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Is It Enough? Faraday Future Racks Up 64,000 Reservations

Is It Enough? Faraday Future Racks Up 64,000 Reservations

Start-up automaker Faraday Future says it’s already secured over 64,000 reservations for its first new product just in the 36-hours proceeding its CES reveal. While the number is unquestionably surprising for a company know one in the public really knows and for a product that doesn’t really exist yet, there’s still some unknowns here.

Faraday began accepting reservations for the FF 91 SUV just after the reveal earlier this week. Prospective buyers have two options when it comes to reservations, a paid option and a free one. Really serious buyers can opt for a $5,000 priority option that slots them in the front of the line if/when the FF 91 hits production. Everyone else can sign up as interested, but have no financial skin in the game.

So with the 64,000 figure, we really don’t know how many people actually put money on the table versus how many are just being curious and signed up to stay updated with the car’s progress.

The financial breakdown of that figure is likely quite critical for Faraday’s own future. Reports have suggested that the company was struggling to pay rent and bills in recent months. Some sources said the company could be insolvent by February 2017 if the CES reveal wasn’t successful.

Faraday’FF 91 is a total electric SUV that will do zero to 60 mph in about 2.39 seconds and go 378 miles on a charge. There’s no word on what the price tag for this SUV will be when it goes into production in 2018. Step one is probably making sure it actually does go into production.





 

About Nick Saporito

AutoVerdict Senior Editor Nick Saporito began writing about cars at age 13. Nick ran a couple of automotive enthusiast sites for several years, before taking some time off to focus on his career and education. By day he's a marketing executive in the telecom world and by night he hangs out here at AV. You'll find him focusing on tech, design and the industry's future.
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  1. Andrew_L
    arutherford
    How do you get your money back if the company uses that money?


    heh you don't
    arutherford
    How do you get your money back if the company uses that money?
    nsaporito
    mrickan
    Without knowing the breakdown, it's possible that many of these reservations are just expressions of interest and mean nothing.

    After watching that excruciating reveal, I can't imagine many people committing $5,000 to reserve a vehicle that has no price and no delivery date from a company that's having trouble keeping the lights on.


    I agree. I don't see this folly lasting much longer, but perhaps I'm wrong.
    mrickan
    Without knowing the breakdown, it's possible that many of these reservations are just expressions of interest and mean nothing.

    After watching that excruciating reveal, I can't imagine many people committing $5,000 to reserve a vehicle that has no price and no delivery date from a company that's having trouble keeping the lights on.
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