The FF91 is the brand’s flagship, so the new model will sit below it. The troubled company will benefit from $1.5 billion investment
The smaller SUV, which would be priced lower than the FF91 and will likely sell in higher volumes, has styling disctinct from its larger sibling, with a more angular look and aggressive bodywork.
The announcement comes after an Faraday Future source revealed to Business Insider that the beleaguered EV brand will benefit from $1.5 billion of investment from a Hong Kong-based backer. Around a third of this is already provided up front, and the rest is promised once certain targets have been met. The aim is to have the FF91 on the market by the end of 2018.
The brand’s ultra-aggressive attempt at bringing the FF91 to market, including the construction of an all-new Nevada-based factory to deliver production targets, have led the company, led by founder Jia Yueting into financial troubles, casting doubts over whether the FF91 would ever make it onto roads.
The FF91 has a 130kWh battery pack giving more than 435 miles of range, although it’s likely that the smaller car will have a shorter range, with its more compact dimensions cutting down on space for batteries.
Dag Reckhorn, Faraday Future’s global manufacturing boss updated a room of 200 supplier representatives on the brand’s factory progress: ”Our Hanford factory project is developing according to our planned schedule, and we appreciate the support give to us by the City of Hanford.”
“We will move forward on construction and equipment by the end of the quarter. We remain on an aggressive, yet workable timeline of year-end delivery for the FF91.”