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HomeAutomobileFaraday Future sets FF 91 crossover price at $309,000 amid company struggles

Faraday Future sets FF 91 crossover price at $309,000 amid company struggles

Electric vehicle manufacturer Faraday Future has launched pre-orders for its FF 91 2.0 Futurist Alliance crossover, with the launch edition starting at $309,000. The vehicle, which Faraday describes as a combination of hypercar, sedan and SUV, boasts three electric motors generating 1,050 hp and acceleration to 60 mph in 2.3 seconds. The EV’s battery pack is rated at 143 kilowatt-hours, giving it a range of 381 miles on the EPA testing cycle. Key interior features include a 27-inch rear display for streaming video and multiple driver-facing displays in the front of the cabin. The FF 91 will initially be sold in the US and China.

Faraday Future Intelligent Electric Inc. has struggled to secure financing and has repeatedly delayed its launch due to funding issues, as well as facing boardroom drama and regulatory scrutiny over the past year. The company was founded in 2014 by Chinese businessman Jia Yueting, and the first version of the FF 91 was shown to the public in 2017. Faraday said in May that it was raising $100m in debt to support FF 91 production along with sales and service operations. Bloomberg reported that Faraday has burned through more than $3bn since the company was founded. The FF 91’s launch edition will be limited to 300, while Faraday will also offer a less-expensive version, the FF 91 2.0 Futurist, at $249,000 before shipping, including a $1,000 public charging credit at participating charging networks.

The FF 91’s high price tag has led analysts to question its potential success, particularly for a startup on shaky financial ground. Robby DeGraff, product and consumer insights analyst at AutoPacific, said, “while its big range, purported performance and design are all intriguing, its price tag is pure sticker shock. A startup unfortunately plagued by delays asking $250,000 to $309,000 for its first product is a dicey move, and any lingering consumer scepticism of FF may be sticking around a bit longer.” Faraday is also offering a connected-car subscription for $14,900 a year, and in the future, plans to offer an internet package using satellite communication.

Faraday hopes to compete with established ultra-luxury automakers such as Ferrari, Rolls-Royce and the Maybach line from Mercedes-Benz. The automaker said that its first vehicle deliveries would go to “our industry expert Futurist Product Officers” who will be given “the first chance to pay in full to reserve and experience the innovative FF 91.” It remains unclear how buyers will qualify as “industry expert FPOs,” as outlined in presentation materials. Faraday said delivery volume this year will depend on its production ramp-up and that it hopes to scale in size to match niche automakers such as Rolls-Royce or Bentley.

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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