When all else fails, talk up the future. In this case, after making headlines because of the shut-down of construction plans for its Nevada factory, Faraday Future just released a rendering of a different manufacturing facility, this one in Hanford, California. The new facility used to make tires, when it was owned by Pirelli. The company says that this facility, “marks another significant step forward for the company in delivering its first production vehicle, FF 91, to market by the end of 2018.”
That prediction is, of course, still the subject of some controversy. The wealthy investor behind FF, Jia Yueting of LeEco, admitted recently that the money is getting tight. Faraday has said that Yueting’s money woes won’t affect its plans to build its first car, and this latest announcement includes a statement from Dag Reckhorn, Faraday Future’s vice president of global manufacturing, who is apparently the leader of getting the Hanford site up and running: “Our new production facility is the latest demonstration of our commitment to getting FF 91 on the road by the end of 2018. Despite significant head winds on the path ahead of us, we are laser-focused on that one key milestone.”
Akshay Anand, an executive analyst for Kelley Blue Book, said it will be an uphill climb for FF:
Faraday Future seems to be getting more serious about its vision. The new leadership has deep industry expertise and the company is focusing on the FF 91 model. Now, Faraday has admitted its Nevada site was a mistake and secured a facility that will be more cost-effective and allow better speed to market. Given the rapid industry advances in electric vehicles, these are critical aspects for success. Faraday still has an uphill road given that producing a vehicle is a daunting task, and other electric vehicles are dominating the headlines, but at the very least, there is now some potential in a situation that was starting to look bleak.
When all else fails, talk up the future. In this case, after making headlines because of the shut-down of construction plans for its Nevada factory, Faraday Future just released a rendering of a different manufacturing facility, this one in Hanford, California. The new facility used to make tires, when it was owned by Pirelli. The company says that this facility, “marks another significant step forward for the company in delivering its first production vehicle, FF 91, to market by the end of 2018.”
That prediction is, of course, still the subject of some controversy. The wealthy investor behind FF, Jia Yueting of LeEco, admitted recently that the money is getting tight. Faraday has said that Yueting’s money woes won’t affect its plans to build its first car, and this latest announcement includes a statement from Dag Reckhorn, Faraday Future’s vice president of global manufacturing, who is apparently the leader of getting the Hanford site up and running: “Our new production facility is the latest demonstration of our commitment to getting FF 91 on the road by the end of 2018. Despite significant head winds on the path ahead of us, we are laser-focused on that one key milestone.”
Akshay Anand, an executive analyst for Kelley Blue Book, said it will be an uphill climb for FF:
Faraday Future seems to be getting more serious about its vision. The new leadership has deep industry expertise and the company is focusing on the FF 91 model. Now, Faraday has admitted its Nevada site was a mistake and secured a facility that will be more cost-effective and allow better speed to market. Given the rapid industry advances in electric vehicles, these are critical aspects for success. Faraday still has an uphill road given that producing a vehicle is a daunting task, and other electric vehicles are dominating the headlines, but at the very least, there is now some potential in a situation that was starting to look bleak.
