Faraday Future, a Chinese-backed startup, targets Tesla with $1 billion US plant
Mysterious billion-dollar car company takes on Tesla
Nick Sampson, senior vice president of research and development for Faraday Future, at the company’s headquarters in Gardena, California Photo: Bloomberg
Faraday Future, the startup backed by Chinese billionaire Jia Yueting, has big dreams of taking on Tesla Motors Inc, starting with a $1 billion investment in a new US factory that will build electric cars starting in 2017.
Nick Sampson, a former Tesla director who is Faraday’s senior vice president of research and development, said Faraday plans to introduce its first electric car in two years and quickly follow with several other models.
Faraday is based in Gardena, California, where it has been developing its first model with 400 employees. Jia Yueting is founder and chairman of Leshi Television, a popular Chinese online video site.
Faraday, which is so secretive that it will not reveal the name of its chief executive, is the latest in a group of Chinese-backed startups to start work on electric cars in the US.
Faraday Future Director, Richard Kim