Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) announced it has signed a distribution agreement with a U.S. robotics distributor that operates across all 50 states, according to a company press release. The distributor has been designated as a Tier 1 distributor and robotics ecosystem partner of FF Robotics. Further details are expected to be disclosed at a conference scheduled for Aug. 26.

The company plans to host Part One of its EAI Robotics "Built in USA" Upstream & Downstream Business Partner Conference at its Los Angeles headquarters on Aug. 26. The event is set to include a downstream partner session and an education ecosystem showcase. Planned highlights include previews of two new robotics products under the "Built in USA" program and private previews of upcoming products, including one called Master Mini, ahead of a Sept. 19 launch.

Zacks, a U.S. investment research firm, upgraded FFAI stock to a "Buy" rating, placing it among the top 20% of stocks it covers. Zacks also reported that the consensus earnings estimate for FFAI has risen 19.9% over the past three months.

The company also noted that AIxC, in which Faraday Future is the controlling stockholder, has exited its cryptocurrency strategy to focus on physical AI robotics and a robot-sharing and rental platform called RoboShare. RoboShare has completed its first paid commercial order, deployed an initial fleet of more than 80 devices, and launched operations in Los Angeles as part of a ten-city strategy.