Electric car maker Faraday Future leases California plant
Deal follows the scrapping of a proposed $1 billion plant in Nevada.
LOS ANGELES — Electric car maker Faraday Future says it has decided to build vehicles at an existing factory in California.
The move comes less than a month after the company scrapped a plan to build a $1 billion factory in Nevada.
Faraday said it signed a lease on a 1 million-square-foot (93,000 square-metres) factory in Hanford, Calif., about 200 miles (320 kilometres) north of its Los Angeles headquarters.
In early July, the company ditched its plan to build a manufacturing plant in North Las Vegas, Nevada, despite spending $120 million to develop the site.
Faraday says it can get to market faster with an existing factory. The company wants to start selling its first vehicle, the luxury FF 91 sedan, by the end of 2018.