Faraday Future (FF), a new electric vehicle and future mobility startup company, announced that it will invest $1 billion in a US manufacturing facility as a phase one investment.
The company has been considering several locations including California, Georgia, Louisiana and Nevada, for its state-of-the-art facility. The exact site of FF’s first manufacturing facility will be announced in the coming weeks.
“We are very excited to make our $1 billion investment in U.S. manufacturing — and this is just phase one. Selecting the right location for the future FF manufacturing facility is critical to our overall goals. Producing our forward-looking and fully-connected electric vehicles not only requires the latest technology, but the right community partner,” said Nick Sampson, senior vice president of Faraday Future.
Faraday Future expects to bring its first vehicle to market in 2017. 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.
“With energy constraints, urban crowding, and the increasingly intrinsic relationship we have with technology, today’s cars simply do not meet today’s needs,” said Sampson. “Our range of 100% electric and intelligent vehicles will offer seamless connectivity to the outside world.”
