Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) announced it completed a $25 million financing round, bringing total funding to $70 million over the past two months when combined with $45 million raised in April.

The electric vehicle company stated it is transforming into what it calls a "Physical AI ecosystem company" focused on robotics. Chief Executive YT Jia, who returned to the role last week after seven years, outlined plans to develop humanoid and bionic robots alongside automotive robots.

The company set a goal to become one of the top three robotics companies in North America within five years based on deployment volume. Faraday Future increased its 2026 robot shipment target from 1,000 units to 1,500 units, with robots priced starting at $10,000.

The financing will support what the company describes as Phase 1 of its robotics strategy through the end of 2026. Faraday Future plans to focus on education, security, reception and research applications for its robots.

Jia stated the company aims to achieve positive operating cash flow by the fourth quarter of 2027 and restore market value to 2021 levels when it went public on NASDAQ within two years.

The company outlined plans for an "EAI Brain" platform intended to attract more than 100 developers and launch over 100 applications. It also targets scaling its data business to over $1 million in revenue and achieving positive operating cash flow in its Middle East operations with more than 200 robot sales.

Founded in 2014, Faraday Future has faced financial challenges and has yet to achieve profitability in its electric vehicle business.