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Faraday Future is a California-based company founded in May 2014. It is headquartered in Los Angeles and has offices in Silicon Valley, Beijing, Shanghai, and Chengdu. Faraday Future is focused on developing intelligent mobility solutions and products that will power the envisioned age of all-electric ecosystem.
The company currently offers the FF91 all-electric and autonomous-ready car, its flagship model and first production vehicle. FF91 essentially represents the advancements made by the company till date in terms of automation, intelligence, user experience and performance. The car utilizes a modular platform, which ensures that it can be easily upgraded with newer technologies in the future. FF91 is also known for its gorgeous design that makes it stand out on the streets.
In addition to its electric car, Faraday Future also offers a range of hi-tech solutions for intelligent mobility industry. It offers complete electric powertrain system that can be used by any manufacturing company. The system includes electric motor, battery pack, variable platform architecture (VPA), and autonomous driving solutions. All of these can be customized according to the specific needs and preferences of the client.
Design solutions are another key offering, which clients can use to create a new concept vehicle from scratch. Faraday Future offers related services such as computer aided design modeling and finishing for manufacturing. Clients can get help in terms of brand strategy and visualization as well.
Hi-tech engineering services are also on offer. It includes energy storage and drive unit development, component climate and lifecycle testing, and battery management and motor controls testing. Over the years, Faraday Futures has gone beyond the automotive space to foray in other segments such as marine, aircraft and aerospace, and smart home applications.
History
Faraday Future is a dream project of Jia Yueting, a Chinese businessman. The company’s name has been inspired by Michael Faraday, an English scientist who had contributed to development of electric motor technology, referred to as Faraday’s law of induction.
Funding
Faraday Future has received investments worth USD 3.2 billion via seven rounds of funding. Some of the key investors include Palantir, Geely, Ares Management, Birch Lake Partners, and China Evergrande New Energy Vehicle Group.
Acquisitions
Faraday Future has not made any acquisitions in recent times.
Competitors
Faraday Future competes with other electric mobility solutions providers such as Rivian, Lucid Motors, Karma Automotive, Tesla, Nikola Corporation, Rimac Automobili, Byton, and XPeng.
About the founder
Faraday Future was founded by Jia Yueting, who also owns Leshi Holding Group. He had earlier served as the CEO of Faraday Future. In his career, Jia had founded other companies as well and served at top positions such as CEO and chairman.
