格隆汇2月23日｜法拉第未来联席CEO贾跃亭公布EAI机器人进展：下周将正式开启首批交付，Futurist 和Master销售和交付所需的前期认证及合规工作已经完成，Aegis也将很快完成，有信心按规划完成后 续的交付和爬坡计划。 EAI EV进展：FF和来自美国多个州的多家头部经销商签署了Super One及EAI机 器人的销售合作MOU，标志着用户生态共创模式取得了阶段性成果。 ...

Group 1: Leadership Changes in Automotive Industry - The CEO of Mercedes-Benz China,段建军, has resigned for personal reasons, effective March 1, 2026, transitioning to a strategic advisor role until April 30, 2026 [4] - 李德思, with over 20 years of experience at Mercedes-Benz, will take over as the new CEO starting March 1, 2026 [4] - 段建军 has been instrumental in maintaining China's position as the largest single market for Mercedes-Benz for over a decade [4] Group 2: Regulatory Actions in the Tech Industry - The State Administration for Market Regulation has summoned major platform companies including 阿里巴巴, 抖音, 百度, and others to ensure compliance with the Anti-Unfair Competition Law [6] - Companies are urged to eliminate "involution" competition and promote a fair market environment to foster innovation and healthy development in the platform economy [6] Group 3: Advancements in AI Technology - 字节跳动 has announced the launch of Doubao 2.0, which includes systematic optimizations for large-scale production environments, enhancing capabilities in multi-modal understanding and complex task execution [8] - The Doubao 2.0 series features three general agent models and a code model, with the Pro version aimed at deep reasoning and long-chain task execution, competing with GPT 5.2 and Gemini 3 Pro [8] Group 4: Robotics Development - 法拉第未来 has introduced its first series of embodied intelligent robots, with non-refundable, non-binding pre-orders now open, and first deliveries expected by the end of this month [11] - The robot series includes the Futurist series (full-size professional humanoid robots), Master series (athletic humanoid robots), and Aegis series (security and companion quadrupedal robots) [11]

与此同时，公司已推出首批具身智能机器人产品系列，并开启了不可退款、非约束性付费预订，首批交付预计在本月底。围绕机器人业务，公司正 在推进量产准备、定制化开发、测试验证及AI数据训练等关键工作，持续推动公司两大类核心产品——EAI车辆与机器人的双擎驱动增长曲线。 Faraday Future今日宣布，公司于美西时间2026年2月13日召开的特别股东大会已完成相关议案审议并获得通过。 在本次特别股东大会上，股东批准了增加公司授权股数的提案。该提案仅涉及授权股数储备的增加，不会即时增加实际发行股数。 ...

与此同时，公司已推出首批具身智能机器人产品系列，并开启了不可退款、非约束性付费预订，首批交 付预计在本月底。围绕机器人业务，公司正在推进量产准备、定制化开发、测试验证及AI数据训练等 关键工作，持续推动公司两大类核心产品——EAI车辆与机器人的双擎驱动增长曲线。此外，FX Super One智能汽车聚焦量产准备，并朝着本年度首批交付目标稳步推进。 凤凰网科技讯2月14日，Faraday Future宣布，公司于美西时间2026年2月13日召开的特别股东大会已完 成相关议案审议并获得通过。在本次特别股东大会上，股东批准了增加公司授权股数的提案。该提案仅 涉及授权股数储备的增加，不会即时增加实际发行股数。 ...

Core Insights - Faraday Future has signed multiple agreements with Hebei Huanzhou Automobile Sales Co. to support the engineering, sourcing, and planned production of its FX Super One electric vehicle in the US [1][6] - The agreements aim to advance the development and manufacturing preparation for a battery-electric version of the FX Super One targeted at the American market [1][6] Group 1: Agreements Overview - Seven agreements were signed, covering engineering scope, intellectual property ownership, product liability, after-sales responsibilities, systems integration, and other commercial terms [2] - The documents include a strategic cooperation agreement focused on mass-production-oriented parts procurement and related engineering services [2][3] Group 2: Engineering and Production Support - Hebei Huanzhou will provide engineering services focused on mass production and assist in parts procurement, facilitating scaled output and first deliveries later this year [3][6] - The collaboration is part of Faraday Future's EAI Bridge Strategy and aims to integrate software, AI, and technologies from its FF 91 model into the FX vehicles [6] Group 3: Future Plans and Expansion - Faraday Future's founder emphasized the importance of these agreements in reaching mass production goals for the FX Super One [4] - The companies may explore further projects, including the FX 4 model and potential sales expansion into Canada and the Middle East [5]

Group 1 - Faraday Future (FF) has signed a comprehensive agreement with strategic partner Hebei Huanzhou Automotive Sales Co., Ltd. to accelerate the mass production and compliance certification of the FX Super One electric vehicle in the U.S. market [1] - The agreement includes seven key documents covering parts procurement, engineering services, and intellectual property rights, defining the scope of services, ownership of intellectual property, and after-sales systems [1] - The strategic cooperation has expanded to include development intentions for three additional models, including FX 4, with plans for further negotiations on development timelines and pricing [1] Group 2 - FF's founder and Co-CEO Jia Yueting stated that this signing marks a significant milestone towards full-scale production of the FX Super One [2] - FF has established a rolling development strategy of "producing one model, launching one model, and researching one model" to enhance resource allocation efficiency [2] - Hebei Huanzhou will provide ongoing technical support for the FX series, integrating China's new energy vehicle supply chain with U.S. AI research and compliance systems [2] Group 3 - Hebei Huanzhou Automotive Sales Co., Ltd. was established on January 15 this year with a registered capital of 100 million RMB, and is controlled by Tianjin Ruixin Enterprise Management Consulting Co., Ltd. [2] - The company’s business scope includes automotive sales (including new energy vehicles), parts manufacturing, research and development, compliance certification services, and supply chain management [2]

作者： 枫叶 以下文章来源于正商参阅 ，作者枫叶 正商参阅 . 原《政商参阅》，做价值的传播者！连续两届获评胡润年度影响力自媒体、21世纪经济报道年度传播力 自媒体、新浪、经济观察报年度影响力自媒体、新榜年度社会关注新媒体荣誉奖等。 来源： 正商参阅 ----------------------------- 让我们一起为梦想窒息！ 是的，没错， 贾跃亭又 "杀"回来了。 这次，大忽悠不是 "造车"成功，而是 另辟蹊径开始"玩"人形机器人了。 不得不佩服贾跃亭 "敏锐"的商业嗅觉，有热点我就蹭，一旦有好的商业模式或产品，那么不好意 思，我的" PPT "早就已经写好了。 更可怕的是，贾跃亭还与时俱进，不再着眼于 "纸上谈兵"，这次是真有机器人样品展示的。 "未来， 360 行各有自己的职业机器人。" 贾跃亭，再次选对了方向。 谁说骗子就不能创造 " 奇迹 " ？ 不得不承认， 贾跃亭这个跑到美国造车的 " 中国第一大忽悠 " ，身上存在 着 一种难以解释的特 质 —— 他似乎总能在被判 " 出局 " 之前，重新回到牌桌上。 从乐视崩塌到远走美国，从债务缠身到被列为 " 被执行人 " ，再到 FF （法拉第未来 ...

Core Viewpoint - Jia Yueting has not returned to China as promised and has instead ventured further into new business areas, including robotics, while facing ongoing challenges with his electric vehicle company, Faraday Future (FF) [4][21]. Group 1: Robotics Venture - At the National Automobile Dealers Association (NADA) conference in Las Vegas, Jia Yueting introduced three types of robots, ranging from a high-end humanoid robot priced at $243,000 to a $17,000 quadruped security robot, promoting the slogan "Every profession has its own robot" [5][12]. - Following the launch, he reported securing 1,211 paid pre-orders, claiming "release equals sales, sales equals delivery" [5][12]. - FF has also announced a $10 million investment from AIxC, which is a pure equity financing deal, expected to close around February 13 [13]. Group 2: Challenges with Faraday Future - Faraday Future has faced significant issues, including severe delivery delays, financial strain, and internal turmoil, leading to skepticism about its future [9][10]. - The company has struggled to deliver vehicles, with only 17 cars expected to be delivered in 2025, and a total of 10 cars delivered in the first three quarters of the year, with a slight increase to 7 in the fourth quarter [15]. - To maintain its listing status, FF has engaged in stock consolidation and introduced a "partner plan" to convert some equity into creditor trust, indicating a desperate attempt to stabilize the company [15]. Group 3: Debt and Legal Issues - Jia Yueting's personal debt, primarily related to the LeEco crisis, is approximately $12 billion, with over $10 billion repaid through a creditor trust in the U.S. [19]. - Remaining debts under Chinese jurisdiction are around $2 billion, equivalent to approximately 14.2 billion RMB, with ongoing legal actions resulting in over 10.29 billion RMB in unfulfilled debts [19]. - Despite securing $135 million in financing for debt repayment, this amount is insufficient compared to the massive debts left by LeEco [19].

Investment Rating - The report rates the industry as "Buy" [4] Core Insights - Optimus is expected to become the first von Neumann machine, with a target annual production of one million units by 2026, marking a significant advancement in the robotics industry [2][5] - The report emphasizes the transition of robots from "being able to move" to "being able to act" through the development of force control technology, which is crucial for human-like robots [5][34] - Investment focus should be on robot manufacturers and core component suppliers, including actuators, motors, reducers, and sensors, highlighting specific companies for potential investment [5][46] Summary by Sections Industry News and Company Dynamics - Tesla's Optimus is set to be the first von Neumann machine, capable of establishing civilization on suitable planets, with a significant upgrade in its learning capabilities through observation of human behavior [8] - The Indian company Muks Robotics has launched its first humanoid robot, SPACEO-M1, indicating a global expansion of humanoid robot development [9] - Faraday Future has entered the robotics sector with three new products, aiming to deliver them immediately, marking a strategic shift for the company [11] Investment Recommendations - The report suggests focusing on key robot manufacturers and core component suppliers, recommending specific companies for investment in various categories such as actuators, reducers, and sensors [5][46] - Notable recommended companies include Zhaowei Electric, Hengli Hydraulic, and Unibot, among others [5][46] Force Control Technology - Force control technology is identified as a critical support for humanoid robots, enabling them to interact with their environment more effectively [34][35] - The report discusses two main technical solutions for force control: current loop-based and torque sensor-based, with the latter expected to dominate in humanoid robotics due to its higher precision [36][37] Financing Dynamics - Significant financing activities are noted in the robotics sector, with companies like LingMonkey Robotics and LimX Dynamics securing substantial funding to enhance their technological capabilities and production capacity [31][33]

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