Faraday Future to unveil production car at CES 2017
SAN FRANCISCO — Faraday Future is promising that its electric car future isn't that far off.
The Chinese-backed, Los Angeles-based startup announced Wednesday that it plans to unveil its first production car at the Consumer Electronics Show in Las Vegas this January.
Faraday had a huge coming out party at CES 2016, but disappointed industry watchers by dramatically taking the wraps off a one-of-a-kind racing car, the FFZERO1, that provided no hints at what market segment the company planned to attack.
News of the upcoming production car reveal came by way of a brand launch event here for Chinese consumer product company LeEco, which is also Faraday's financial backer. LeEco hopes to become a U.S. force in tech products ranging from phones to vehicles (LeEco was supposed to show off an electric prototype, the LeSee Pro, but it was involved in an accident prior to its debut).
During the event, LeEco CEO YT Jia was joined on stage by Marco Mattiacci, Ferrari's ex-Formula 1 team boss and now Faraday's chief brand and commercial officer. In conversation, Jia casually mentioned that Faraday would likely use CES 2017 as a launch pad for a new electric car, which Faraday Future representatives later confirmed.
Faraday Future has nearly 1,000 engineers and product experts at its headquarters in Gardena, Calif. It plans to build a $1 billion factory north of Las Vegas, but reports indicate that build-out remains on hold over financing concerns.
Tesla remains the ranking king of upmarket EVs with its $100,000 Model S and X sedans, and hopes to boost its production tenfold to 500,000 units a year once its entry-level Model 3 sedan comes on line next year.
But CEO Elon Musk has to be looking in his rear view mirror. A range of automakers and startup tech companies are pushing ahead with alt-tech vehicles that often leverage battery power and frequently promise varying degrees of autonomy.
General Motors even beat Tesla out of the gate in the mid-priced EV category by pulling the wraps off its $38,000 Bolt well ahead of the Model 3's debut.
Faraday's future will be anchored to making sure it isn't stalled in pit lane while other automakers are out on the EV sales track.
Follow USA TODAY tech reporter Marco della Cava @marcodellacava