FF's race car concept is built on a new modular platform (Photo: FF)

LAS VEGAS -- Automotive newcomer Faraday Future (FF) unveiled an electric sports car concept and said it would be the basis for a production car scheduled for launch in 2018.

The FFZERO1 is an electric 1,000 hp race car that is built on a "variable platform architecture" that FF has developed to speed up time to market, enhance design flexibility and keep costs under control.

"We've optimized the modular platform,"  Nick Sampson, head of R&D and product development at FF, said in a press briefing.

Sampson said FF plans to use a wide range of the newest technologies to build a car that can compete in a market where connectivity is increasingly important. "We focus on bringing connected mobility to as many people around the world as we can," he said.

FF has ambitions to revolutionize the auto industry, much like Apple transformed the mobile-phone industry with the launch of the iPhone nine years ago. FF plans to make drive-by-wire technology and augmented reality features of its future cars.

It also wants to cooperate with other automakers and companies in other industries to find new business models to market mobility services.

FF announced late last year that it plans to build a plant near Las Vegas to manufacture its cars.