Faraday Future Intelligent Electric, a California-based leader in the shared intelligent electric mobility ecosystem, has officially announced a co-investment agreement with Master Investment Group, an entity 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 setting up the US group’s future headquarters in the northern emirate of Ras Al Khaimah, said the company in a statement.

 

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, 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 sq ft, which will serve as a future operational hub.

 

"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 Aydt. 

 

"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," he added.

 

Master Investment Group CEO Sheikh Abdullah Al Qassimi said: "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."

 

"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," added Al Qassimi.-TradeArabia News Service