Faraday Future made a bold claim Tuesday when the California-based automotive startup unveiled its 1,050-horsepower FF91, which they say will be the world’s fastest electric car. The production model was featured in a video at CES in Las Vegas, where it can be seen besting a Tesla Model S. Since its inception in 2014, Faraday Future has chased Tesla’s shadow—consistently promising to release a better electric car with a better battery—and the company has even started building a $1 billion factory near Las Vegas. While Faraday Future is already taking pre-orders for the supposedly lightning fast FF91 model, the company can’t pay for production without hefty support from investors, which have yet to be found. Does Faraday really have a future?

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While Faraday Future is an American company, it is backed in large part by Chinese billionaire Jia Yueting. Since 2014, the company has been teasing the automotive world with promises of bigger, better, faster electric cars, and the unveiling of the FF91, which Faraday calls “the first of the species”, marks the first time we’ve seen an actual car to back up the wild ambition, as the previous teasers have all been mere concepts. Faraday Future’s FF91 can reportedly accelerate from zero to 60 miles per hour in 2.39 seconds, shaving precious time off the record 2.5 seconds for a Tesla Model S P100D with “Ludicrous Mode” engaged.

Related: Faraday Future breaks ground on $1B electric car factory outside Las Vegas

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In addition to its speed, the FF91 (that’s FF “nine-one,” the company clarifies in its press release) also boasts a longer range than any other commercially available electric car, with an estimated 378 miles of travel on a single charge of its 130 kWh battery. Faraday Future also claims to have achieved the fastest charging time with a home battery charger capable of juicing from 50 percent to full charge in under 4.5 hours.

Faraday says deliveries of its super fast FF91 will begin in 2018, but there are a lot of “ifs” involved. The company is still working hard to raise capital for production of the FF91 (which is strikingly similar to where Faraday was a year ago at this time, with a different concept car) but they are already taking reservations toward purchases (much like Tesla) at $5,000 (which is refundable). There’s no word on what the FF91’s final price tag will look like, and Faraday Future’s reputation for big ideas without the actual technology to back them up may prevent the speedy electric car from ever hitting the road.

Via Bloomberg

Images via Faraday Future