Faraday Future Bets Big on Crypto & AI Amid EV Sales Slump—Can They Reinvent the Wheel?

Once hailed as a Tesla rival, Faraday Future just swerved into crypto and AI—because when your cars don't sell, why not chase two even more volatile markets?

The pivot comes as EV demand plateaus and legacy automakers eat their lunch. Now, they're mining blockchain instead of lithium—because nothing says 'growth strategy' like abandoning your core business.

Cynics whisper this is just another distraction tactic from a company that's missed every production target since 2018. But hey—when life gives you lemons, tokenize them.

Faraday Future’s business struggles

Faraday Future hopes to leverage crypto and AI to reinvigorate interest in its business. According to the firm, the goal is to combine the short-cycle crypto business with the long-cycle embodied AI for electric vehicles.

“The next decade could be a super long bull cycle for the crypto market,” said Ian Calderon, FF Co-Creation Officer. “FF is building a dual-engine circular growth system — combining the long-cycle, high-value EAI EV ecosystem with the short-cycle, high-velocity Crypto ecosystem. These two flywheels will empower each other, redefining what’s possible in mobility and financial innovation.”

Once dubbed a potential Tesla competitor, Faraday Future’s business has been struggling. By January 2025, the company had only produced 16 of its flagship FF 91 vehicles. Most were given to employees and advocates.