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Tesla Motors Inc (TSLA) Has Nothing to Fear From Faraday Future

Once billed as the Tesla-killer, a working FF 91 made its debut at CES 2017

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One of the big reveals at this year’s Consumer Electronics Show happened yesterday, before the show’s official Jan. 5 open. And with Tesla Motors Inc (NASDAQ:TSLA) stock down 1.5% today, are Tesla’s shareholders getting the heebie-jeebies?

Tesla Motors Inc (TSLA) Has Nothing to Fear From Faraday Future
Source: Faraday Future

Faraday Future, the mysterious electric car startup that showed off a non-functional concept car at last year’s show was back.

This time the company had the Faraday Future FF 91, a working, ultra-fast electric car that demonstrated its autonomous parking capability, while boasting a slew of class-leading features.

Faraday Future FF 91

At CES 2017, Faraday Future showed off its new FF 91 electric vehicle. One prototype was shown parking itself in downtown Las Vegas via a live video feed. A second unit onstage performed a similar stunt.

The vehicle packs an incredible 1,050 horsepower in its electric motors with high-density battery packs good for a class-leading 378-mile range. Bluetooth integration, a smartphone app and facial recognition cameras are key to everything from opening the doors to learning driver preferences.

The Faraday Future FF 91 is equipped with more than 30 advanced sensors for autonomous driving, including cameras, radar, ultrasonic sensors and a retractable Lidar unit.

Taking Aim at Tesla

The comparisons to Tesla and its current line-up of premium electric vehicles showed that Faraday Future is hoping to steal some thunder — and some customers.

Faraday Future claims its new car has the densest battery pack available, with 130 kilowatt-hours of energy. Tesla meanwhile, just introduced a 100 kilowatt-hour battery pack in August, an optional upgrade to the 90 kilowatt-hour pack offered with the Model S starting in 2015. The higher density battery pack means the Faraday Future FF 91 gets superior range (378 miles compared to 315 miles for the Tesla) and faster speed. Faraday is also promising wireless charging is coming at some point.

The Faraday Future FF 91 was pitted directly against a Tesla Model S and Tesla Model X in a race (which concluded offstage and wasn’t independently verified). The Faraday Future FF 91 won, boasting a supposed new production car speed record of 0 to 60 mph, at 2.39 seconds.

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Article printed from InvestorPlace Media, http://investorplace.com/2017/01/tesla-motors-inc-tsla-stock-faraday-future-ff-91/.

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