Faraday Future Is Planning a New Factory in China
Kristin Snyder is dot.LA's 2022/23 Editorial Fellow. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.
In an investor presentation filed with the SEC on Wednesday, the Gardena-based company said that it intends to open the factory as early as 2025, TechCrunch reported. While Faraday has yet to determine a specific location, it said the new plant should help it cut costs and lead times and reduce supply chain issues as it expands into the Chinese market. The facility will also house the company’s Chinese headquarters.
The factory will produce Faraday’s second and third vehicle models, the FF 81 and the FF 71, and will complement the automaker’s 1.1-million square-foot plant in Hanford, Calif., which is slated to open in July and eventually churn out 10,000 vehicles annually. In February, the company also announced a partnership with South Korean auto manufacturer Myoung Shin to help produce the FF 81.
Faraday plans to finally launch its first electric car, the FF 91, this fall—though it recently disclosed that it had only received 401 pre-orders for the vehicle by the end of March. The underwhelming response has been yet another blow for a company that’s had no shortage of issues in recent years—from financial troubles and leadership shakeups to investor lawsuits and regulatory probes.
Representatives for Faraday Future did not immediately return a request for comment.
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Kristin Snyder is dot.LA's 2022/23 Editorial Fellow. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.