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EV Startup Plans $1 Billion Assembly Plant
Gardena, Calif.-based Faraday Future Inc.—a startup quietly launched 18 months ago by former Tesla Motors Inc. executives—intends to launch production of its first electric car in two years, The Wall Street Journal reports.
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Gardena, Calif.-based Faraday Future Inc.—a startup quietly launched 18 months ago by former Tesla Motors Inc. executives—says it intends to launch production of its first electric car in two years.
The secretive company, which has declined to identify its private investors, plans to open a $1 billion factory in California, Georgia, Louisiana or Nevada. Its first model will be a long-range luxury EV to compete with Tesla’s $76,000 Model S electric sedan.
Nick Sampson, Tesla’s former chief chassis engineer for the Model S, says the company has lined up several suppliers for the program and already is buying components for the car. The new EV will feature a high-capacity battery and a variety of unspecified connected- and autonomous-driving technologies.
Faraday currently has 400 employees worldwide and expects to add 100 more by year-end. The company's staff includes people from BMW, General Motors and Tesla.
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