Faraday Future to Start Building EV Factory to Rival Tesla Motors (TSLA)

Faraday Future

Faraday Future announced the ground breaking of its manufacturing plant in North Las Vegas, Nevada on Thursday.  The upstart electric car company is expected to compete with Tesla Motors (NASDAQ:TSLA).

The upstart electric car company described its manufacturing plant as” world-class” and will become a “formative breeding ground” for its vision for future mobility.

Faraday Future received a $1 billion investment for its production plant, and the company aims to roll out its first vehicles from its assembly lines by 2018.

Dag Reckhorn, Vice President of Global Manufacturing at Faraday Future, said, “Our aim is to complete a program that would normally take four years and do it in half the time, while still doing it right.”

The size of Faraday Future’s manufacturing plant is around 3 million square feet, which is almost the size of the Las Vegas convention center and located close to Tesla’s Gigafactory.

Faraday Future will use renewable energy to power its factory

According to Faraday Future, its plant will be automated, highly-connected and environmentally friendly. It will promote energy efficiency and modern design.  The upstart electric car company said it will use solar, wind, and geothermal energy to power its plant.

In addition, Faraday Future will use high-quality and sustainable parts from Tier-1 suppliers around the world to produce its electric vehicles. The company presented its FFZERO1 supercar concept during the Consumer Electronics Show in January.

Faraday Future Supercar Concept

“This first plant will be a truly modern workspace, offering a clean, open air environment, ergonomic arrangements, and an encouraged interactivity between employees and visitors. This will make for a brand new, cutting-edge west coast hub for the EV industry,” said Reckhorn.

Faraday Future creates 4,500 jobs

Reckhorn added that they are moving “extremely quickly” given the size of the project.  “We have tremendous support from local government officials and the community and look forward to making a significant impact on the local economy,” he said.

Faraday Future is hiring workers to fill 4,500 positions.  Nevada Governor Brian Sandoval endorsed the project and the state offered $215 million in tax breaks for the company.