Faraday Future just got the green light on what could be its second factory
AP Photo/Eric Risberg
The Vallejo city council voted Tuesday night to enter an exclusive agreement with Faraday Future - also known as FF for short.
The agreement sets in motion the negotiations between FF and the city for the car company to acquire 157 acres of land on Mare Island, a former Naval shipyard.
FF wants to build a light industrial plant for manufacturing electric vehicles and a number of other facilities, including an experience center where customers can test drive and pick up their cars, the company said.
Kathleen Diohep, who manages Vallejo's economic development office, called the future site "a destination and a factory." The city came out of bankruptcy just five years ago and, as recently as 2014, had trouble meeting its pension obligations.
City officials say they hope a potential deal with FF will help revive its fortunes. "It's going to bring people to Vallejo," Diohep added. Among some of the terms of the agreement, FF will pay the city a $200,000 nonrefundable fee, and pay some of the city's negotiation-related costs.
The Southern California-based FF says it likes the Bay Area site because of its close proximity to Silicon Valley. The proposed location is about 60 miles south of Tesla's factory in Fremont.
FF has been moving aggressively since its public debut at the Consumer Electronics Show in Las Vegas this past January. It's moving forward on the construction of its first manufacturing facility in North Las Vegas.
Nick Sampson, the company's SVP of research, development and engineering said in April that FF also plans to have "full prototypes that represent [its] production cars" ready before the end of the year.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market