New Electric Supercar in Town

For some time now, Elon Musk and his Tesla range have pretty much dominated the top-end performance bracket for electric vehicles.

However, at a major show in Las Vegas a few weeks back, Faraday Futures unveiled their own ultra-hi tech electric vehicle that can accelerate from 0-60mph in under 2.5 seconds.

What does this mean for competition at the high-performance end of electric vehicles?

Well, it’s difficult to say. We’ve blogged before on the role of 100% electric vehicles in the luxury limousine hire marketplace and are watching developments closely but there remain issues with this type of vehicle when compared to say hybrids.

The Faraday Futures’ vehicle is undoubtedly hugely impressive but it may have a long way to go to challenge Tesla and even further to catch the eye of major fleet purchasers. For example, when the car was unveiled to the press with a fanfare and major dignitaries fronting the presentation, it stubbornly refused to budge when instructed to ‘auto-park’. Cue many red faces!

If that’s not bad enough the venture, while brave and innovative, continues to be dogged by rumours of financial crises. Such rumours are not likely to be reassuring music to the ears of fleet purchasers who often place huge emphasis on the reliability and continuity of the  provider for reasons such as the availability of parts and servicing in the future etc.

Some pundits have said, perhaps a little unkindly, that Elon Musk won’t be losing much sleep over the new Faraday Futures car and they may be right. However, it’s perhaps not quite the point in strategic terms.

Before large all-electric limousines can be adopted by major fleet owners, a number of fundamental principles will need to be resolved including those relating to battery cost and range etc. Even Tesla haven’t yet bottomed those so they’re not just a problem for Faraday.