According to the US "Automotive News" December 14 news, Jia Yueting invested in three electric car startups will participate in the International Consumer Electronics Show (CES) held in Las Vegas in January 2017, and released its latest model Prototype car.
According to people familiar with the matter, Faraday is one of the companies that will announce a 10-year plan to launch 12 new models by 2026. On December 14, another California-based Lucid Motors company announced a luxury prototype sedan, and plans to put the car into production in Arizona in late 2018. Lucid Motors, formerly known as ATIeva, one of the battery technology giants, also plans to launch two luxury crossovers between 2020 and 2021.
The third is LeTV. Jia Yueting said in November that the company is facing the problem of shortage of funds and excessive expansion. A few weeks later, LeEco's parent company, LeEco Holdings, said LeTV's $600 million investment (about RMB 4.1 billion) will help it weather the storm.
Jia Yueting plans to build separate factories for the above three companies, and is expected to invest at least 3.5 billion US dollars (about RMB 21.66 billion) in each company. Jia Yueting’s strategic plan shows that design and engineering costs will increase by at least $1 billion. RMB 6.9 billion).
Faraday said in the future that the first prototype (internal code Project 91) will be launched at CES, but declined to give details. Former executives said the model is positioned as a large luxury flagship sedan, priced between $150,000 and $200,000 (approximately RMB 1.04 million to 1.38 million), even higher than Tesla's highest-priced model. Now accepting the reservation, it will be put into production in early 2018.
The second model of Faraday's future (internal code "Project 81") will be launched a year later. This is a medium-sized crossover with a price and body size between the Tesla Model S and the Model X. Faraday plans to launch the third lower-priced model in 2020.
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