STARTUP electric car venture Faraday Future on Tuesday previewed a technology-heavy concept race car it hopes to develop into a range of connected vehicles that can challenge luxury rivals like Tesla and Audi in the growing global market for non-gasoline cars.

    The California-based company, which has backing from Chinese billionaire Jia Yueting, has remained tight-lipped about its plans since its launch 18 months ago. Days ahead of this week’s Consumer Electronics Show in Las Vegas, it still had revealed no details about its debut vehicle, expected for 2017.

    Faraday is part of a group of Chinese-funded startups hoping to capitalize on disruption in the auto industry amid global regulatory demand for electric or hybrid vehicles, a growing trend of connectivity in cars and a sharp rise in interest in mobility alternatives, such as Uber.

    At the center of the new wave of China’s electric vehicle (EV) producers is Jia, founder of LeTV, or Leshi Internet Information & Technology Co. Jia has also funded another California EV startup, Atieva, and other EV efforts.

    His deep pockets have investors speculating about whether Faraday can take on publicly traded Tesla, although executives insist there is room in the expanding market for both companies.

    LeTV, whose many areas of focus include film production, smart TVs and consumer electronics, is an advantage for Faraday. Experts believe the technology for self-driving cars will be ready by 2020 and as it is adopted over the following years, there will be more opportunities for drivers to focus on a screen.

    Faraday sees a growing market for electric vehicles in the United States, despite low gasoline prices that have curbed consumer demand in the short term. Its ties with China open up that country’s fast-growing, second-largest EV market in which others, including Tesla Motors, have struggled.

    Faraday’s senior vice president of R&D and product development, Nick Sampson, said ahead of the unveiling that the company’s first electric vehicle for consumers would be a premium car built in a US$1 billion Nevada manufacturing plant. The plant will be built near Las Vegas beginning in the next few weeks. (SD-Agencies)