Carsten Breitfeld, who led the development of the BMW i8 plug-in hybrid, landed the CEO role at Faraday Future (FF) two months ago. At the LA Auto Show on November 20, Breitfeld gave an update on where things stand with his new company.
Breitfeld said that FF is facing two major obstacles. Firstly, people’s lack of trust in the company’s ability to execute its plans, and secondly, the problems surrounding the leadership under the company founder, Jia Yueting.
Breitfeld explained that the first issue has been resolved as a new leadership team was introduced shortly after Breitfeld replaced Jia as CEO. Jia Yueting applied for personal bankruptcy in October, separated his personal finances from corporate finances, and stepped down as CEO. Jia Yueting’s next job will be to focus on the connectivity and user experience of FF vehicles, aiming to make them the “third living space” for people.
Breitfeld tried to separate Faraday Future from competitors that heavily invested in advertising and noted that FF instead put their money towards developing their technology that he claims is superior but not known outside the company. Faraday Future’s investments have so far reached nearly $2 billion.
“To make the new mobility happen, you need two kinds of technology. You need car technology which has to be electric and the electric powertrain. The IP developed by Faraday is the most advanced and best electric powertrain in the whole industry,” Breitfeld said and boldly added, “I’m talking about more than just startups here. If you’re talking about power density, power range battery technology, and the most advanced technology available, you can compare Faraday cars to Audi, even BMW, Mercedes-Benz and Porsche.“