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For those of you keeping track of the handful
of EV startups still standing,
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you may not have thought Faraday Future was one
of them.
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The California company established in 2014 made
news in February when it was revealed that the
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automaker had been served with an eviction
notice from its Gardena headquarters,
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one it narrowly avoided in the end after making
some payments and agreeing to some fresh terms.
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In May, Faraday warned investors it could
potentially file for bankruptcy and That it was
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at risk of being delisted by the NASDAQ.
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Fast forward to January and the automaker who
has delivered just 16 vehicles to date,
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put on a display at the Consumer Electronics
Show with an interesting pledge.
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Fairday Future is working on a line of minivans,
and the price tag might be the most shocking
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thing from this company yet.
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They say the vans will start at $20,000 or
$30,000 in an auto market where vehicle prices
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have been rising year over year for the last
several, it’s hard to imagine such a price
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point.
Faraday is reportedly describing its upcoming
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FX line of vans as being AI enhanced.
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A characterization backed up with few details.
According to Motor Authority,
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they did say that the first FX would be ready
in 2025 and that both electric and range
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extended powertrains will be offered.
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At CES, Faraday showed off a prototype of the
flagship of this line,
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a luxury minivan called the Super One.
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And while no price was clarified for the Super
One, consider that.
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Some of its previously sold luxury vehicles
like its FF 91 sold for prices north of
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$3000 and it seems they’d need to put out a lot
of those higher priced ones to continue selling
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the bargain basement FX line when you consider
the firm as as cash strapped as you can get.
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After $3 billion in investments over the life
of the company,
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as of September, Faraday Futures said it had
just $7 million on hand.
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I’m Anna Wells.
This is manufacturing now.