Connect with us

Hi, what are you looking for?

Credit: Faraday Future


Remember Faraday Future? It’s B A C K !

Fresh off a reverse merger that brought in $1 billion in new capital, Faraday Future says it will begin production in 12 months or less.

Faraday Future burst upon the automotive scene in 2014, led by the hyper-energetic Chinese billionaire Jia Yueting. Sort of a cross between Uber’s Travis Kalanick, Nikola Motors CEO Trevor Milton, and PT (“There’s a sucker born every minute”) Barnum, Yueting made grand announcements and bold predictions. He was going to build a fabulous new factory in North Las Vegas, until the governor of Nevada went to China to investigate Yueting’s bona fides. He returned saying all deals were off because Jia had no money.

Faraday Future was the poster child for high-flying startups led by seeming charlatans. The company went dark for a long time before resurfacing this week as a new corporation called Faraday Future Intelligent Electric. Having completed a reverse merger with special acquisition company Property Solutions Acquisition Corp, it is now listed on the NASDAQ stock exchange using the symbol FFIE. Autoblog says, “We’re told that I stands for Intelligent and Internet, E stands for Ecosystem and Electric.” The new company refers to its global partners as the “Futurist Alliance.”

New CEO Carsten Breitfeld told the press this week, “We have been able to convince the capital market that this is a different company now, a company which can deliver a serious business plan. But now we have to deliver, and this is absolutely key.” Gee, do ya think? Breitfeld has a long track record in the automobile business, having spearheaded the development of the BMW i8 and co-founded yet another EV startup called Byton.

Meet The FF 91

Credit: Faraday Future

With a billion dollars in fresh cash in its coffers, the company says its first model, the FF 91, should be in production within 12 months. No question, the prototype is a looker. Electrive says the first 300 will be part of an exclusive Futurist Alliance Edition which can be reserved for a mere $5,000 deposit. It will come with three motors — 2 in the rear and one in front — with a total of 772 kW (1050 hp) of power and a 0-to-60 mph time of 2.4 seconds. The car will feature a 130 kWh “immersive liquid cooled” battery and is expected to retail for $144,000. It is already sold out.

Credit: Faraday Future

Credit: Faraday Future

A more prosaic Futurist Edition with be available with either 2 or 3 motors, an 86.7 kWh or 108.3 kWh battery, and up to 130 kWh of power. It can be reserved for a mere $3000. Both cars promise amazing, never-seen-anything-like-this connectivity and lightning-fast internet connections.

Credit: Faraday Future

Credit: Faraday Fiuture

Instead of a space age factory in Nevada, the company will begin producing its cars in a converted Pirelli tire factory in Hanford, California. The plan is to make 2,400 cars in 2022 and build toward 38,600 cars by 2025. In addition to the FF 91, it will introduce two other models — the lower cost FF 81, an electric delivery truck in 2023, and the entry level FF 71 in 2024.

If additional capacity is needed, the company could look to Geely, which is an investor, and other partners in South Korea for additional manufacturing capability. Faraday Future has had more lives than the proverbial cat. Has it finally gotten a handle on what it takes to manufacture compelling electric vehicles? “We’ll see,” said the Zen master.

Credit: Faraday Future

Credit: Faraday Future

Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Former Tesla Battery Expert Leading Lyten Into New Lithium-Sulfur Battery Era — Podcast:

I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

Steve writes about the interface between technology and sustainability from his home in Florida or anywhere else The Force may lead him. He is proud to be "woke" and doesn't really give a damn why the glass broke. He believes passionately in what Socrates said 3000 years ago: "The secret to change is to focus all of your energy not on fighting the old but on building the new."


You May Also Like

Clean Transport

Production of the Tesla Cybertruck is on its way, and with the Model Y surpassing an important sales milestone in the first quarter, becoming...

Clean Transport

Australia’s Woolworths Group, which is not related to South Africa’s Woolworths, has announced that it aims to make all its home delivery trucks 100%...

Clean Transport

In collaboration with Volvo Group, National Renewable Energy Laboratory (NREL) researchers charted a path forward for achieving a zero-emission future for medium- and heavy-duty...

Clean Transport

BAE Systems is a multinational defense, security, and aerospace company headquartered in London, United Kingdom. Established in 1999 through the merger of British Aerospace...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.