Electric vehicle startup Faraday Future has announced a bold venture into the world of cryptocurrency. With a vision to integrate AI-powered electric vehicles and Web3 technologies, the company has unveiled plans to develop a multi-billion-dollar crypto strategy, including the creation of a C10 Treasury and C10 Index for cryptocurrency tracking.
Expanding Investment Plans
Faraday Future aims to purchase an initial $30 million worth of cryptocurrency, with long-term ambitions to expand this investment to tens of billions of dollars. During its announcement at Monterey Car Week 2025, Faraday introduced its unique “EAI + Crypto” Dual-Flywheel & Dual-Bridge Ecosystem Strategy, aiming to bridge the gap between electric vehicles, Web3 technologies, and blockchain applications.
The C10 Index will serve as a market-cap-weighted basket fund designed to track the top 10 cryptocurrency assets, excluding stablecoins. The company also plans to launch a cryptocurrency-based exchange-traded fund (ETF).
Revolutionizing Vehicle Sales with Tokenization
Faraday Future’s innovative strategy also includes the development of an EAI Vehicle Chain, which will facilitate tokenized vehicle sales and crypto-enabled deposits. Embodied AI (EAI) refers to artificial intelligence physically integrated into objects like vehicles, providing revolutionary experiences for customers.
California State Treasurer Fiona Ma has expressed support for this initiative, highlighting its potential to create high-quality jobs, attract investments, and drive economic growth.
Overcoming Challenges for a Bright Future
Despite its futuristic vision, Faraday Future has faced significant challenges, including production delays and regulatory hurdles. The company previously shelved its $1 billion factory project in Nevada and has struggled with manufacturing issues. Only 16 vehicles have been delivered as of January 2025.
In addition, the company has been navigating regulatory scrutiny, as the U.S. Securities and Exchange Commission (SEC) recently issued a Wells notice to its founder and president following a fraud investigation.
Looking Ahead
While the road ahead may seem daunting, Faraday Future’s stock performance has shown resilience. The company emphasized that its new cryptocurrency strategy will prioritize transparency and compliance while driving innovation that benefits both its shareholders and the broader electric vehicle industry.
Faraday Future’s ambitious crypto initiative reflects an industry-leading strategy that integrates blockchain and electric mobility. If you’re looking to explore innovative industries further, consider learning more about AI and cutting-edge products like Tesla’s Cybertruck that represent the future of mobility and technology.
