Which company is defining the future of electric cars, Tesla or Faraday Future?
I feel Tesla is well ahead of Faraday future in terms of commercializing their products.
Faraday future is keeping stuff in the beta prototype stage or not starting a full scale production like Tesla
For the public to accept the car for the price the company claims, the car should be reasonable and affordable. Tesla model 3 being sold at $35,000 is fairly good and people get a bang for the buck. Whereas Faraday is weary of releasing a car for the broader audience.
Faraday came with FF91 and stated it does better in range and top speed than a model X because of their battery technology but it is expected that the FF91 may very well be priced a little less than $300,000. This puts Tesla in the front as providing similar products at a far less price
Faraday is running into numerous hurdles like
- Without a proper factory in place for production
- Leadership issues and they brought in Jia Yueting founder of le.com as CEO
- Cash flow issues
It seems far fetched whether Faraday future will be a competitor for Tesla and will go on to define future of Electric cars and FF is definitely not a Tesla killer as it was touted initially. I might be wrong too as Faraday Future remains a company which doesn't announce much to the public. But with the scenarios for Faraday future to define the future it seems a long shot.