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Tesla Motors Inc (TSLA) Mysterious Rival to Throw Back Veil in January

tesla motors rival faraday-future-electric-car

Tesla Motors Inc will have many rivals in the coming years, and of those, one of the most mysterious rival is Los Angeles-based Faraday Future. This mysterious car maker will reveal its first concept car at the CES in January, says a report from Autocar.

tesla motors rival faraday-future-electric-car

Faradays’s Tesla rival soon

Faraday Future is developing an electronic autonomous car to compete with Tesla, and is expected to unveil it in 2017. The previous rendering, suggested that the shape of the car is very close to that of a high-riding SUV akin to BMW’s X6.

The model from Faraday is unnamed for now, but it is believed to run on a battery with a capacity higher than the 85kW-hr used in Tesla’s Model S. This indicates a possibility of a range of at least 300 miles.

In its official mission, the firm notes: “We will launch with fully electric vehicles that will offer smart and seamless connectivity to the outside world.” The firm will develop products beyond “traditional electric vehicles,” inclusive of unique ownership models, in-vehicle content and autonomous driving.

Faraday Future is quite open to the fact that it poached talent from the rivals. Nick Sampson, Dag Reckhorn, Alan Cherry and Tom Wessner are a part of its leadership team, and they worked with Tesla Motors Inc previously at senior positions. The firm also poached Richard Kim from BMW’s i brand. Kim designed both the BMW i3 and i8.

Tesla Motors CEO vs. Amazon CEO

Along with Tesla Motors, Elon Musk is also facing rising competition in his other venture i.e. SpaceX. Last week, Musk congratulated Amazon CEO Jeff Bezos for a successful launch, and criticised him as well.

Last week, Bezos’s space exploration firm achieved success in bringing back a rocket ship safely to Earth in reusable condition. As per Engadget, Musk’s SpaceX is still to achieve the historic landing of the rocket.

Sharing the success, Bezos tweeted, “The rarest of beasts – a used rocket. Controlled landing not easy, but done right, can look easy. Check out video: http://bit.ly/1OpyW5N.” Replying to this, Musk said, “Not quite “rarest”. SpaceX Grasshopper rocket did 6 suborbital flights 3 years ago & is still around.”

On Friday, Tesla Motors Inc shares closed up 0.86% at $231.61. Year to date, the stock is up over 4% while in the last one-month, it is up over 9%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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