EV maker Faraday Future forays into Middle East, unveils new model

Electric vehicle (EV) startup Faraday Future has forayed into the Middle East market through a partnership agreement with Master Investment Group and Siraj Holding as the UAE accelerates plans to establish a smart and sustainable transport system.

The California-based EV maker plans to launch a limited-edition model, the FF 91 2.0 Futurist aiFalcon, tailored to the local market, with deliveries expected in 2024.

The limited edition model, the FF 91 2.0 Futurist aiFalcon will come standard with 1-on-1 bespoke private AI​ as well as premium identity​ features such as UAE gold/crystal badges and an exclusive invitation to the FF “Futurist Spire Club​”.

Its FF 91 2.0 Futurist Alliance (North American Model) will be on display at the Abu Dhabi Yas Marina Circuit during the Abu Dhabi F1 Grand Prix week.

Faraday Future delivered its first FF 91 2.0 Futurist Alliance in the US in August. To further strengthen its position in the EV market, the automaker announced several influential co-creation partners as the first owners of the vehicle.

The company said the Middle East market presents an exciting opportunity for smart and autonomous vehicles and the market is well aligned with its product technology and brand positioning.

“We are delighted to form this strategic cooperation with Master Investment Group and Siraj Holding, which will open the door to our global expansion in the Middle East market,” said Matthias Aydt, global CEO of Faraday Future.

“Faraday Future continues to make tremendous progress with our operations. The team’s collective expertise and passion underscores our readiness to enter markets  the Middle East.”

Faraday Future advances UAE’s smart mobility strategy

Faraday Future’s partnership with Master Investment Group and Siraj Holding will support the EV maker’s Middle East business operations, including business developments, sales and marketing, and strategic financing among others.

Under the deal, Sheikh Abdullah bin Mohamed Al Qassimi, the CEO of Master Investment Group and the Siraj Holding chairman Ahmed Khalaf Ahmed Khalaf Otaiba will join Faraday Future’s global advisory board as well as become board directors of FF Middle East.

“Partnering with Faraday Future represents a significant stride towards advancing sustainable mobility and embracing cutting-edge AI technology. Together we aspire to spearhead regional development and foster economic growth, positioning the UAE as a global leader in shaping a cleaner, technology-driven future,” said Sheikh Abdullah bin Mohamed Al Qassimi.

The UAE electric car market has grown exponentially over the years, driven by government-led initiatives that are advancing infrastructure and installing electric charging stations.

The EV market in the UAE is projected to grow at an annual rate of 27.2 per cent between 2023 and 2027.

Read: Here’s how UAE is expanding the horizons of smart mobility