On February 10, foreign media electronics reported that Faraday Future said it would cooperate with South Korean automaker Myoung Shin to jointly produce the FF81, a luxury electric vehicle for the mass market, which will start production in South Korea in 2024.
Faraday Future, like Weilai and Tesla, takes the lead in high-end luxury cars and then gradually enters the mass market, which can effectively establish a luxurious brand image, and the vehicle can have a greater premium space. The FF91 is a luxury SUV of millions, and the price of the FF81 is expected to be hundreds of thousands.
Today, WEILAI also has to enter the more popular 100,000-strong family car market, which can basically cover the largest number of people. The volume of users has risen, and manufacturers can sell more assisted driving software. In addition, the manufacturer's App can build its own auto parts store, and there can be more Internet promotion revenue.
Weilai's power exchange and battery rental services can also form a scale effect, and the demand for power station replacement will be greatly increased. Faraday may also follow a similar route in the future, and having more users will greatly help the company's revenue increase.
Faraday Future adopts an asset-light model, with factories in the United States leased, and the cooperation with South Korea's Myoung Shin will help it quickly increase its mass production level. However, in this way, the production capacity is in the hands of the foundry. At this point in time in 2024, there will be more and more new power brands entering the game, such as Xiaomi Automobile will achieve mass production in 2024. Although the positioning of Xiaomi cars will not necessarily compete with Faraday's future, there will certainly be more players entering the high-end luxury electric vehicle market. If Faraday's future supply is not large, it may be robbed of customers by competitors.
In addition, due to the positioning of the FF81, the output of the car will not be particularly large. Therefore, Faraday Future will not have too high a voice when negotiating with the foundry, and the foundry will give priority to satisfying large customers, or may not necessarily give priority to the production of FF81.
With an expected delivery date for the FF91 in the third quarter of this year, short-selling company J Capital has released a 27-page report stating that Faraday will not produce a single car in the future. Before FF81, Faraday Future needs to deliver FF91 this year as promised, so as to boost investor confidence.