California-based electric vehicle (EV) startup, Faraday Future, has announced the start of production for its flagship model, the FF 91. The company is backed by data analytics firm Palantir Technologies and has been working on developing a range of EVs since its founding in 2014.
The FF 91 is a luxury electric SUV with an estimated range of over 300 miles per charge. The vehicle boasts impressive specs such as a top speed of over 150 mph and acceleration from zero to sixty miles per hour in less than three seconds.
According to Faraday Future's CEO Carsten Breitfeld, the start of production marks "a significant milestone" for the company after years of development setbacks and financial struggles. He added that they are "excited to deliver our first vehicles to customers soon."
Faraday Future aims to compete with established players like Tesla and General Motors in the rapidly growing EV market. With Palantir's backing, the company has also been able to secure investments from other high-profile investors such as Chinese tech giant Tencent Holdings Ltd.
The startup plans to begin customer deliveries later this year but has yet to reveal pricing details or specify how many units will be produced initially.
In addition to its flagship model, Faraday Future is also working on developing other models including an electric crossover SUV called the FF81. The company recently secured approval from regulators in China for a manufacturing facility that will enable it to produce up 1 million vehicles annually.
As more automakers enter into competition in this burgeoning sector, it remains unclear how well Faraday Future will fare against established rivals like Tesla or emerging competitors like Lucid Motors or Rivian Automotive LLC. Nevertheless, industry analysts expect continued growth for EVs globally as governments incentivize consumers towards cleaner energy alternatives while phasing out fossil fuel-based transportation solutions gradually.
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