Well, I have a perspective on that, but please don't assume I'm correct.
Chinese entrepreneurs have a habit of 'gambling' on very risky bets that might pay off very big. Around the world that is most obviously seem with fairly massive investments in startup extractive minerals, often in high-risk-political climate. It also is seen in distribution and manufacturing wherever, however they can get a foothold. They also invest in unlikely ventures simply to learn, often by finding technical talent. Comac and their newly flying C919 just is a good example, given that to all appearances they managed to reverse-engineer a B717 (nee MD-95).
Lucid, unless I'm wrong was a long shot bet by Jia Yueting, that probably will give lots of education but will fail financially. Faraday is similar, including Jia Yueting, but also has some steadier hands in Mitsui. That too probably will be better with technology transfer than with product launch. I'll speculate that the net of these two will be to spawn a third, successful onslaught in a few years time. We may be confident there have been lots of lessons learned.even though we're not tooo likely to go driving away in either one of them anytime soon. That could change were somebody like BYD to decide to join forces. if that happens it'll be another story.