The innovative engineering company for intelligent electric vehicles and mobile solutions plans to invest one billion dollars in the construction of an electric car factory in the USA.
Faraday Future is headquartered in Southern California and has revealed very little about its plans, as well as about financial support or resources. They aim to challenge Tesla’s leading position in the electric vehicle market, and their team includes around 400 former engineers and executives from that American company and Germany’s BMW. They announce electric vehicles “that will guarantee smart and seamless connectivity with the outside world.” According to data on their website, a prototype is expected to be unveiled in January next year at the Consumer Electronics Show in Las Vegas.
The company is named after the British chemist and physicist Michael Faraday, who discovered the principles of electromagnetic induction, and according to research company CB Insights, among their investors is Chinese entrepreneur Jia Yueting. On Thursday, they announced on their website that they will invest one billion dollars in building a factory near Las Vegas, which will be “something more than just an ordinary facility” and will cover an area of 280,000 square meters. It is envisioned as a testing ground for “passionate creators and diligent visionaries where new concepts will be refined and realized,” the company claims.
The facility will create 4,500 jobs in the region.
