Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 70 , 08 January 2024
Open
Access | Article
Redefining Luxury Electric Cars: A Comprehensive Analysis of Faraday Future Inc.
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Abstract
The global automotive industry is experiencing a seismic shift towards sustainability, with electric vehicles (EVs) leading the way. Among the new entrants in this arena, Faraday Future Inc. (FF) stands out with its vision to redefine luxury electric cars. This article presents a comprehensive analysis of FF's approach, comparing it to established luxury car brands and examining the novel luxury values it introduces. FF has strategically positioned itself to cater to the growing demand for eco-friendly, technologically advanced, and luxurious EVs. The result is a holistic reimagining of the luxury EV. Key competitive advantages for FF include its team of industry experts, advanced EV technology, and savvy marketing. Furthermore, founder YT Jia's potential influence, particularly in the Chinese market, adds a powerful dimension to the company's prospects. Nonetheless, FF faces immediate financial challenges, evident in its lack of revenue juxtaposed with high operational expenses. To realize its ambitions, FF must secure substantial funding, a task complicated by YT Jia's unresolved credit issues. Despite these hurdles, FF's diverse product portfolio offers immense potential. However, the risk of delayed product launches looms in a fast-paced industry. In summary, this article explores FF's mission to redefine luxury electric cars, emphasizing its unique value propositions, competitive strengths, and financial obstacles. FF's innovative approach positions it as a promising contender in the EV market, poised to make a lasting impact on the luxury EV segment while advancing the global shift towards sustainable transportation solutions.
Keywords
EV Market, Faraday Future, Luxury value
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-271-8
- ISBN (Online)
- 978-1-83558-272-5
- Published Date
- 08 January 2024
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/70/20231652
- Copyright
- 08 January 2024
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited