Asia Tech Wire (Oct 25) -- California-based electric car startup Faraday Future (FF) announced on Thursday that it has entered into a co-investment agreement with Sheikh Abdullah Al Qassimi's Master Investment Group (MIG).

Sheikh Abdullah Al Qassimi is a member of the royal family and Deputy Chairman of Customs in Ras Al Khaimah, the northernmost of the seven emirates of the UAE at the crossroads of Europe, Asia and Africa.

The partnership aims to develop Faraday Future's Ras Al Khaimah headquarters in the UAE, a statement showed.

MIG plans to begin construction work at Ras Al Khaimah by the end of this year, with Faraday Future expected to move in by late 2025 or early 2026.

On behalf of Faraday Future Middle East, FF UAE head Tin Mok 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.