EXCLUSIVE: Faraday Future Wants A Tesla-Style Breakout—And Mariah Carey's Already Driving
Faraday Future Intelligent Electric Inc (FFAI) aims to emulate Tesla's success by transitioning from its luxury FF 91 model, already owned by celebrities like Mariah Carey, to a more affordable FX Super One SUV priced between $50K-$70K. With 10,000 reservations and plans for production by year-end, the company claims a leaner financial model with only $80 million in burn last year. Faraday is also diversifying its treasury with index funds and crypto assets, presenting both a unique opportunity and risk for investors.
Faraday Future Intelligent Electric Inc FFAI isn't shy about its ambitions—or its eclectic playbook. After more than a decade and $4 billion invested in tech, the California-based EV maker is pitching itself as Tesla 2.0, only with a celebrity sheen and a crypto kicker. President Jerry Wang told Benzinga in an exclusive interview that the company's strategy hinges on pivoting from its ultra-premium FF 91, already in the garages of stars like Mariah Carey and Chris Brown, to a mass-market crossover called the FX Super One.
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From Red Carpets To Driveways
The FF 91, priced between $100,000 and $300,000, is Faraday's halo car—a car as large as a Rolls-Royce, Android-powered, and boasting a 27-inch foldable rear screen for games and live events. But like Tesla's TSLA original Roadster, it's meant to set the tone, not deliver volume.
That's where the FX Super One comes in: a mass-market SUV aimed at the $50K–$70K range with 10,000 paid reservations already booked. Wang says production could begin by year-end, backed by partnerships with a large Asian OEM and a UAE manufacturing license. With a California facility capable of 30,000–40,000 units annually, Faraday insists it has the scale to deliver.
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Lean Burn, Crypto Cushion
Wang also argues Faraday's financial model is leaner than peers, claiming just $80 million in burn last year—less than a tenth of rivals. The company plans to leverage its prior $4 billion spend and avoid heavy new capital raises.
In an unconventional twist, Faraday has parked its treasury in a mix of index funds and crypto assets like Solana SOL/USD, generating income to cover automotive cash needs. For investors, that's a differentiator—but also a risk.
Faraday's Tesla-style roadmap—start premium, pivot mass-market—is familiar. The big question is execution. With celebrity endorsements, crypto cushioning, and a $4 billion head start, Faraday is trying to convince Wall Street it's more than another EV headline act.
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