Construction work on Faraday’s $1bn production plant is set to begin in the Nevada desert
The mysterious Chinese auto brand has officially started construction work on its $1 billion Las Vegas manufacturing plant and expects its assembly line to be up and running by 2018.
The state-of-the-art Apex Industrial Park is to be built near Tesla’s epic Gigafactory, which is also currently under construction in the Nevada desert.
Faraday’s Apex Industrial Park will span an area of three million square feet once completed. This falls a little short of matching the 13 million square feet that will make up the whole of the Gigafatory complex, which, once completed, will have the largest building footprint in the world.
However, size is not everything and many believe Faraday Future will soon release an electric car to rival those of Tesla. The secretive auto firm currently employs around 700 people in the US, but it has yet to release a car to the market.
Faraday is backed by billionaire, Jia Yueting, who has been dubbed China’s Steve Jobs. Yueting made his money in the electronics industry and is the CEO and founder of Leshi (‘Happy TV’), an internet video platform.
The auto marque wants to fast-track the construction of the $1 billion production plant and have it completed within two years. According to Dag Reckhorn, the manufacturing vice president at Faraday Future, the construction of such a vast and innovative building would normally take more than four years.
Nevada officials and Faraday Future bosses celebrated the beginning of construction work at the desert site last week. The state of Nevada has pledged $335million in financial incentives to Faraday, which itself has promised to invest $75million to improve the state’s roads, rail system and water lines.
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