Faraday Future Holding Back on Large Production Numbers
Finances and time force the company to relax a bit.
Faraday Future has put the brakes on their ambitious goals for production. The Tesla fighting company has been a hype hot-streak, building anticipation for their shareholders and the public to keep things alive. Ongoing troubles have put a damper on their targets, and as Reuters has now reported, they've decided to cut down heavily on their lineup by switching their focus to two models instead of the expected seven.
The manufacturer's beginning phases have had us in high hopes. With five other models now out of the way, they will begin buckling down on their FF 91, a Tesla Model S competitor, and the FF 81 crossover, directed towards the Model X. Both of these EVs are planned to be chop-full of driverless tech with plenty of futuristic gadgets to keep the new age of buyers satisfied.
Faraday Future's troubles have been no secret. Recent press of missed deadlines and late payments to lenders had set the company in hot water, leaving them to cling to their hopeful cutting-edge devices in order to compete with the staples of today's market. They had plans of building a huge factory scaling up to 3,000,000 square feet though that was promptly downsized to 650,000 sq. ft. The state of Nevada forced them to cease construction of this Gigafactory-rival last fall. The building is now slated to be finished in 2019 although Faraday Future had planned to have it open sometime this year.
Amidst their worries of both construction and production, both of the company's remaining models will reportedly be quite pricey. The FF 91, though aimed at the Tesla Model S that tops out at about $160,000, will start only $10,000 below that figure with the ability to option up to nearly $200,000. Pricing for the FF 81 is yet to be announced, but expect it to be up there as well. For an unproven company, those are both pretty big pills to swallow considering their reputation so far.
More news is expected soon out of the future-derived startup. In order to keep anticipation up, they're going to have to really showcase their talents with the FF 91 and FF 81. Come back for updates as we continue to learn about the situation.