Faraday Future, an electric-car maker plans on investing a $1 billion in a new factory to manufacture an electric auto, according to Cnet.
Advertisement
Faraday Future, an 18-month old “mysterious” startup, is considering several locations for a manufacturing facility and will announce its decision in the coming weeks.
“We are very excited to make our $1 billion investment in USA manufacturing-and this is just phase one”. The company, which is owned by Chinese billionaire Jia Yueting, would like to release its first electric vehicle in 2017. To realize that goal, it first needs a manufacturing facility.
The company – one of a number of nascent automakers hoping to challenge Tesla Motors in the electric vehicle sector – is reportedly considering its native California, along with Nevada, Georgia and Louisiana, as the potential location.
“We will launch in 2017 with fully-electric vehicles that will offer smart and seamless connectivity to the outside world”, said FF. “Beyond traditional electric vehicles, we are also developing other aspects of the automotive and technology industries, including unique ownership models, in-vehicle content and autonomous driving”.
The camera-shy firm, which has secured private funding and amassed more than 400 employees since its founding less than two years ago, has enlisted three other Tesla directors and a BMW design head to round out its leadership team.
Advertisement
He added: “We are starting from a clean sheet of paper and, being 100% electric, we won’t fit into any of the current categories of vehicles”.
