Faraday Future Intelligence Electric Inc. is on schedule to begin production of its flagship vehicle in the third quarter of this year.
The FF 91 from the Gardena manufacturer is a four-door electric vehicle with three motors. It is able to accelerate from 0 to 60 miles per hour in less than three seconds and has lithium-ion batteries with a range of 300 miles per charge.
In February, the company said it had reached a milestone when it unveiled the first production-intent FF 91 ultra-luxury electric car at its Hanford manufacturing plant in Northern California.
Matt Tall, vice president of manufacturing at Faraday, said that building the first production-intent vehicle at the Hanford factory is an important step towards reaching the start of production in the third quarter.
“This iteration is the closest to the FF 91 production model we’ve seen to date,” Tall said in a statement. “The FF 91 is expected to be the first ultra-luxury (electric vehicle) to reach the market.”
Faraday will build more production-intent vehicles over the coming months for testing and validation, as well as final certification. Production-intent vehicles feature production-specification components.
Carsten Breitfeld, global chief executive of Faraday, highlighted the production-intent vehicle in a statement in a release to announce first-quarter earnings on May 23.
Also highlighted in his statement was that Myoung Shin Co. Ltd., an automotive manufacturer headquartered in South Korea, has been contracted to make Faraday Future’s second vehicle, the FF 81, with start of production scheduled for 2024. Breitfeld added that Faraday had secured its dealer license from the state, allowing the company to sell its cars online nationally.
The rise in the operating loss was primarily driven by an increase in engineering, design, and testing (ED&T) services as the company re-engaged suppliers and made significant purchases for ED&T services to progress the development of the FF 91, and a significant increase in headcount and employee-related expenses, according to a company release.
The California dealer license makes it possible for Faraday to sell directly to users in the state and to sell vehicles online to users outside of California. Faraday will go to market using a unique direct sales model leveraging its online platforms, Faraday Future stores, and partner showrooms for an asset-light sales network.
The company announced earlier this month that it would open its flagship brand experience center at 464 N. Beverly Drive in Beverly Hills.
