Faraday Future, a Chinese tycoon’s ambitious (and troubled) electric car venture
Faraday Future is a California-based electric car company run by Chinese businessman Jia Yueting. It aims to challenge Tesla, but has so far struggled to begin production.
Among all the “Tesla challengers”, Faraday Future is one of the more unusual ones. It was co-founded by Chinese businessman Jia Yueting, best known as the founder of the rapidly growing (and quickly sinking) firm LeEco. Founded in the US, Faraday Future has repeatedly run into financial troubles and struggled to survive, despite plenty of high-profile publicity.
Four years after the company was founded and 19 months after it first showed off a much-hyped prototype, Faraday Future finally showed the world its first pre-production electric car in August 2018: The FF 91, an “ultra-luxury intelligent EV.”
Jia Yueting first came to prominence as the founder of Leshi, which eventually became one of China’s most popular video streaming services. Jia then led Leshi’s parent company, LeEco, into a huge variety of businesses, from smartphones to entertainment.
What cars do Faraday Future make?
The company makes just one car, and it’s not in full production yet. The FF 91 has been called (by Faraday Future itself) an “ultra-luxury intelligent EV” that can go from 0 to 60 mph in less than three seconds, and can run for more than 300 miles on single charge -- both slightly less impressive than Tesla’s Model S.
Faraday Future first unveiled a concept car at CES 2017 to plenty of hype -- but very little substance. The company finally showed a pre-production version of the FF 91 in August 2018, but again did not reveal much about it. It’s unknown how much it will cost, but it’s likely to be quite pricey.
What problems does it face?
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