Electric car startup Faraday Future prepares for battle with Tesla

By Shawn Knight
Nov 6, 2015
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  1. There’s trouble brewing six hours south of Tesla’s Palo Alto headquarters. Inside Nissan’s old US sales office, a team of established auto industry engineers and executives – some, former Tesla employees – are building a company that some say is China’s response to the Model S maker.

    The 18-month-old startup is called Faraday Future. Led by Chaoying Deng – at least, on paper – and believed to be backed by Chinese billionaire Jia Yueting, the company is planning to sell its first fully-electric vehicle in 2017. To realize that goal, it first needs a manufacturing facility.

    Faraday Future aims to spend around $1 billion to build the plant and is currently scouting locations in California, Georgia, Louisiana and Nevada. Like its eventual rival, Faraday Future is shopping around for the best deal as it relates to economic incentives, tax breaks and so forth.

    As the LA Times reminds us, Tesla ultimately decided to build its Gigafactory in Nevada largely due to the $1.3 billion economic development package the state offered. At the time, Tesla said the deal would create 6,500 new jobs and have an economic impact of nearly $100 billion over the next 20 years.

    Faraday Future said in a press release that in addition to producing vehicles, it plans to explore other aspects of the auto and tech industries including in-vehicle content, autonomous driving and unique ownership and usage models.

    Permalink to story.

  2. RustyTech

    RustyTech TS Guru Posts: 814   +382

    "...the company [Faraday Future] is planning to sell its first fully-electric vehicle in 2017."

    I call bullocks! An 18 month-old company would first need to design can they do that unless they stole blueprints and whatnot?
    Reehahs likes this.
  3. davislane1

    davislane1 TS Evangelist Posts: 3,370   +2,163

    95% of the time the product is already partially or completely "designed" prior to the formation of the actual company. You can't get backing otherwise. For the 5% who form prior to designing a product...well, there's a reason you don't know their names.
    Reehahs likes this.
  4. RustyTech

    RustyTech TS Guru Posts: 814   +382

    Very good points
  5. RebelFlag

    RebelFlag TS Addict Posts: 134   +66

    If it is a Chinese company I am kind of surprised they are not just building the car in China. You would think they would be able to get a huge savings in labor and manufacturing cost that way.
  6. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 6,335   +1,937

  7. psycros

    psycros TS Evangelist Posts: 1,295   +663

    "Former Tesla employees." 'Nuff said?
  8. RzmmDX

    RzmmDX TS Addict Posts: 294   +58

    Pft, they all go to Apple!

    Unless they left Apple... but they would be former Apple employees.

    Transitive property be damned.
  9. bexwhitt

    bexwhitt TS Addict Posts: 289   +55

    Anyone company make an electric car, making a good one that's another matter

    Tesla with the Model S have made a car which many think is better than anything else in it's class, now that's an achievement in so little time.

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