Faraday Future to Invest $1 Billion in U.S. Production Facility

GARDENA, Calif., Nov. 5, 2015 /PRNewswire/ -- Faraday Future (FF), a new electric vehicle and future mobility startup company, announced today that the company will invest $1 billion in a U.S. manufacturing facility as a phase one investment. The company has been considering several locations including California, Georgia, Louisiana and Nevada, for its state-of-the-art facility. The exact site of FF's first manufacturing facility will be announced in the coming weeks.

"We are very excited to make our $1 billion investment in U.S. manufacturing — and this is just phase one. Selecting the right location for the future FF 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.

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.

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

ABOUT FARADAY FUTURE

Faraday Future is 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, FF is uniquely positioned to take a user-centric, technology-first approach to vehicle design. The company intends to develop a range of 100% electric vehicles that offer intelligent, seamless connectivity to the outside world. FF seeks to redefine the automotive experience by delivering a range of intelligent, electric vehicles and unique ownership arrangements that will fit the needs of tomorrow's population. FF expects to bring the first vehicle to market in 2017.

For updates and more information, visit www.faradayfuture.com

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SOURCE Faraday Future

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