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Faraday Future to open manufacturing plant in California

Faraday Future is moving out of Nevada, at least for now, company spokesmen confirmed Monday.

The autonomous-electric-vehicle manufacturer signed a lease on a 1-million-square-foot manufacturing facility in Hanford, California, between Los Angeles and Silicon Valley.

A Faraday spokesman told the Review-Journal the company signed the lease “within the last few weeks,” and that the new facility has existing infrastructure, giving Faraday “the fastest path to production.”

Faraday Future retains ownership of 930 acres of land in Apex and a spokesman for Faraday Future told the Review-Journal that Faraday Future “remains committed to Nevada for its long-term manufacturing plans,” but did not provide details.

Faraday bought the land last year for around $29.4 million, Clark County records show.

Sam Abuelsamid, a senior analyst for the market research firm Navigant, said anything’s possible but “given their financial position, it would be hard to see why they would want to hang onto the property, unless they don’t think they can get enough for it to make it worthwhile to sell it.”

The Review-Journal reported last month that the site could be a tough sell, given limited demand for that property.

A Faraday spokesman did not immediately return a request for comment on that point.

Faraday will continue the process of site preparations, including planning, refurbishment, and permitting, the statement said. Following the move-out of current tenants in late November, the company expects significant movement to ramp-up on site early next year.

Faraday is still set on delivering its first production vehicle, FF 91, to market by the end of next year.

“Despite significant head winds on the path ahead of us, we are laser-focused on that one key milestone,” said Dag Reckhorn, Faraday’s vice president of global manufacturing.

Over 300 Faraday Future employees and supporters drove from Los Angeles to Hanford Saturday to begin the process of site-clean up.

An account executive at a current Faraday supplier, who did not want to be named because the company is still seeking a past-due payment and is seeking to continue doing business with Faraday, said he sees the move as encouraging.

“I hope this is a good sign,” he said. “We hope that we’ll have the opportunity to continue that relationship with Faraday int he future, which is sounding more likely.”

Faraday Future’s new manufacturing facility will employ up to 1,300 workers, over three shifts, over time, the statement said.

Contact Nicole Raz at nraz@reviewjournal.com or 702-380-4512. Follow @JournalistNikki on Twitter.

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