Published Date : Nov 09, 2015
In the auto industry, there is never a shortage of startups, however, a new which is enveloped in mystery is enjoying its media moment – in a mega way.
The startup, Faraday Future, as it is called is happening in the Los Angeles suburb. The startup slated to hold a promise of US$1 bn fosters a technology-first, user-centric approach which aims to design the vehicle with the endeavor to connect the automotive experience to the rest of the life of the user. In other words, the startup aims to take on Tesla Motors, the electric-vehicle maker’s approach.
The electric-vehicle venture is set apart from its promise of a billion dollar investment, and also lack of information regarding who is backing the project. The details of the startup are revealed at the time when the tech industry observers are on the lookout for clues that may be revealed regarding the computer giant Apple’s plans to launch its own electric car.
In this scenario, if Faraday is fronting Apple, which is the topic of speculation of at least one prominent media post, thence, it is doing so in plain sight. In this regard, Faraday has a well-developed website, press releases are being issued, and is also touting that it to have four vice presidents who are Tesla veterans.
Furthermore, Faraday is also trying to create competition among states where the company is going to build factories. In this regard, California, Georgia, Nevada, and Louisiana are slated for phase-one investment.
As far as automotive startups are concerned, big claims in not a new thing. However, only a few actually make it. In the list of failures carried out in the past by high-tech automakers are hybrid-car makers Aperta Motors, Fisker Automotive, Think, and Coda. Nevertheless, only few have been able to gather the kind of attention that Faraday has in only four days.