SAN FRANCISCO — As Faraday Future looks to showcase its first set of production cars by yearend, the company is also exploring financing options to make its vehicles more accessible, Head of Financial Services Matt Traylen told attendees at Auto Finance Innovation 2018 last week.
“When we start looking at affordability, I tend to say, ‘It’s not about making vehicles more affordable — that’s perhaps the wrong way to look at it — but making them more accessible,'” he said.
At the conference, Traylen debuted a short teaser video with shots of a fleet of FF91s — Faraday’s flagship vehicle, — circling and riding across a short laneway into an empty parking lot at its California headquarters, flanked in different formations. (Check out the demo video below.)
While the company has not finalized a sale or financing strategy, and it’s not known what the exact pricing or the number of production cars to be produced is, the financing strategy will likely evolve over time, Traylen said.
“What we have today might not necessarily be what we have on day 100 or day 500,” he told attendees. “At the very least, we should finance the vehicle on day one.” Faraday wants “to have aspirations to look at the possibilities for the future.”
In theory, this future could incorporate models similar to subscriptions vehicles, hotel chain rewards programs, or airline miles, Traylen said. Faraday is interested in incorporating multi-financing channels, but right now — or at least for day one — the startup manufacturer will not have as many varied ideas.