Start-up Electric Carmaker Pledges $1 Billion to U.S. Operations

Nov 10, 2015

Faraday Future, a new electric vehicle and future mobility start-up company will invest $1 billion in a U.S. manufacturing facility as a phase one investment. The company has been considering locations for its facility in California, Georgia, Louisiana and Nevada.

“Selecting the right location for the future (Faraday Future) 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.

The Faraday Future creative team is made up of designers from BMW, Audi, Ferrari, and Lamborghini, and led by Richard Kim, according to the company.

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, according to the company.

“With energy constraints, urban crowding, and the increasingly intrinsic relationship we have with technology, today’s cars simply do not meet today’s needs,” Sampson said. “Our range of 100-percent electric and intelligent vehicles will offer seamless connectivity to the outside world.”

Faraday Future describes itself as a “well funded California-based mobility company comprised of a global team of more than 400 automotive and technology experts who believe the automotive experience should integrate seamlessly with the rest of people’s lives. By placing equal emphasis on automotive and technology disciplines, Faraday Future is uniquely positioned to take a user-centric, technology-first approach to vehicle design. The company intends to develop a range of 100-percent electric vehicles that offer intelligent, seamless connectivity to the outside world.”