机器人交付进展：2月23日贾跃亭宣布EAI机器人将于下周交付，但市场对其商业化前景存疑，且机器 人业务与核心造车业务的协同效应尚未验证。 行业政策与环境 电动车行业整体承压： 政策退坡：2026年起中国新能源汽车购置税恢复征收5%，美国潜在补贴取消可能进一步抑制需求。 法拉第未来近期面临多重挑战： 财务压力：2025年第三季度财报显示运营亏损2.068亿美元，尽管融资现金流入连续六季度超过运营流 出，但亏损规模仍较大。 业务转型：公司正从FF91项目转向FF 92车型升级及FX Super One车型量产准备，同时战略投资Qualigen 约4100万美元，业务重组带来不确定性。 经济观察网 法拉第未来（FFAI.OQ）在2026年2月24日股价下跌8.04%，收盘价0.48美元，盘中振幅达 14.57%，成交额1032万美元。该股近5日累计下跌11.25%，年初至今跌幅为52.67%，显著跑输汽车制造 板块（当日涨1.98%）及美股大盘（纳斯达克指数涨1.00%）。 股价异动原因 股价下跌的直接诱因为特朗普团队计划取消电动车税收补贴的政策动向。2月24日，华尔街见闻报道 称，特朗普过渡团队考虑取消消费者购买 ...

Core Insights - Faraday Future (FF) reported a Q3 operating loss of $206.8 million (approximately 1.468 billion RMB) due to investments in engineering R&D, talent expansion, strategic initiatives, and adjustments in the value of manufacturing-related assets [1][4] - As of September 30, FF's cumulative cash outflow from operating activities for the first nine months was $79.2 million (approximately 562 million RMB), influenced by changes in working capital and the ramp-up of the FX platform [4] - FF has secured approximately $136 million (about 966 million RMB) in financing commitments, with around $82 million (approximately 582 million RMB) received by the end of Q3 [4] Financial Performance - FF's financing cash inflow reached $135.8 million, a 144% increase compared to $55.7 million in the same period last year, marking the sixth consecutive quarter where financing income exceeded operating expenses [4] - The company aims to transition from the FF 91 project to focus on the production of the FF 92 and FX Super One models [10] Product Development - The FX Super One, launched on October 28 in the UAE, is positioned as a smart electric vehicle targeting the U.S. market, with four versions planned [6] - Since its launch, the FX Super One has received over 11,000 legally binding paid pre-orders, indicating strong market interest [8] Strategic Partnerships - FF has reached a collaboration with Tesla regarding charging standards, allowing FF 91 and FX models to utilize the NACS system and access Tesla's extensive Supercharger network across the U.S., Canada, Japan, and South Korea [12]