Faraday Future picked an unusual spot for its $1 billion factory
AP Photo/Nick Ut
This Friday, Nov. 6, 2015 photo shows the Faraday Future building in Gardena, Calif. Faraday Future has been hunting for a place to build what it says will be a $1 billion manufacturing plant for a new line of cars. Four states are contenders and the company says to expect an announcement within weeks. Like Tesla, Faraday's car will be all-electric, and debut at the high end.
The company will announce a partnership with Nevada to built its factory in a Northern Las Vegas suburb.
That's a move that will essentially put Faraday Future in the backyard of Tesla's Reno-based Gigafactory.
The $1 billion plant is supposed to lend credence to Faraday Future's ambitious plan to bring an electric vehicle to market by 2017, but that remains an ambitious goal, considering the company has yet to fully reveal its concept.
The factory is also set to go up in a location that's far away from the automotive supply chain. Its nearest neighbors Northern Las Vegas are a handful of pot farms, according to a Bloomberg report.
Faraday Future is backed by Chinese billionaire Jia Yueting, an investor who runs LeTV's holding company, and who styles himself after Apple's late Steve Jobs, The Associated Press reports.
Nevada and Faraday Future officials are set to announce their factory plans at a news conference Thursday.
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