Tesla chose a much more cautious approach:
- They first made the Roadster based on a Lotus Elise chassis, before they started on the Model S.
- When they first launched the Model S, the focus was on the drive line. It didn't even have parking sensors or folding side view mirrors, never mind ACC or self driving technology.
- They got Fremont for almost nothing.
- They supported the early years in part with supply deals made with Toyota (RAV4) and Daimler (Smart, B-class).
- They could sell the early CARB credits for 5000 USD. Now the market is much more saturated, so they're lucky to get 2500 USD. They also got up to 7 credits per car at one point, that's now reduced to 4 credits per car.
Faraday Future decided to go straight for a top end car designed from scratch and produced in large-ish numbers. They decided to stuff the car full of every feature they could think of, and build a new billion dollar factory. And never mind actual revenue, they decided to self-fund absolutely everything. I don't think Jia is rich enough to pull it off.