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No one would criticize you if you thought Faraday Future was long dead. After a ton of hype before CES 2016, most of us were quite shocked and disappointed by what was revealed. And it turned out that, after various hype cycles, the company’s finances were revealed to be none too great, an SEC investigation ensued, and the company’s plans crashed to the ground. It’s a long story.
But, like a phoenix rising from the ashes, Faraday Future bounced back. Lately, it’s been delivering FF 91 2.0 Futurist Alliance EVs one by one to famous people, like fashion designer and YouTube influencer Suede Brooks and entrepreneur Luke Hans. The company has also been rolling out significant software updates for the FF 91 2.0 Futurist Alliance. It has also started in-sourcing its seat production. Also, a week ago, the company secured $30 million, which is helping with the development of Faraday X (FX).
The first prototype mule of the FX will be at CES in Las Vegas January 5–7. “The first prototype mules’ delivery and shipping route has taken them from FF’s Headquarters in Beijing to Los Angeles,” the company writes. “The FX brand is accelerating its efforts to deliver ‘twice the performance at half the price’ AIEV products to U.S. consumers and is advancing toward the goal of delivering performance and technology capable EV’s at an affordable price point.”
In short, Faraday Future plans to unveil, and eventually release, a more affordable model that is also supposed to have better performance. It’s still hard to be optimistic about Faraday Future at this point, and we’ve seen many companies try to develop, scale up, grow, and become profitable — and not do so. So, we’ll see what comes of all this, but I don’t think anyone is expecting a revolutionary story here.
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