After getting death threats to raise funds and striking a deal with governance disputes among shareholders Faraday Future (Nasdaq: FFIE) is much expected to generate revenue and grow in value. In the manufacturing plant, the company has one model FF91 which is designed to compete with Tesla Model Y.
Since Faraday has chosen to build the EV with autonomous driving, long-range battery cells, and several advanced features the recent fundraising is not enough to move on. Right now EV makers are frankly failing in providing cheap but reliable cars to masses who actually can’t afford typical EVs that cost more than $30k with low specs.
If the company comes up with a budget model with a price tag of $10k its shares will definitely soar and revenue may explode due to advanced bookings.