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Faraday Future set for first production model reveal

By raccars Published


Tesla rival Faraday Future looks set to show off its first ever production car at CES 2017.

Start-up Faraday Future promised its electric car would be being produced within two years when it made an appearance at this year’s Consumer Electronics Show (CES) and it is now planning to unveil its first ever production model at the next CES event in January.

The company took to Twitter to ‘unveil the future’ and announce what it claims is the fourth step of its development, accompanied by a CES hashtag. The car which will be unveiled will be underpinned by the VPA, Variable Product Architecture, platform as this was what was unveiled on the concept FFZero1 car, which Faraday Future showed at CES 2016.

The FFZero1 was built as a means of demonstrating the modular platform’s flexibility and was deemed to be a fantasy-type electric supercar. This means that its design is not likely to bear any resemblance to the first production car created by Faraday Future when it is eventually unveiled.

The latest news on the Faraday Future project

It is likely that the new electric car which will be showcased at CES 2017 will be a crossover utility vehicle and Faraday Future revealed earlier this month that LG Chem will be supplying the battery cells for the car. In August, what was believed to the prototype for the first Faraday Future production model was seen around Los Angeles but was heavily camouflaged to keep the details under wraps.

All that could be seen was that the body was tall and it has a rear hatch which combined to give it a silhouette akin to other crossovers. There is also an unmistakable crossover influence to the teaser images which Faraday Future used in its CES 2016 presentation to the press and also on the company’s website.

Faraday Future has also suggested that it will enter the market alongside other more established rivals such as Tesla by engaging in the building of self-driving cars, although this is not likely to happen straight away.

Alleged construction payment delay

In other news, it was reported this week that Faraday Future has fallen behind on its construction bills. A construction company which is working on Faraday’s $1 billion (around £819 million) factory in Nevada warned the start-up that work could stop if millions of pounds’ worth of bills were not paid.

Earlier this month, the project executive and vice president of AECOM, Robert Grey, wrote a letter stating that a $21 million (around £17 million) deposit which was due in September had not been paid. The executive from the company tasked with overseeing around $500 million of the work at the three-million square foot factory, said that the money was to cover subcontractor work and material costs.

The letter gave Faraday Future ten days to put money into an escrow account or risk a work suspension until the issue of funding was resolved. The letter also stated that further payments of around $25.3 million would be due for October, together with around another $11.8 million for November.

More about Faraday Future

Faraday is backed largely by Jia Yueting, a Chinese technology billionaire. It started development of its Nevada site in the summer but most of the work has centred on grading of the site so far. The laying of the foundations and the creation of the building on the site, which measures around 900-acres, is not expected to begin for several months.

The company plans to use its factory to create a variety of full electric cars. The start-up was persuaded to take on the Nevada development by a $215 million package of incentives which were approved at the end of December 2015.

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