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Mysterious electric car startup looking to build $1B factory
LOS ANGELES (AP) — The luxury electric car market may be small, but it's lucrative enough to get another jolt — this time from a mysterious startup that says it wants to re-imagine how people interact with their autos.
The startup's name is Faraday Future, and it has been hunting for a place to build what it says will be a $1 billion manufacturing plant for a new line of cars. Four states are contenders and the company says to expect an announcement within weeks.
Headquartered in a low-profile office just south of Los Angeles, Faraday is holding a lot of details close. Though it won't confirm the source of its funds, documents filed in California point to a parent company run by a Chinese billionaire who styles himself after Apple's late Steve Jobs.
Based on the few other public clues, Faraday is following the path blazed by Tesla Motors, its would-be rival hundreds of miles away in Silicon Valley.
Like Tesla, Faraday's car will be all-electric, and debut at the high end.
The startup of about 400 employees has poached executive talent from Tesla and also draws its name from a luminary scientist — Michael Faraday — who helped harness for humanity the forces of nature.
Can you help answer these questions from other members on NexusFi?
The Model X is amazing. We didn't get to drive one but the manager had one (I don't know if it was his personal or what.) But an employee was taking people for rides in it.
And of course during our test ride we get pulled over by the DPS because the trooper wanted to look at the car!
Well made, solid, beautiful. Ludicrous mode is the apt name as it was ludicrous...
