After many financial disappointments, Faraday Future would have finally gathered enough investment to produce the FF91 Futurist from March 2023. A speech that we have already heard in the past.
This is not Faraday Future’s first announcement regarding the start of production of its 100% electric model, named FF91 Futurist. The last time we broached the subject, at the end of 2021, the brand was convinced to launch the production of its electric model in the summer of 2022. We will therefore remain cautious about the a little too enthusiastic announcements of February 5, 2023 on the funding found by Faraday Future to begin production.
In 2017, Faraday Future wanted to make the Tesla Model S and X old fashioned with its FF91, both in terms of performance, technology and high-end positioning. However, the project too quickly squandered the funds at its disposal and found itself blocked in the advancement of its ambitious development.
135 million investments to launch production, is that enough?
After having already spent several billion dollars in investment since 2014, the date of its creation, the company is pleased to have raised the 135 million dollars that were missing to move to the last stage: the start of production of its electric car. .
While thethe company’s stock fell more than 92% since its IPO in July 2021, these investments at the start of 2023 have come as a breath of fresh air for investors who believed in this project. The action has even risen significantly, but for how long?
Like other ambitious projects, for example, Byton or the solar cars of Sono Motors or Lighyear, Faraday Future finds itself facing ever-increasing expenses in an attempt to complete the development phase and move into production. Other new manufacturers in electric mobility, such as Lucid or Rivian, have also been there, but with a little more success with customers.
Faraday Future seems to have completed the preparation of its productive tool and announces progress on the testing and validation of its models. However, even if the company manages to produce and deliver its first models, the difficulties will be far from behind the company.
Finally, before projecting further into the future, it is already necessary that the financing commitments of up to 135 million dollars become funds actually paid to consider them as acquired at Faraday Future. The brand itself uses the conditional in its press release.
By the way, what is the Faraday Future FF91 Futurist?
The FF91 Futurist is an electric vehicle equipped with 3 electric motors developing up to 1,050 hp of power, the equivalent of the Tesla Model S Plaid. The vehicle announces a 0 to 100 km/h in 2.27 seconds.
The brand also communicates on a range of 613 km according to the American certification cycle. This luxury car is aimed primarily at the American and Chinese market.
Faraday Future sees itself as a competitor of prestigious brands such as Ferrari, Maybach, Rolls-Royce and Bentley. Gone are the days when the brand presented itself as a “Tesla killer”. The project really focused on an environment closer to luxury and with a user experience at the forefront of technology and AI on autonomous driving and on connectivity. Except that on this point, the brand has not yet proven itself.
The more the months pass, the more complicated it seems for Faraday Future to envisage a future in electric mobility. With so many cumulative delays, it’s hard to believe that the initial project is still relevant in the face of competition. We will probably know by the summer of 2023 if the brand has kept its production commitments.
