What is Faraday Future?
To date, Faraday has not started production on its concept cars. It planned to open a $1 billion manufacturing plant in Nevada, but those plans were cancelled in 2017. The company had initially planned to develop seven cars, but scaled back its electric car lineup to two vehicles, the FF 91 and a slightly smaller, less expensive crossover called the FF 81.
What is the FF 91?
The all electric FF 91 is said to hustle to 60 mph in 2.39 seconds with a max range of 378 miles. Additionally, the FF 91 packs a suite of self-driving features, thanks to 10 cameras, 13 radar sensors, one 3D lidar sensor, and 12 ultrasonic sensors. Working together, Faraday says the FF 91 can drive itself, park itself, and seamlessly connect with all of your mobile devices. The car is expected to cost over $200,000 when it is available.
How will Faraday capitalize on subscription services for cars?
Faraday believes that consumers are ready to move away from car ownership and adopt a subscription-based model where people can use different cars based on their needs. For instance, if you need to go to work, you could call up a sedan or coupe. But if you have to stop at Home Depot on your way home, you can call in for a SUV or pick-up truck. The company plans to initially sell cars, but also experiment with subscription models like Uber or Zipcar.