Faraday Future Intelligent Electric Inc., a California-based leader in the shared intelligent electric mobility ecosystem, has officially announced a co-investment agreement with Master Investment Group, owned by Sheikh Abdulla Al Qassimi, a member of the royal family and Deputy Chairman of Customs in Ras Al Khaimah.
This collaboration is for the development of the Company’s future headquarters in Ras Al Khaimah, a region highly sought after within the United Arab Emirates (UAE). This development signifies the progression of Faraday Future into the operational phase following the launch of its Middle East Strategy last November, facilitating operational and sales activities within the UAE. Master Investment Group aims to commence construction in Ras Al Khaimah by the end of this year and the Company aims to occupy the premises by late 2025 or early 2026.
Tin Mok, the Head of FF UAE, representing Faraday Future Middle East FZ-LLC, has signed a lease agreement with the Ras Al Khaimah Economic Zone (RAKEZ) for a business location that will include office space and an engineering workshop. Matthias Aydt, the global CEO of Faraday Future, has signed a reservation agreement with RAKEZ for an in-construction facility of 108,000 square feet, which will serve as a future operational hub.
Ras Al Khaimah is the northernmost Emirate of the seven that constitute the UAE and serves as an economic hub for numerous significant companies and organizations across various sectors, including manufacturing and tourism. Its strategic location at the intersection of Europe, Asia, and Africa positions it as an ideal site for Faraday Future’s expansion initiatives.
“We are actively implementing our strategy to establish a presence in Ras Al Khaimah, and we appreciate the warm welcome we have received in the Emirate,” said Matthias Aydt, Global CEO of FF. “As the important center for industry, Ras Al Khaimah is the ideal place for the establishment of our operations to bring the best intelligent electric vehicle product and technology. We are proud to be able to participate in the development.”
“I am excited that were able to sign this agreement with FF to further their ability to continue their start-up operations in a growing, viable and geographically attractive location within the UAE,” said Sheikh Abdullah Al Qassimi, CEO of Master Investment Group. “This agreement signifies not only my commitment to FF but also the RAK and UAE’s commitment to attract new innovative EV and technology-leading companies to the region.”
