Faraday signs lease for assembly plant in Northern California
LAS VEGAS (KSNV News3LV) —
Faraday Future, the electric car start-up that is developing a Self-Driving SUV, has signed a lease on what it says will be its future assembly plant.
The plant is in Northern California.
The challenges for Faraday are steep. The company has reportedly had financial troubles and has been trying to line up investors so it can ramp up production.
Faraday Future halted work on its previous project outside Las Vegas in November 2016, at the time calling the stoppage a "temporary adjustment" that wouldn't affect plans to begin production in 2018. However, the work stoppage led to skepticism that the company would go through with its southern Nevada plans.
The company sunk more than $120 million into the Nevada project before finally deserting its plan to construct a $1 billion manufacturing plant earlier in 2017.