Faraday’s Future in Question as Financial Fears Rise

Faraday Future still hasn’t built a car and already its death watch has begun.

Premature death isn’t necessarily uncommon or unprecedented in the auto industry. Starting a car manufacturing business is one of the hardest endeavors to begin because of the outrageous costs of entry, strict government regulations, and long timeline to profitability.

Many of the new car companies that have been attempted eventually fail. It’s a sad truth, and we’ve lost some exceptional innovation in the last century of auto manufacturing.

Faraday Future may end up on the long list of failed and forgotten car companies by the end of the decade if the company continues down the path it appears to be following. Continue reading >>>

Concepts, Gadgets, and Self-Driving at CES 2017

Mercedes EQ

Mercedes-Benz Concept EQ

If there was any doubt in your mind that autonomous driving features would arrive quickly in consumer vehicles, maybe you should pay attention to CES this year. With the Detroit Auto Show mere days away, the Consumer Electronics Show in Las Vegas provides a good opportunity for automakers to show off what their research and development teams are capable of pulling off with some of their more outlandish ideas. Of course, CES is a day of concepts and thematics more than actual car reveals, but it can be a great way to gauge how the automotive industry feels it will evolve given its current trajectory.

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Faraday Unveils its Future: The FF 91

ff91

Even though its factory is still just a patch of Nevada desert, Faraday Future has finally unveiled its first production vehicle, the flagship FF 91.

So far, the reception isn’t good.

The car is being panned online for a design that is miles short of Tesla’s sexy EV lines and mocked for failing to drive itself offstage when intended after the big reveal.

The FF 91 comes after a disappointing 12 months that has included reports of dysfunction from within the organization, financial problems, and key staff departures. The company still hasn’t announced how much the car will cost, but will happily take a $5,000 refundable deposit from folks who think they might be able to afford one.

Yes, Faraday Future faces some steep hurdles to finding success, but the FF 91 does have some positives going for it.

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Faraday’s Financial Future Already Bleak

faraday_future

Faraday Future mysteriously stormed into the U.S. market promising a new breed of electric car that would upend Tesla.

It unveiled a supercar concept and has teased a coming crossover. It has broken ground on a $1 billion factory in Nevada. Curiously, the company has never sold, or even produced, a single production-worthy automobile.

Now its parent company, China-based LeEco, has sent a dire warning to employees that it’s having financial troubles and needs to cut costs.

Could Faraday’s Future be over before it even begins?

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Car Company to Build One of World’s Biggest Buildings

faraday-future-factory

A car company is in the early stages of building one of the largest structures the world has ever seen. The structure will have a base that encompasses more than 700 acres, contain more than 3 million square feet, and will require moving enough dirt to fill an entire NFL football stadium.

The building will house a factory capable of producing an untold number of vehicles every year to satisfy demand for… wait… demand for what?

The company building this mega-structure isn’t Tesla. It isn’t Toyota or General Motors or Volkswagen. The company behind this massive project is Faraday Future, which, in its entire existence, has sold a grand total of zero vehicles.

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Apple Car Could Hit Roads in 2021

apple car

It appears that, contrary to some rumors and speculation, Faraday Future is not Apple in disguise.

In recent weeks Faraday has hired a former Toyota executive to lead exterior design, while the Nevada treasurer began to question how the upstart electric carmaker will finance a $1 billion factory and deliver on its promise to help turn Nevada into an electric-vehicle production hub. (Tesla, of course, is building its Gigafactory there.)

Nevada has reason to be concerned, because the state has promised tax benefits and infrastructure improvements. Faraday’s failure would be a giant gambling loss for Nevada, a possibility that would seem less likely if Apple had control of the reins.

The Apple plan, meanwhile, seems to be delayed.

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Faraday Future: The Car Company of the Past?

Faraday_Future_FFZERO1_concept

The best marketing device for a startup company is mystery.

Mystery builds intrigue and interest. It makes people wonder what the company is up to and how its products will influence life as we know it.  The larger a new company is, the more it can play up the mystery aspect of what it has to offer.

Faraday Future is a perfect example.

With billions of dollars in backing and plans to build a $1 billion manufacturing facility, along with months of hinting at a new car that promises to change the way we see cars, Faraday is primed to hit the big leagues and potentially change the auto industry as we know it.

Unless it under-delivers on its promises. Then it becomes nothing more than a modern-day Segway.

And guess what? It under-delivered.

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What Will Faraday Future Build in Nevada?

Could Faraday Future build something like this?

Could Faraday Future build something like this?

There’s a carmaker investing a billion dollars in a new Nevada factory. This factory will employ 4,500 people and produce a new breed of electric car.

Sounds like Tesla, doesn’t it?

After all, Tesla recently broke ground on a $1.3 billion factory in Nevada to build batteries for its vehicles. But Tesla isn’t building this other factory. It’s being built by a company that has never released a vehicle and has never even produced a public concept.

How is that possible?

Frankly, I don’t know. But Faraday Future, the mysterious California automaker with funding from a Chinese billionaire, seems to have a plan.

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Faraday Future: An Automaker in Disguise?

Who is behind Faraday Future?

Who is behind Faraday Future?

The first electric cars were invented in the 1880s but only began to quietly infiltrate the car market this decade. It has taken well over 100 years of fossil fuel usage, and one major diesel crisis, but electric cars are finally beginning their reign in the auto market.

Read through the history of electric cars and you’ll read about gas-electric hybrids, a Porsche electric, and the struggle to create better batteries at the turn of the 20th century. Electric technology was clean and the cars were easy to drive, yet electric technology gave way to gasoline and development in the electric field completely stopped for a long time. Today we’re picking up where electrics left off, albeit with a century of improved automotive technology behind us.

This time the world is ready for electrics. At least that’s the hope for a new electric automaker with deep pockets and ambitious dreams. The question is, who is it?

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