Tesla rival Faraday to build $1B e-car plant in Vegas
The automaker startup had previously announced its intentions to produce a long-range premium electric car in 2017 that would compete with Tesla Motors’ S sedan. Since then it had been looking at several sites in four states – Nevada, Louisiana, Georgia, and California – for its new facility.
On Wednesday, Faraday notified Nevada officials of its decision to build the 2.5 million square foot plant in North Las Vegas via a letter from one of its investors, Chinese billionaire Jia Yueting, often referred to as the "Chinese Elon Musk." Finalization of the plans are contingent on the passage of special legislation authorizing major tax incentives for the company, similar to those granted to Tesla last year for its Gigafactory, located outside of Reno, NV.
Faraday has promised that the factory will create 4,500 jobs. Currently the company has about 500 employees, many of whom were recruited from automakers BMW and GM, as well as Tesla.
Thus far the company has not presented a concept of its planned vehicle, but reportedly plans to unveil a prototype at the Consumer Electronics Show in Las Vegas in January. The company has previously indicated that its first vehicle will have a larger battery pack than those on Tesla’s Model S and X, and will offer a variety of connected car features.
Faraday Future: www.faradayfuture.com
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