Faraday Future rivals Tesla with £700m EV factory plan
News
15 Apr 2016
Faraday Future has reportedly made progress with its plan to construct a $1billion (£700 million) electric vehicle (EV) factory.
The factory is expected to be located in northern Las Vegas, and will cover around three million square foot, across a 900-acre site. The move is also set to produce 4,500 jobs over the next 10 years, with cars to reach mass production by 2018.
Dag Reckhorn, vice president of Faraday Future (FF), said: “We are moving extremely quickly for a project of this size. Our aim is to complete a program that would normally take four years and do it in half the time, while still doing it right.”
The group claims the factory will be ‘connected, futuristic looking and environmentally conscious’. Its upcoming EVs are set to boast a wind, solar and geothermal energy, in addition to power from a local energy supplier to make the cars with minimal environmental damage.
