Faraday Future is an electric startup based in California that showed a prototype, which was production intended. But, now says to launch the car before the end of 2022, they need more funds. The delayed production of the FF 91, reveals that a regulatory filing needs more capital to launch the car in 2022. The automaker is targeting to raise around $325 million in capital for continuing operations. The company announced that the production will start in the third quarter of this year. But, many remember that the company has a history of missing claimed production dates more than once in the past five years. (Source: Car and Driver)
In 2017, this Los Angeles-based electric startup revealed FF 91 crossover at the Consumer Electronics Show and had a claimed production of 2018. After five years, the FF 91 has not yet even stepped out of the factory, because Faraday Future has been battling financial issues. Last week, the company revealed that it has built its first “production intent” FF 91. In 2014, the company was founded by Chinese businessman Jia Yueting in California. In 2015, the company announced that it would build a plant in North Las Vegas, Nevada. There were reports of debts accumulating, supplier lawsuits, and former employees claiming that Faraday Future was two companies. With a separate entity set up in the Cayman Islands owning Faraday Future’s intellectual property.
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The Founder Jia had also formed another EV venture, the LeEco LeSee, which was alleged of pulling funds and talent away from Faraday Future, despite sources claiming that the LeSee was never a real car. In 2017, a Chinese court froze $182 million worth of assets belonging to Jia, his wife, and LeEco affiliates. And days after, Faraday Future said its North Las Vegas factory plans had been scuppered. Despite all the financial battles, Faraday Future continued to promise the arrival of the FF 91. As per a spokesperson, the FF 91 features a new instrument panel, front and rear consoles, and exterior lighting. It also has new exterior badging, a production-spec lidar assembly, and production paint applied in the paint booth in the Hanford plant.
Performance Figures & Pricing
The figures remain unchanged since the 2017 unveiling. Sporting three electric motors; two at the rear and one up front supplying 1050 hp to all four wheels. The company claims a 0-60 mph time of 2.4 seconds. The energy comes from a 130.0-kWh battery pack, providing a 378-mile range on the EPA test cycle. Expect the FF 91 does hit production by the end of this year, and a six-figure price too. Competing with the Tesla Model X and Lucid Motors’ Air. The top-tier FF 91 Futurist Alliance model, will cost more than $200,000 and will be limited to 300 units. Aiming to battle the likes of Bentley, Rolls-Royce, and Maybach.