Faraday Future Production Ceased, on Financial Crisis

Five months ago, a mysterious vehicle industry Faraday Future turned on in building a factory of a billion American dollar to produce electric cars that would outperform even Tesla motors. Today, unfortunately Faraday Future is reported as facing increasing amid skepticism, production delays and finance instabilities.

Faraday Future

Source: www.flickr.com

Last week, a former executive quoted on expressing that Faraday Future’s debut vehicle is really not about to challenge Tesla motors. However, the company had huge plans on production amid the skepticism and crisis. The company is about to develop 13 models among which 9 of them are already trademarked or filed for patent.

The first car on production is expected to go for sale by the end of next year which is priced around $150,000. The vehicle is expected to take on Tesla Model S and believed to be larger, bulkier and beautiful than the Model S.

Even though Faraday Future’s engineering is making much progress, the company has already asked the Californian officials about autonomous vehicle testing. A former executive commented that this might end up along with Google trying to license autonomy.

An upcoming model of Faraday Future was revealed during the consumer electronics show in January. The production crisis ended up in restricting the company in showing a non functioning concept car’s version.

The biggest crisis being faced by the company is all about finance. It is reported that ‘Jia Yueting’ the founder of FF is losing his fortune from 8 billion dollar to 5 billion dollar. Jia has already disclosed trading in Chinese markets in late December and are to be restored.

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