Faraday Future leases million-square-foot factory in California

Finally, some good news for the company.

Last month, when Faraday Future canceled its plans for a 650,000-square-foot facility ( downgraded from an earlier planned 3 million square feet) near Las Vegas, we were already too jaded from repeated bad news to feign surprise. There's positive news today, though, as the startup electric automaker has announced the lease of an existing factory in Hanford, California.

The 1 million-square-foot facility is "strategically located," as Faraday Future points out, between the EV markets of Silicon Valley and Los Angeles. COO/CFO Stefan Krause called the announcement "a major step forward for the company," adding that "employees, investors, suppliers, and future users ... have shown exceptional patience and resilience through the company's difficult times."

Faraday Future said that on Aug. 5, "more than 300 Faraday Future employees and supporters voluntarily drove from Los Angeles to Hanford to begin the process of site clean-up, and embrace the company's new manufacturing home." Eventually, the company plans to employ 1,300 workers over three shifts at the facility. Its first vehicle, the Faraday Future FF91, is scheduled to go to market in late 2018.

The California Governor's Office of Business and Economic Development (GoBiz) echoed statements about the significance of the new production site. "Faraday Future's announcement today is another step towards realizing Governor Brown's goal of adding one and a half million zero emission vehicles on the road by the year 2025," said GoBiz Director Panorea Avdis. "When Faraday Future achieves its goals, the State of California achieves ours, and our office will continue to assist the company's needs to grow and expand, as we have from day one."

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