Mysterious electric vehicle startup Faraday Future this week announced plans to build a billion-dollar factory in order to begin producing cars in 2017.
Now headquartered in Gardena, California, its website says ‘at Faraday Future, we believe the automotive experience should integrate seamlessly with the rest of your life. Its game plan is similar to Tesla’s: offering a single high-end model first, followed by more affordable products. That’s just a phase-one investment, as the company is now negotiating to find a proper location, with choices including California, Georgia, Louisiana, and Nevada.
Faraday Future senior vice president Nick Sampson said: “Selecting the right location for the future FF manufacturing facility is critical to our overall goals”.
The startup hasn’t divulged where its funding is coming from, but Bloomberg noted that Chinese billionaire Jia Yueting is backing the company, though it doesn’t state whether a little or all of the money comes from the online video magnate.
Apple Faraday employees so many Tesla alumni. Further details on the company’s leaders have also been revealed.
Despite the fact the auto company has close to 500 employees, no one really knows anything about the vehicle they’re making aside from the fact it’s completely electric and will be packed with connected-car features.
In addition to selling cars, Faraday is looking at other business models, such as subscription or shared ownership services.
With energy constraints, urban crowding, and the increasingly intrinsic relationship we have with technology, today’s cars simply do not meet today’s needs. We always jokingly call Apple the “Tesla Graveyard”. “I’m not kidding”, Musk told German newspaper Handelsblatt.
Meanwhile, Audi said it will enter the luxury electric vehicle market when it launches the Audi e-tron quattro sport utility in 2018.