Is Faraday Future a Threat to Tesla?
If Back to the Future is a movie released this year instead of a movie from the 1980s, what can replace the hoverboard today? Of course not literally! After all, the hoverboard is unique! But what are the innovations that are sparking excitement and suspicion today? Something that once seemed so far away but so close? The first big thing I think of is electric cars! Next, I found myself speculating that I might play the role of “hoverboard” today.
What is Faraday Future?
Faraday Future is a fairly new disruptor in the traditional car manufacturer market. Its goal is to create high-quality electric cars with stylish designs and the latest fashion technologies. It is equivalent to my hoverboard, not because it is so spectacular and novel, but because it adds a touch of excitement to what we have already seen in terms of gadgets and design. Skateboarding is new, but there was no hovering at the time, right? For some people, seeing another participant in the market seems to be a fairly late move, or the last hope of catching up with the wave of electric cars. Brave but hopeless. So many automakers have talked about electric vehicles, that the concept is not particularly prominent except for the smartphone base on the steering wheel (which may not even pass safety regulations).
Is it possible for Faraday Future to catch up with Tesla?
In this regard, I would ask: are they even competing? Faraday Future claims to be a growing company whose goal is to develop high-quality, highly connected cars. If you have been paying attention to Elon Musk and his master plan, you will know that Tesla Motors is already on the road beyond the competitive stage of the luxury sports car market. At the 2016 International Consumer Electronics Show, Nick Sampson, then senior vice president of Faraday, claimed that the first model of FFZERO1 will be put into production in 2018. However, in 2018, Tesla has already released Model X, with 57,327 sales as of September 2018. American market. In 2019, it also announced the release of Model Y. Although Fraday went bankrupt in 2017, it “re-launched its first mass-produced electric car FF 91” only in November 2019. Therefore, if we regard FF as a competitor of Tesla, it started late and has a small product portfolio. It is currently easily surpassed by Tesla’s rapid development.
Is it truthful to consumers producing both sports electric vehicles and pick-up trucks?
Will people who drive pickups want functions such as fully automatic and autonomous driving? Or will they stick to the masculinity that drives women crazy when they see men in vintage pickup trucks? A user-centric company should consider not only the attitude and habits of consumers in the design and interface of the vehicle but also the form and function of the vehicle. The image that Faraday Future created for its brand complements well with drivers who like high-tech and play gadgets. If you want to devote yourself to electric vehicles, will the conspicuous design be the reason you choose the right brand? Maybe, if you need another status symbol in your life. On the other hand, Tesla is a brand with a mission. A brand that aims to make the world a better place. After all, the hoverboard is no longer a thing today for a reason, right?
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