Faraday Future signs deposit deal for 1,000 vehicles with ZEVO

Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) announced it signed a deposit agreement for 1,000 units of its FX Super One vehicles with ZEVO, a peer-to-peer electric vehicle sharing platform based in Dallas.

The agreement includes non-refundable deposits and non-binding preorders, with the deposit already received, according to a statement from company founder and co-CEO YT Jia. ZEVO operates in Texas, California, Arizona, Florida, and Nevada, allowing individual car owners to list their electric vehicles for sharing and providing short-term rental programs for ride-hailing drivers.

The deal expands Faraday Future's business-to-business-to-consumer sales model into Texas, which the company described as the second-largest electric vehicle market in the United States. The company previously established partnerships with car rental companies, real estate brokerages, and marketing agencies.

Separately, Faraday Future announced Calvin Gong, president of Pinnacle Real Estate Group, as a Co-Creation Officer for its FF 91 2.0 vehicle program during an October 8 ceremony in Los Angeles.

The company said it established a project team to coordinate its year-end vehicle production target for the FX Super One in the United States. Faraday Future also announced plans for a product launch event in the United Arab Emirates on October 28.

The company completed a strategic investment in Qualigen (NASDAQ: QLGN), with a special shareholder meeting scheduled for November 2025. If approved, Qualigen would be rebranded as CXC10 as part of Faraday Future's cryptocurrency and artificial intelligence operations.

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