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Electric Car Maker Faraday Future Leases California Plant

LOS ANGELES (AP) — Remember when Electric car maker Faraday Future was supposed to build a multi-billion dollar plant in North Las Vegas?

Well those plans got scrapped, and now the company says it has decided to build vehicles at an existing factory in California.

The move comes less than a month after the company scrapped a plan to build a $1 billion factory in Nevada.

Faraday said Monday it signed a lease on a 1 million-square-foot (93,000 square meters) factory in Hanford, California, about 200 miles (320 kilometers) north of its Los Angeles headquarters.

In early July, the company ditched its plan to build a manufacturing plant in North Las Vegas, Nevada, despite spending $120 million to develop the site.

Faraday says it can get to market faster with an existing factory. The company wants to start selling its first vehicle, the luxury FF 91 sedan, by the end of 2018.

 

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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