Tech

Faraday Future CEO Says 2018 FF91 Would Cost Less Than 2 Million Chinese Yuan

By Mandy Adams , Jan 16, 2017 11:12 AM EST

Faraday Future finally revealed how much its all-electric vehicle would cost albeit in Chinese yuan not in dollars. In an interview with the company's CEO Jia Yuetin, he revealed that the final price tag for the 2018 FF91 will be "less than 2 million Chinese Yuan."

2018 FF91 Price Tag

In an interview in China, Yuetin mentioned that the price for the FF91 will not exceed 2 million Chinese Yuan, this translates to roughly $280,000. Earlier speculations suggested that the Faraday Future's electric vehicle would cost from $150,000 to $300,000.

Since the vehicle's final price would be in the upper range, it would be challenging to sell such vehicles. People expected that the car will be expensive but at this range, the price might be too high.

Faraday Future

Faraday Future commanded a lot of attention during the CES 2017 when they produced a car despite controversies that the company is on the brink of bankruptcy. Despite the company's success in unveiling the FF91, a lot of people have second thoughts whether they could produce the car they promised in 2018.

The company's prototype impressed many people during the CES. If not for the much-publicized cash flow problems of the company, it will stand a better chance to overtake Tesla in the electric car industry. While Tesla should never be complacent, Faraday Future is not much of a threat due to its financial troubles. It is worth noting, however, that prototypes have already been taken on a test drive.

The company may have produced a car for CES but there is no denying that they need to deal with their cash flow problems first. Production for the electric cars in North Las Vegas was delayed since the company was unable to make payments on time. Despite Ji's efforts to raise enough money to produce the cars, there are many obstacles in his path. However, in his recent interview, he emphasized that Faraday Future is going to launch the FF91 on 2018.

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