Friday, November 6, 2015

Electric Dreams: EV Start-up Plans to Spend $1 Billion on U.S. Factory

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In auto-industry terms, 2017 is not very far away. If GM, Toyota, or VW Group announced today that it would debut a brand-new car from scratch in less than two years—and that it hadn’t even established the production facility to build it—that would sound a little far-fetched. Now imagine the company making that announcement is a start-up that nobody’s heard of before, one that has never produced a vehicle. And the car it’s promising is all-electric, with performance targets that outgun Tesla’s best.

That’s pretty much all we know about Faraday Future, the mysterious electric-car start-up that announced plans to invest $1 billion in a U.S. manufacturing plant. That plant, Faraday Future promises, will start churning out production cars in 2017, despite the fact that the company hasn’t even chosen a location for the facility. “The company has been considering several locations including California, Georgia, Louisiana and Nevada, for its state-of-the-art facility,” Faraday Future’s press release reads. “The exact site of FF’s first manufacturing facility will be announced in the coming weeks.​”

Faraday Future says its vehicles ‘will offer seamless connectivity to the outside world.’

“​In addition to producing vehicles, the company plans to explore other aspects of the automotive and technology industries, including unique ownership and usage models, in-vehicle content and autonomous driving​,” Faraday Future promises, alluding to plans for a full range of electric vehicles that “​will offer seamless connectivity to the outside world.”​

Faraday Future may be largely unheard of, but its employees aren’t entirely inexperienced: As Chris Ziegler at The Verge reported over the summer, the electric-car start-up has poached a whole bunch of experts from Tesla. And while the newly launched car company won’t publicly name its CEO, Electrek did some document digging to find out that the start-up has major financial connections to Chinese technology giant LeTV.





Can Faraday Future deliver a revolutionary electric car by 2017? Many things need to happen between now and then. And choosing a factory location is just the beginning. They’d better get crackin’.

This story originally appeared on roadandtrack.com.

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