Faraday Future’s plan to bring an electric car to market is getting a bit clearer, after months speculation about the secretive company’s plans to compete with Tesla.
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 neighbours 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.