Faraday Future Intelligent Electric Inc (NASDAQ:FFAI) isn't shy about its ambitions—or its eclectic playbook. After more than a decade and $4 billion invested in tech, the California-based EV maker is pitching itself as Tesla 2.0, only with a celebrity sheen and a crypto kicker. President Jerry Wang told Benzinga in an exclusive interview that the company's strategy hinges on pivoting from its ultra-premium FF 91, already in the garages of stars like Mariah Carey and Chris Brown, to a mass-market crossover called the FX Super One.
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From Red Carpets To Driveways
The FF 91, priced between $100,000 and $300,000, is Faraday's halo car—a car as large as a Rolls-Royce, Android-powered, and boasting a 27-inch foldable rear screen for games and live events. But like Tesla's (NASDAQ:TSLA) original Roadster, it's meant to set the tone, not deliver volume.
That's where the FX Super One comes in: a mass-market SUV aimed at the $50K–$70K range with 10,000 paid reservations already booked. Wang says production could begin by year-end, backed by partnerships with a large Asian OEM and a UAE manufacturing license. With a California facility capable of 30,000–40,000 units annually, Faraday insists it has the scale to deliver.
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Lean Burn, Crypto Cushion
Wang also argues Faraday's financial model is leaner than peers, claiming just $80 million in burn last year—less than a tenth of rivals. The company plans to leverage its prior $4 billion spend and avoid heavy new capital raises.
In an unconventional twist, Faraday has parked its treasury in a mix of index funds and crypto assets like Solana (CRYPTO: SOL), generating income to cover automotive cash needs. For investors, that's a differentiator—but also a risk.
Faraday's Tesla-style roadmap—start premium, pivot mass-market—is familiar. The big question is execution. With celebrity endorsements, crypto cushioning, and a $4 billion head start, Faraday is trying to convince Wall Street it's more than another EV headline act.
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