The Rise and Fall of Faraday Future: A Story of Ambition and Adversity

Faraday Future, a company that once promised to revolutionize the electric vehicle industry with its cutting-edge technology and innovative designs, has been on a wild ride since its inception. Founded in 2014 by Yves Behar, a renowned industrial designer, Faraday Future's mission was to create a sustainable future through its electric vehicles. The company boasted an impressive team of employees from top companies like BMW, Tesla, Audi, Google, and Apple, with a total of 750 members worldwide.

In 2016, Faraday Future unveiled its concept car, the Faraday Zero, which showcased its ambitious plans to create a supercar that could generate over 1,000 horsepower. The car featured augmented reality technology, a smartphone-mounted display system, and a unique tunnel design that would channel air towards the batteries to keep them cool. The company claimed that its technology would make electric vehicles more practical and desirable for mass consumption.

However, as time went on, Faraday Future faced significant challenges in bringing its vision to life. Despite having 399 pre-orders just four months before June 30th, 2016, the company suffered a substantial drop in interest, with only 30 customers canceling their orders by November 17, 2022. This sudden loss of momentum led to concerns about the company's financial stability and its ability to deliver its first car on time.

In 2022, Faraday Future announced that it would start deliveries of its flagship model, the FF-91EV, in the last quarter of the year. However, by November, the company voiced substantial doubts about its ability to complete these deliveries. With only $31.76 million in cash left after a significant reduction from $120 million just six months prior, Faraday Future was struggling to stay afloat.

The company's financial woes were compounded by supply chain costs and disruptions caused by the war in Ukraine, which led to a shortage of lithium and raw battery materials. In response, Faraday Future had to remove two board members and sought additional funding from investors to continue its operations. Miraculously, millions of dollars poured in, allowing the company to start producing the FF-91.

Despite these setbacks, Faraday Future remains committed to its vision of creating a sustainable future through electric vehicles. The company plans to differentiate itself from traditional luxury brands by emphasizing technology and personalization. Although specifics about its tech features are scarce, Faraday Future promises that its cars will be capable of customization in ways consumers have never considered.

The company's name, Faraday Future, was inspired by Michael Faraday, an English scientist who discovered electromagnetic induction, a fundamental principle of electric motor technology. While the automotive industry has always been characterized by risks and uncertainties, Faraday Future's story serves as a reminder that even the most ambitious plans can be disrupted by unforeseen challenges.

Will Faraday Future rise to the top of the industry as a major EV player? Only time will tell if the company can overcome its current hurdles and deliver on its promises. Despite the odds stacked against it, the automotive world has witnessed many examples of underdogs rising to success, such as Tesla's remarkable journey from obscurity to becoming one of the leading electric vehicle manufacturers.

For now, Faraday Future remains a topic of interest for investors, car enthusiasts, and anyone curious about the future of sustainable transportation. As the company continues to navigate its challenges and opportunities, one thing is certain: its story will be closely watched by industry observers and enthusiasts alike.

"WEBVTTKind: captionsLanguage: enseveral weeks ago news flashed on the start of production of a brand new Ultra Luxury electric vehicle it's called the ff91 this is the first ever car by fledgling American startup Faraday future intelligent Electric Corporation or Faraday future and it's being built in Hanford California today we're looking at who a startup is and how they expect to compete with Tesla lucid and other American EV makers so Faraday future finally started its production big news not just because this is a flagship EV but also because it came after months of delay here's the thing the last Target delivery of the new EV was slated late last year 2022 but it got moved out several months but collectively you could say it's actually years of delays I'll talk more about that later on the ff91 is Loosely categorized as a crossover and it offers a driving range of 381 miles which is apparently a longer driving range and better acceleration than Tesla Model X it is however well shorted the range leader Lucy with the FF 91 we're talking three electric motors 130 kilowatt hour battery 1050 horses and it can take you from 0 to 60 and 2.39 seconds the car is supposed to be your third Internet space the first being your home the second your smartphone which explains why the car has 11 screens the common expectation is that the car will price on the six figures likely north of 150 000 there's anticipate patient at the company will make another car later that will be below the six digits when the ff81 debuts but for now the ff91 will be sold in the U.S and in China aside from its high price tag you can understand who Faraday future is targeting when you consider the fact that the company plans to open a U.S store this year it's poised to serve as its Flagship brand experience Center and it'll be in you guessed it Beverly Hills California obviously we're talking deep pocketed consumers with extra disposable income the company will prioritize sales in Los Angeles and San Francisco first and then New York City Shanghai and Beijing right now Faraday Futures has two tiers of pre-orders for its vehicle there's five thousand deposits for the Faraday 91 futuristic Alliance tier that tier is currently sold out but then there's the fifteen hundred dollars for the Faraday 91 futurist tier immediately after the announcement that the EV was officially beginning production Fair Day received over 64 000 orders in 36 hours but here's the thing apparently Fair a Futures current production capacity Falls far behind market demand almost everybody in America has heard of Tesla many have also heard of Riven and Lucid but most consumers have never heard of Faraday future and that's because it's a relatively new company it was only founded back in 2014 Which is less than 10 years ago despite it being a young startup it's already seen its fair share of CEOs founder and initial CEO is Chinese businessman Gia you're waiting also known as YT Gia bought that in the company faced some several hard financial issues and he was replaced by Karsten brentfield who had previously worked at BMW and byton later redfeld was replaced by Shue Fung Chang otherwise known as XF and he remains the current CEO today despite the excitement right now with the production of the ff91 the reality is that Faraday's Future's very first plan was to release an EV back in 2017. so you could say it's five years late in aim for its first car to be 100 electric zero emission and fully connected and personalized in Revolutionary Ways at the time the company resided in the former Nissan research and design building in Gardenia California it had 200 employees and it was growing really quickly hiring some 10 new employees each week unfortunately 2017 came and went and no car was ever produced if you're wondering why the five-year delay well here's the funny thing when Faraday future shared its initial Target release date there were still a lot of unknowns first of all the company didn't even have a factory yet and while it seemed like Faraday Futures first model would be built by a contracted U.S manufacturer it was unclear whether major components would be built in other countries or who would build them for that matter and unclear was what was the car going to be called oh and also they had no clear idea who the company CEO was at the time all that was known time about this upcoming car was that it would have four wheels look like a high riding sedan but without internal combustion engine parts there was also a small rendering of the rear of the car available on Faraday Futures website in fact the rendering kind of looked like a low slung BMW X6 Faraday future also made some claims about its batteries according to the company its 2017 model was to have 15 percent higher specific energy than the Tesla Model S 85 kilowatt hour battery pack at the time Faraday future said it was aiming for the highest energy density and specific energy vehicle on the market the battery it was to be a single cell thermal runaway fault Tower same battery design would used in all of its vehicles and only change in capacity not in voltage the module was to be designed for mass production using new processes and Technologies and finally the higher energy density was supposed to allow for larger crumple zones than on the Tesla Model S not only did the promise 2017 car never come out but Faraday future also almost ran out of cash that year but then a company called seasons Mart agreed to fund it with two billion dollars but fairly future burned through season Smart's initial 800 million conjunction too quickly and then had to lay off hundreds of employees it also had to abandon its plan to build a billion Dollar Las Vegas production facility and sell the site for 40 million dollars instead now one advantage the Faraday future had was its employees it had some known names on their roster for example Nick Sampson who was a product architect and former employee in vehicle and Chassis engineering for the Tesla Model S then there was Porter Harris who worked with batteries and was a formal employee at SpaceX also Paige Biermann who was an exterior design Chief and former creative director at BMW then there was Richard Campbell worked as head designer was a former worker with a BMW I8 and BMW I3 concept employee silver 80 worked as a senior director of Powertrain and also worked as former lead powertrain on the Chevy Volt and finally pontus frontaus who worked in interior design and used to work at Ferrari Lamborghini and Land Rover pretty impressive the names that's not all there was apparently a boatload of former Tesla employees at Faraday future including people from HR purchasing and Manufacturing Fair Day future also claimed to be well funded and said it had eight person marketing team already when I asked about not just the liability of the company but the reality of launching a car in 2017. the company said that it wasn't Tesla or Fisker and that it wasn't messing around back in 2016 Faraday Futures shared a glimpse of its super secret car well sort of what I mean is that Faraday future revealed an EV but it wasn't its first production sedan it was a concept car and it was called Faraday zero minus one it had four electric motors with one motor at each wheel it generated thousand horses the technology feature included augmented reality and the majority of vehicle information was displayed on the owner's smartphone that set mounted in the steering wheel the car also had a dramatic tunnel to the chassis That was supposed to channel air towards the batteries to keep them cool at that same show Faraday future revealed that it now had a team of 750 members from companies like BMW Tesla Audi Google and apple 550 were here in the U.S and 200 were brought Faraday Futures thought it would deploy fully electric powertrains multiple motors and customizable variable platform architecture with that a single chassis system would be able to work for a variety of different Vehicles I'm talking everything from super cars to compacts sedans to pickup trucks and SUVs Faraday future also said like Tesla its batteries would be low and flat which would improve handling and safety for all of its vehicles and easily adapt to any vehicle configuration as well Faraday Futures said it would be focusing on autonomy and automated communication between cars on the road this would make for more efficient driving and congested environments and reduce overall stress on the passengers no this sounds great in theory but that's exactly what it was a theory or concept no one actually really knew whether any of this would ever happen and if it were to happen the other burning question was will the EV be feasible and practical for the mass Market anyway fast forward to 2022. the company planned to start deliveries on its first car in the last quarter of 2022 but by the time November came Faraday future voiced substantial doubt about its ability to continue and it wasn't sure it would be able to complete the first deliveries of the ff91ev reason is by the end of last June the company had 120 million dollars in cash left the following quarter that dropped to 31.76 million dollars in cash Not only was Faraday future suit for seeking the removal of two board members but it also had to face the same supply chain costs and disruptions that hit the industry hard last year because the war in Ukraine lithium and raw battery materials caused them also Skyrocket so you can see why Faraday future doubts on whether it could make delivery last year as of November 17 2022 Faraday future had 369 pre-orders but consider the fact that four months prior to June 30th it had 399 pre-orders in other words in four months 30 people pretty much dropped out and wanted a refund of their ff-91 pre-orders by the way last year Faraday future stock nose dived around 94 because of that Faraday future Senate needed extra funds to continue financing its operations and to ramp up production fortunately for Faraday future millions of fundies did come through and that's how it was finally able to start producing the ff91 several weeks ago Faraday Futures expects to compete with traditional Ultra Luxury Brands like Ferrari Maybach Rolls-Royce and Bentley if you're wondering how Faraday future will compete against other EV makers well it plans to differentiate itself in several ways but two of the main ways are through technology and personalization Faraday Future's been teasing a slew of tech features for its ff91 and it says the car can be personalized in a ways consumers haven't even considered it to be possible there's not much specific details on that for now though by the way if you're a science Guru you might know the company was named after but for most of us who aren't as adaptable science while the company was named after an Englishman Michael Faraday he's a scientist who discovered electromagnetic induction which is a founding principle of electric motor technology anyway can our welfare day future rise to the top of the industry as a major EV player well it's not impossible true the cards are stacked against it and it's had a very Rocky start but then again the cards have almost always been stacked against Tesla 2 and look where he is now but now you tell me what do you think about Faraday future is this your first time hearing about the company please share by commenting below if you like this video please like share and subscribe thanks for your supportseveral weeks ago news flashed on the start of production of a brand new Ultra Luxury electric vehicle it's called the ff91 this is the first ever car by fledgling American startup Faraday future intelligent Electric Corporation or Faraday future and it's being built in Hanford California today we're looking at who a startup is and how they expect to compete with Tesla lucid and other American EV makers so Faraday future finally started its production big news not just because this is a flagship EV but also because it came after months of delay here's the thing the last Target delivery of the new EV was slated late last year 2022 but it got moved out several months but collectively you could say it's actually years of delays I'll talk more about that later on the ff91 is Loosely categorized as a crossover and it offers a driving range of 381 miles which is apparently a longer driving range and better acceleration than Tesla Model X it is however well shorted the range leader Lucy with the FF 91 we're talking three electric motors 130 kilowatt hour battery 1050 horses and it can take you from 0 to 60 and 2.39 seconds the car is supposed to be your third Internet space the first being your home the second your smartphone which explains why the car has 11 screens the common expectation is that the car will price on the six figures likely north of 150 000 there's anticipate patient at the company will make another car later that will be below the six digits when the ff81 debuts but for now the ff91 will be sold in the U.S and in China aside from its high price tag you can understand who Faraday future is targeting when you consider the fact that the company plans to open a U.S store this year it's poised to serve as its Flagship brand experience Center and it'll be in you guessed it Beverly Hills California obviously we're talking deep pocketed consumers with extra disposable income the company will prioritize sales in Los Angeles and San Francisco first and then New York City Shanghai and Beijing right now Faraday Futures has two tiers of pre-orders for its vehicle there's five thousand deposits for the Faraday 91 futuristic Alliance tier that tier is currently sold out but then there's the fifteen hundred dollars for the Faraday 91 futurist tier immediately after the announcement that the EV was officially beginning production Fair Day received over 64 000 orders in 36 hours but here's the thing apparently Fair a Futures current production capacity Falls far behind market demand almost everybody in America has heard of Tesla many have also heard of Riven and Lucid but most consumers have never heard of Faraday future and that's because it's a relatively new company it was only founded back in 2014 Which is less than 10 years ago despite it being a young startup it's already seen its fair share of CEOs founder and initial CEO is Chinese businessman Gia you're waiting also known as YT Gia bought that in the company faced some several hard financial issues and he was replaced by Karsten brentfield who had previously worked at BMW and byton later redfeld was replaced by Shue Fung Chang otherwise known as XF and he remains the current CEO today despite the excitement right now with the production of the ff91 the reality is that Faraday's Future's very first plan was to release an EV back in 2017. so you could say it's five years late in aim for its first car to be 100 electric zero emission and fully connected and personalized in Revolutionary Ways at the time the company resided in the former Nissan research and design building in Gardenia California it had 200 employees and it was growing really quickly hiring some 10 new employees each week unfortunately 2017 came and went and no car was ever produced if you're wondering why the five-year delay well here's the funny thing when Faraday future shared its initial Target release date there were still a lot of unknowns first of all the company didn't even have a factory yet and while it seemed like Faraday Futures first model would be built by a contracted U.S manufacturer it was unclear whether major components would be built in other countries or who would build them for that matter and unclear was what was the car going to be called oh and also they had no clear idea who the company CEO was at the time all that was known time about this upcoming car was that it would have four wheels look like a high riding sedan but without internal combustion engine parts there was also a small rendering of the rear of the car available on Faraday Futures website in fact the rendering kind of looked like a low slung BMW X6 Faraday future also made some claims about its batteries according to the company its 2017 model was to have 15 percent higher specific energy than the Tesla Model S 85 kilowatt hour battery pack at the time Faraday future said it was aiming for the highest energy density and specific energy vehicle on the market the battery it was to be a single cell thermal runaway fault Tower same battery design would used in all of its vehicles and only change in capacity not in voltage the module was to be designed for mass production using new processes and Technologies and finally the higher energy density was supposed to allow for larger crumple zones than on the Tesla Model S not only did the promise 2017 car never come out but Faraday future also almost ran out of cash that year but then a company called seasons Mart agreed to fund it with two billion dollars but fairly future burned through season Smart's initial 800 million conjunction too quickly and then had to lay off hundreds of employees it also had to abandon its plan to build a billion Dollar Las Vegas production facility and sell the site for 40 million dollars instead now one advantage the Faraday future had was its employees it had some known names on their roster for example Nick Sampson who was a product architect and former employee in vehicle and Chassis engineering for the Tesla Model S then there was Porter Harris who worked with batteries and was a formal employee at SpaceX also Paige Biermann who was an exterior design Chief and former creative director at BMW then there was Richard Campbell worked as head designer was a former worker with a BMW I8 and BMW I3 concept employee silver 80 worked as a senior director of Powertrain and also worked as former lead powertrain on the Chevy Volt and finally pontus frontaus who worked in interior design and used to work at Ferrari Lamborghini and Land Rover pretty impressive the names that's not all there was apparently a boatload of former Tesla employees at Faraday future including people from HR purchasing and Manufacturing Fair Day future also claimed to be well funded and said it had eight person marketing team already when I asked about not just the liability of the company but the reality of launching a car in 2017. the company said that it wasn't Tesla or Fisker and that it wasn't messing around back in 2016 Faraday Futures shared a glimpse of its super secret car well sort of what I mean is that Faraday future revealed an EV but it wasn't its first production sedan it was a concept car and it was called Faraday zero minus one it had four electric motors with one motor at each wheel it generated thousand horses the technology feature included augmented reality and the majority of vehicle information was displayed on the owner's smartphone that set mounted in the steering wheel the car also had a dramatic tunnel to the chassis That was supposed to channel air towards the batteries to keep them cool at that same show Faraday future revealed that it now had a team of 750 members from companies like BMW Tesla Audi Google and apple 550 were here in the U.S and 200 were brought Faraday Futures thought it would deploy fully electric powertrains multiple motors and customizable variable platform architecture with that a single chassis system would be able to work for a variety of different Vehicles I'm talking everything from super cars to compacts sedans to pickup trucks and SUVs Faraday future also said like Tesla its batteries would be low and flat which would improve handling and safety for all of its vehicles and easily adapt to any vehicle configuration as well Faraday Futures said it would be focusing on autonomy and automated communication between cars on the road this would make for more efficient driving and congested environments and reduce overall stress on the passengers no this sounds great in theory but that's exactly what it was a theory or concept no one actually really knew whether any of this would ever happen and if it were to happen the other burning question was will the EV be feasible and practical for the mass Market anyway fast forward to 2022. the company planned to start deliveries on its first car in the last quarter of 2022 but by the time November came Faraday future voiced substantial doubt about its ability to continue and it wasn't sure it would be able to complete the first deliveries of the ff91ev reason is by the end of last June the company had 120 million dollars in cash left the following quarter that dropped to 31.76 million dollars in cash Not only was Faraday future suit for seeking the removal of two board members but it also had to face the same supply chain costs and disruptions that hit the industry hard last year because the war in Ukraine lithium and raw battery materials caused them also Skyrocket so you can see why Faraday future doubts on whether it could make delivery last year as of November 17 2022 Faraday future had 369 pre-orders but consider the fact that four months prior to June 30th it had 399 pre-orders in other words in four months 30 people pretty much dropped out and wanted a refund of their ff-91 pre-orders by the way last year Faraday future stock nose dived around 94 because of that Faraday future Senate needed extra funds to continue financing its operations and to ramp up production fortunately for Faraday future millions of fundies did come through and that's how it was finally able to start producing the ff91 several weeks ago Faraday Futures expects to compete with traditional Ultra Luxury Brands like Ferrari Maybach Rolls-Royce and Bentley if you're wondering how Faraday future will compete against other EV makers well it plans to differentiate itself in several ways but two of the main ways are through technology and personalization Faraday Future's been teasing a slew of tech features for its ff91 and it says the car can be personalized in a ways consumers haven't even considered it to be possible there's not much specific details on that for now though by the way if you're a science Guru you might know the company was named after but for most of us who aren't as adaptable science while the company was named after an Englishman Michael Faraday he's a scientist who discovered electromagnetic induction which is a founding principle of electric motor technology anyway can our welfare day future rise to the top of the industry as a major EV player well it's not impossible true the cards are stacked against it and it's had a very Rocky start but then again the cards have almost always been stacked against Tesla 2 and look where he is now but now you tell me what do you think about Faraday future is this your first time hearing about the company please share by commenting below if you like this video please like share and subscribe thanks for your support\n"