much more compared to a 90,000 device. So that's why we think that with the implement of those robotic devices, the productivity will increase significantly and there will be more and more. There will be significant demand for this product. So what's the bottleneck? It's about training and skill, right? You have to really train to do really simple work to start and gradually it can able, it will be able to carry over complicated tasks. Yeah, that's the whole portfolio. This is some use scenario, education, industrial, commercial and security. We have labs open up for like K-12 and we have a partnership with universities for the advanced robotic studies. This is for the industrial application. Yeah, that's about it on the robotic, on the electric vehicle where we kind of slow down this part of business and really focusing on the robot for now. But when opportunity is there we'd like to you know accelerate that as much as possible. Those are the top celebrities that we work together you know Chris Brown, Maria Carey, Jason Oppenheim, they really love our product. Yeah, this is the data factory. I won't go too much deeper. And that's relationship with our customers, right? You're buying our product, but we're buying your product back. What we're buying, right? We're buying the data from you, we're buying the developer from you, and basically we have a RoboShare, a robotic leasing platform. You buy a robot and then, you know, I rent it back from you and then I rent it out for people who does not want to purchase one for now but willing to spend yeah several hundred dollars just to experience for the full day yeah that's about it i'm still having two minutes thanks very much for your time and if you have questions happy to take thank you please sir i got a mic too so thank you um have you approached the defense industry with the dogs as it relates to safety for exploring you know not so much right now no okay yeah we're happy to explore okay yeah yes sir yeah that's a great question we partner with large China robot company to do that our yeah the cost is something like half around half of our MSRP yeah but we have distribution cost we have logistic warranty so on so forth yeah 90,000, yeah. I mean, it's up to you, right? You can just buy the hardware for 90, and then you pay us nothing, and you can keep it for many years. There's no problem. And it's not as fragile as the car. The car, you need to maintain it every single year. But as a robot, if you don't have it, carry too much of the activities, it's fine. But if you're having, so that's where we make higher margin. it's the software and skills right if you wanted it to have specific moves specific skills carry specific tasks right pay us like 500 per skill per task and then it will adapt more and more solutions it's like you pay your developer for your application on your on your iPhone it depends on what you want from it yes yes correct yes yeah definitely For the basic operation system, we do everything by ourselves, right? For the basic operation system, we're going to keep an over-the-air upgrade for like a monthly basis or so. But for the specific skills, you're buying on top of that. But for the basic solution, we're going to keep it updated for free.

Speaker 4

With that, folks, we're going to wrap up right there. Big round of applause for Jerry Wong.