Jia Yueting EV startups map ambitious plans

Three electric-car start-ups financed by Chinese billionaire Jia Yueting will show vehicles at the giant CES 2017 event in Las Vegas next month, and 2 former executives informed Reuters that a person of the companies plans to present a dozen models through 2026.

The 3 companies still have not revealed how they prepare to fund their efforts to challenge Tesla Motors in the high-end electric car market.

One of the 3, Faraday Future, has stated it will unveil a prototype of its first production automobile however did not provide details. The two former executives, who refused to speak on the record, explained the car to Reuters and gave other details of the business’s enthusiastic 10-year strategy.

Faraday has informed its first automobile is slated for production in early 2018. The previous executives said the company utilizes the internal designation Project 91 for the automobile. They described it as a big, high-end flagship sedan developed to sell for $150,000-$200,000– more than the most costly Tesla.

They stated a second model, designated Project 81 and due about a year later, is a mid-size crossover slotted in size and cost between the Tesla Model S and Model X. Faraday plans a 3rd, cheaper model to debut by 2020.

A Faraday spokesperson refused to comment on those information.

Faraday began constructing a $1 billion assembly plant outside Las Vegas, but stopped work in November. As per a Nevada state official, the maker missed numerous payments to the building contractor.