Faraday Future To Build 10,000 Cars Per Year In New Hanford Factory
Faraday Future announced yesterday its acquisition of a factory in Hanford, California. The company also revealed they plan to build 10,000 cars per year through the newly acquired plant. Does the low output hint on a high price tag of the upcoming electric vehicle?
The Tesla competitor leased a huge old factory in Hanford, in Central Valley. The facility measures 1 million square-feet. Pirelli used to produce tires in the said plant. Then various entities replaced the tire company.
This announcement confirms that the company will not really proceed its production in Nevada. A few weeks ago, FF also announced they are putting on hold the $1 billion investment that was supposed to be allocated for a new factory near Las Vegas.
The American start-up technology company assigned one-third of its 1,000 employees to begin cleaning up the newly acquired factory. The company's vice president of manufacturing, Dag Reckhorn, led the clean-up session yesterday.
Reckhorn is a veteran from Tesla. He is now expected to convert the Hanford facility to be the home of the upcoming FF 91.
The vice president told USA Today that the Hanford factory offers a majority of the company's requirements. It has gas, water, space, power and a rail line. He emphasized that these features are essential in the start-up facility.
Reckhorn also revealed they were able to get a good deal from the landlord. Faraday Future can already access the plant without shelling out any rent. The latter graciously allowed the company to begin paying rent by early 2018.
FF will now prioritize the improvements of the factory. They also need to guarantee the environmental safety measures of the facility prior to the start of operations.
10,000 Cars Per Year Hint Of A Higher Price Tag?
The vice president also mentioned they are targeting to build around 10,000 cars per year through the Hanford plant. This output is relatively low compared to Tesla's current output of 100,000 units of combined Model S and X.
The goal of a small production run seems to project the company's focus is not on quantity. This also suggests that the upcoming electric vehicle of FF might come out with a high price tag.
The publication noted that the cost of the prototype of Faraday Future's upcoming model with reclining rear seats is similar to Lucid Motor's upcoming model, which is about $160,000. The final FF 91 that promises 1,000 hp would most likely launch with a higher price.
Meanwhile, MarketWatch claims a source revealed that Faraday Future made its headquarters as a loan collateral. The company allegedly borrowed $14 million from a New York investment firm, Innovatus Capital Partners LLC. The latter turns out to be the replacement of Chinese billionaire Jia Yueting, who is currently facing financial issues.
Faraday Future FF91 Challenges Tesla Model 3; How Is It Different From Other Electric Cars?
The awaited Faraday Future FF91 has been seen displayed at an auto show, revealing how it can actually challenge the upcoming Tesla Model 3.
Tesla Model 3 Delivery Started, 30 Telsa Employees First To Get Hands On
Tesla Model 3 deliveries started on July 28 and 30 employees from Telso got the car keys.
Elon Musk Reveals First Images Of Tesla Model 3 Production Unit On Twitter
Elon Musk showed off the very first Tesla Model 3 unit on Twitter and Instagram.
Tesla Model 3 Hits Production This Week, First Car To Be Delivered This Month
The Model 3 will be priced around $35,000. Elon Musk envisions it reaching a much wider range of customers and has said he expects it to push Tesla’s output to 500,000 cars a year in 2018.
BMW Is Set To Unveil Its Tesla Model 3 Competitor In September
Elon Musk has said that the entry-level Model 3 will cost $35,000. While a BMW Series-3 vehicle can be had for as little as $33,000. That said, if BMW’s entry-level can compete with the Model 3 on features and on specs.
MORE IN ITECHPOST
Smart Monitoring Tools That Make Sense
There are plenty of monitoring tools out there, some better than others. But the initial challenge is figuring out which ones work for certain kinds of tasks. There is a lot of functional overlap, and you don't want to spend time doing the same task twice. Of all the debugging and Python monitoring tools, you'll likely end up needing just a few, not dozens. The answer lies in categorizing the tools. After that, we can examine the different jobs that each kind of tool is designed for.
How Do Personal Emergency Response Systems Work?
Personal emergency response systems, known as PERS for short, are systems that help people to raise the alarm and get immediate help when a medical or personal emergency occurs. They are ideal for older people and anyone with a mobility issue or an injury or illness that can cause falls.
'The Outer Worlds' Pre-Order Guide Plus Game Details Roundup
"The Outer Worlds" is only days away, and fans can pre-order the game.
Advantages of Team Sports for Students
Most students are aware that physical exercise is a beneficial activity that does not only improves physical and mental health but also provides plenty of more benefits. Good fitness, energy, focus, self-discipline - these are just some of the few listed advantages from a significantly bigger list.