With its unveiling of the FFZero1 fully-electric high-performance sports car, Faraday Future is hoping to put a serious dent into Tesla’s dominance of the luxury electric car market. The FFZero1 is a sleek ride that some have dubbed a cross between a Corvette and the Batmobile. The car was unveiled at the annual Consumer Electronics Show in Las Vegas, and many are nicknaming it the “Tesla Killer”.
The FFZero1 features 1,000 horsepower under the hood, and can go from zero to 60mph in under three seconds. The top speed of the FFZero1 exceeds 200mph. For a vehicle that is battery-powered, these are amazing figures. The car also includes a helmet, which provides the driver with oxygen and water. According to senior vice president of research and development for Faraday Future Nick Sampson, a variation of the car is expected to enter into production in just two years.
Faraday Future, which is located just outside of Los Angeles in Gardena, CA, has been recruiting experts from rival luxury car companies Tesla and BMW. The 18 month old company currently boasts a force of more than 550 employees. Additionally, the auto manufacturer is soon planning to construct a $1 billion production plant near Las Vegas. However, it hasn’t all been a smooth ride, as the company lost its chief battery architect after he had only been working for 15 months.
While the idea of electric vehicles is exciting to many, most Americans are still driving traditional gasoline-powered cars. In fact, electric vehicles still only represent about 1% of the car market in the United States. Representatives from Faraday Future have said that they will target luxury car buyers in hopes of expanding the electric vehicle market.
As for funding, Faraday Future has been heavily supported by Chinese billionaire investor Jia Yueting, who takes major influence from the deceased Steve Jobs. Yueting is the founder and CEO of Faraday Future’s holding company LeTV, and he has a net worth of about $7 billion.
Yueting said, “We plan to revolutionize the automobile industry by creating an integrated, intelligent mobility system that protects the earth and improves the living environment of mankind.”
Still, Faraday Future has a large amount of work ahead. It is starting behind Tesla, and traditional car manufacturers have also started to get into the electric vehicle scene. Needless to say, Faraday Future has a large amount of catching up to do. Additionally, traditional cars are currently receiving a boost thanks to low oil prices. The time for a major electric vehicle boom has not happened quite yet. But with electric cars and clean energy being the way of the future, Faraday Future is doing the right thing by getting started as early as possible.
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