VALLEJO, Calif. — City leaders in Northern California voted unanimously to enter on an exclusive negotiating agreement with Faraday Future for a 150-acre electric car plant on a former Vallejo shipyard.
The Vallejo City Council voted on the project on the north end of Mare Island on Tuesday night.
The plant is expected create hundreds of jobs and to pump hundreds of millions of dollars into Vallejo. The city on San Pablo Bay, about 30 miles northeast of San Francisco, was once the capital of California and a thriving naval center. But in 2008, this diverse working-class city had tens of millions of dollars in debt and filed for Chapter 9 bankruptcy protection. In 2011, a federal judge approved Vallejo’s $50 million debt-restructuring plan.
Since then, it has been slowly rebuilding.
The electric car project would bring Vallejo increased property, sales, utility and hotel taxes among other boons.