Electric car maker Faraday Future has reportedly received a USD900 million investment from Tata Motors which could most likely save the struggling startup.
After a spate of ups and downs which included key executives exiting the company and the stalling of the construction of its USD1 billion factory, the ailing startup may have gotten the lifeline it needs. Its saviour, Indian monolith Tata Motors. According to the media outlet Gasgoo, Faraday Future has attracted as much as USD900 million in funding from the Indian car maker. The latter has acquired a 10% stake in the struggling company.
As of now, there are no statements from either companies to confirm the reports, however, this financial help could open up opportunities for both companies. As an example, the financial help can not only save Faraday Future from closing its doors for good, but it could also result in Tata cars getting connected technologies from Faraday Future while under the partnership with the Chinese carmaker LeEco.
When Faraday Future unveiled their first production car, the FF91, the company recorded a total booking number of 64,000 reservations. However, they didn’t mention about the number of reservations which included the USD5,000 refundable deposit. So, it is unclear as to how many have actually reserved a FF91. Only time will tell.
The FF91 is the startup company’s first ever “production” model. It made its debut at the CES 2017 and stole the show with its futuristic design and class-leading performance as well as its powertrain. The large vehicle comes equipped with three electric motors and is capable of doing the century sprint in just 2.39 seconds. That in comparison, is slower than the Tesla Model X P100D according to the promotional video posted by Faraday Future.
Back to the performance of the FF91. The three electric motors churn out a whopping 1,050bhp. Also, the company claims a full EV range of over 300 miles per charge. Other features equipped on the new electric car includes a retractable LIDAR system, a smart parking system which is controlled via a smartphone and other class-leading technological advancements.
How about the price? Faraday Future failed to mention an exact price tag amongst other questions thrown in by the media, but there is a rumor of the FF91 retailing between USD100,00 to USD120,000 (MYR418,250 to MYR501,900).
Source: FF
