Tesla Competitor Startup Claims to Invest $1 Billion in New EV Factory

Faraday Future claims they will invest $1 billion into a new EV plant 1 photo
Photo: Faraday Future
A Faraday cage blocks electric fields and radio frequency interference from getting inside due to its conductive material or a mesh of such material. It’s named after the English scientist who invented it in 1836. Faraday is also the name of a startup which claims that it’ll invest one billion dollars in a new electric vehicle factory.
Faraday Future - a new electric car and future mobility startup company, currently based in Gardena, California - announced yesterday that it is planning to invest $1 billion in a U.S. manufacturing plant. That’s just a phase-one investment, as the company is currently negotiating to find a proper location, with choices including California, Georgia, Louisiana, and Nevada.

The announcement is quite surprising judging by the resources circulated, and the industry views the plan with skepticism so far. After all, Faraday Future has not mentioned vital details such as who the investors that would put their money on the table are and what key aspect sets this company apart from the already rather successful Tesla Motors. However, the startup claims it’s a well-funded California-based mobility company comprised of a global team of more than 400 automotive and technology experts.

And it’s not just cars they will manufacture, allegedly, as FF also says it plans to explore other aspects of the automotive and technology industries, including unique ownership and usage models, in-vehicle content, and autonomous driving.

“With energy constraints, urban crowding, and the increasingly intrinsic relationship we have with technology, today’s cars simply do not meet today’s needs,” said Nick Sampson, senior vice president of Faraday Future. “Our range of 100% electric and intelligent vehicles will offer seamless connectivity to the outside world.”

The exact site of FF’s first manufacturing facility will be announced in the coming weeks, which means that’s probably when more details will appear.


Our world class creative team made up of designers from BMW, Audi, Ferrari, and Lamborghini - led by Richard Kim.

A photo posted by Faraday Future (@faradayfuture) on Jul 28, 2015 at 3:02pm PDT

If you liked the article, please follow us:  Google News icon Google News Youtube Instagram
Press Release

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories