Faraday Future Finally Buys a Factory for Its Electric Cars

Faraday Future Finally Buys a Factory for Its Electric Cars

Faraday Future Finally Buys a Factory for Its Electric Cars

Electric auto maker Faraday Future says it has made a decision to build vehicles at a factory in California.

In the meantime, Faraday Future executives have slashed some of the company's ambitious earlier goals, and plan to move its production facility from Nevada to California.

"Now, Faraday has admitted its Nevada site was a mistake and secured a facility that will be more cost-effective and allow better speed to market". Stefan Krause, Faraday Future's Chief Operating Officer, told the Times that having an assembly line will attract additional investors, as it "makes it more real" for them. The company will lease an old factory in Hanford, California to develop and manufacture its electric vehicles.

For now, Faraday Future will continue to prepare the new factory for production as the current tenants prepare to leave this November.

Faraday says the Hanford site will employ up to 1,300 people spread over three shifts.

CHECK OUT: Faraday Future FF 91 electric auto to cost nearly $300,000?

At one time, a marijuana-growing company was eying the Hanford facility for a growing operation. The FF91 is an electric autonomous vehicle aimed to take on the likes of Tesla Model X. It also did an impressive run at the 2017 Pikes Peaks Hill Climb. The site is roughly 200 miles north of Faraday Future's Los Angeles headquarters and if all goes to plan will be churning out cars at an initial rate of 10,000 per year. The building has been mostly empty since.

Faraday Future remains hopeful of starting deliveries of the FF 91 in late 2018.

"As we begin this next phase in our company's history, our efforts to build out strong corporate leadership will bring a new focus to Faraday Future and deliver on our commitments to employees, investors, suppliers, and future users, who have shown exceptional patience and resilience through the company's hard times".

As for the luxury sedan FF-91, the company's hopeful first production model, the company started taking fully-refundable $5,000 reservations for the vehicle in January of this year.

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