Struggling EV Maker Faraday Future Bets Big on Crypto with $10 Billion Plan

Faraday Future Intelligent Electric Inc. has unveiled an ambitious pivot into cryptocurrency investments, announcing a $10 billion strategy that begins with a $30 million initial purchase next week. The embattled electric vehicle maker, which has delivered just 16 cars to date, plans to create a C10 Treasury and C10 Index tracking the top 10 cryptocurrencies excluding stablecoins.

The company's "EAI + Crypto" Dual-Flywheel & Dual-Bridge Ecosystem Strategy includes tokenized vehicle sales through an "EAI Vehicle Chain" and potential crypto ETF launches. This move comes as Faraday Future faces SEC enforcement actions against its founder and continues to struggle with production challenges.

Despite the bold announcement, market reaction has been mixed. The company's stock fell 7.6% on Friday, though it remains up 75% over the past six months. Industry observers question whether this crypto pivot represents genuine innovation or a distraction from Core operational issues.