Apple (TK Kurikawa/Bigstock.com)

A new Californian electric car start-up firm has been formed with the aim of taking on Tesla directly, reports Autocar.

Little is known about the mysterious company – called Faraday Future – except it has already attracted $1bn of investment and it will unveil a concept vehicle at the 2016 Consumer Electronics Show in Las Vegas in January.

The firm, based in Los Angeles, will have a rival to Tesla's Model S by 2017, according to reports.

The company may also be working on an autonomous vehicle.

In the meantime, its electric vehicle will apparently boast 15 per cent more battery life than the 85kWh unit fitted to the Tesla Model S. In theory such a car would have a range in excess of 300 miles.

Faraday Future also aims to set-up a subscription service, which would give customers access to a range of vehicles and, the firm argues, revolutionise car ownership.

The geographical location of the company, its interest in driverless technologies, as well as the fact it has poached key staff from Tesla and BMW, have fuelled rumours that Faraday Future is a front for Apple.

Apple has been working on an autonomous car to rival that of Google.

However, while the Apple rumours may be the more sensational, a more down-to-earth possibility has emerged: According to Fortune Faraday Future is backed by Chinese investors – principally a firm called LeTV, known as the "Netflix of China". A director of a LeTV affiliate is also apparently Faraday Future's agent. In addition, LeTV bought Faraday's address in 2014.

To many, these facts are more compelling than any suggestion of Apple involvement.