Published on January 7th, 2017 | by Steve Hanley
Faraday Future FF 91 Gets 64,000 Reservations From CES 2017
64,000 people reserved a Faraday Future FF 91 after the car was officially unveiled at the 2017 Consumer Electronics Show. While not as impressive as the nearly 400,000 reservations Tesla has for the Model 3, it’s still an indication that there is strong interest in the premium priced all electric SUV.
According to all reports, the FF 91 will be the fastest production electric car in the world, beating the Tesla P100D by a few tenths of a second. It will also compete in the hottest segment of the automotive market. The American public has gone completely mad for SUVs and it has very few electrified models to choose from in that category.
The FF 91 is reported to have three electric motors, a 130 kWh battery, and a range of 380 miles. That trumps (you should pardon the expression) the Tesla Model X in a all three categories. While no official prices have been announced, rumors suggest that the cars will cost between $150,000 and $200,000, a significant premium over the Model X.
Of course, most if not all of those reservations are from people who put no money down to hold their place in line. The company says it will make 300 limited edition cars, which require a $5,000 deposit. So at the very most, 300 of that 64,000 total are paid reservations. The rest are simply from people who have indicated they might be interested in purchasing an FF 91 at some point in the distant future, if and when the company actually puts the car into production.
What are the chances of that happening? Frankly, not very good. The company’s principal investor is Chinese billionaire Jia Yueting. Jia seems to have about as much impulse control as Donald Trump. In addition to Faraday Future, he is a major investor in Lucid Motors, formerly known as Atieva. Neither company has a factory yet. Construction on the Faraday Future factory has been halted among claims of millions in unpaid bills. The Lucid factory is in the planning stages with the local county trying to figure out how to pay for the land so they can lease it back to the company.
Lucid has another problem. It plans to open a parts factory across the border in Mexico. There are about three people in America who don’t know that The Trumpster is threatening any car manufacture who makes parts or cars in Mexixco with punitive tariffs. Might be time for Lucid Motors to rethink that plan.
64,000 reservations comes as a surprise to many industry observers. The general thinking that Faraday Future, which has seen many of its top executives flee like rats from a sinking ship lately, has about 2 months at most to get is financial house in order. The FF 91 is actually an attractive car for those who can afford it. Will it ever see production? The odds of that happening are not very good at this point.