Faraday Future to Build $1B Plant in Nevada

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Faraday Future to Build $1B Plant in Nevada

A new startup American automaker has announced plans to build its first production plant in Nevada. 

Faraday Future is looking to take on Tesla in the electric vehicle market and is actually made up of many former Tesla employees. Along with Nevada governor Brian Sandoval, Faraday Future announced its plan to spend $1 billion on its new plant outside of Las Vegas.

About 4,500 jobs are expected to be created by the new plant, which will produce cars and house labs for future transportation technology testing. Nevada is the same state where Tesla is building the gigafactory which will be the world’s largest battery-producing plant when it is finished.

SEE ALSO: Faraday Future Teases Concept Set to Debut Early 2016

According to Motor Trend, the financial backing behind Faraday Future comes from Yueting Jia, a Chinese billionaire who owns LeTV, the Chinese version of Netflix.

Faraday Future will unveil its first concept car at the Consumer Electronics Show in January, 2016. The brand’s first production-ready car is supposed to be on the road in 2017.

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  • craigcole

    Yep, piss a billion dollars away building a brand-new factory in the desert. Wouldn’t it be smarter to refurbish one of the countless abandoned facilities scattered across the Midwest?