Faraday Future's first car secures over 64,000 reservations

EV-maker Faraday Future says it has received 64,124 reservations for the car it unveiled at CES within 36 hours of the event. Sure, that’s nowhere near the 232,000 pre-orders Tesla got for Model 3 in a day, but we’re talking about company that has yet to release a product — in fact, the model it presented at CES (an SUV called the FF 91) is its first car ever. Sadly, Faraday Future didn’t say how many paid $5,000 for priority reservation and how many opted for the free standard option. That means we also can’t say if it racked up enough money to keep going.

The electric-automaker was reportedly plagued by all kinds of money trouble last year, you see, from bills and rent to lawsuits. Things were so bad, various sources said it could shutter by February 2017 if it fails to raise funds after CES. The company would have made over $320 million if all 64,124 slots chose the priority option, but we somehow doubt everyone paid up, even if it is refundable. As Electrek said, the free reservation tier makes it hard to gauge how many people are actually interested in buying and how many merely signed up to keep an eye on new updates.

One thing’s clear, though: FF 91 successfully piqued people’s curiosity. Whether that will translate to sales, who knows. The flashy electric SUV is an all-wheel drive, has a 378-mile range and can go from 0 to 60 in 2.39. Faraday Future hasn’t revealed how much one would cost you yet, but it plans to start production in 2018.

Source: Faraday Future

Source: Engadget - Read the full article here

Author: Daily Tech Whip

This article is part of our 'News Tiles' service. The site is currently in Beta. When it is fully operational you will be able to search through and arrange the 'Tiles' to display a keyword, product or technology over your chosen time period. For example you would be able to display all of the leading tech articles on the new Kindle Fire, in one spot in real time. You will also have access to our own original reporting and analysis as well as a polished place to post your own thoughts & reviews here, amongst the Daily Tech Whip Community. Please let us know if you have any feedback via the contact form or via Twitter. Don't forget to come back next week and see our full site and claim your name and your own free tech blog.

Share This Post On