A report claims the luxury flagship will be priced nearly twice as high as a Tesla Model S or Model X.
Faraday Future's first production car will reportedly be priced well above Tesla's rival Model S and Model X.
Known internally as 'Project 91,' the large luxury sedan will sell for at least $150,000 and top out at $200,000, unnamed former executives recently told Reuters.
First shrouded in mystery and now skepticism, the China-backed startup is said to be aiming for a 2018 launch for the sedan. A second model, referred to as Project 81, will allegedly arrive as a crossover with a lower price tag that falls between the Model S ($68,000) and Model X ($74,000).
The strategy appears to follow in Tesla's footsteps, starting with expensive vehicles before moving downmarket, despite a shift in market dynamics since the Roadster arrived.
Tesla first targeted a six-figure price tag when batteries were much more expensive than today. The Model S and Model X subsequently moved down to lower price brackets as battery prices declined, paving the way for the Model 3 as 200+ miles of electric range becomes viable for a sub-$40,000 vehicle.
FF's future remains unclear as reports claim the company has fallen behind on payments to contractors that are building its $1 billion Nevada factory. Several key executives have also reportedly left in recent weeks.
No less than three EV startups are said to be backed by Jia Yueting, the Chinese billionaire behind Faraday Future. His best-known company, LeEco, has shown a futuristic autonomous concept and is said to be an investor in the third company, Lucid Motors, which reportedly aims to launch a $100,000 luxury sedan by 2018.