According to sources familiar with the company’s plans, luxury EV startup Faraday Future will scale back on construction of its manufacturing facility in North Las Vegas and reduce its product lineup from seven to two models.
Qiong Liu, city manager for North Las Vegas, indicated that Faraday will now build a 650,000-square-foot assembly plant on a site originally reserved for a 3 million square foot facility. The operation is expected to go online in 2019 and build less than 10,000 vehicles a year.
Sources have also told Reuters that the company’s initial product portfolio will consist of the FF 91 flagship that it unveiled in January as well as a smaller, more cost-effective crossover called the FF 81 that would compete against the Tesla Model X.
For its part, Faraday responded to the claims by stating that the company remains committed to the State of Nevada and was moving forward with a “a long-term development plan to bring manufacturing facilities online at a steady pace.”
In December 2015, Faraday announced plans to invest $1.3 billion to build a factory that would annually produce 150,000 vehicles by the end of 2017.
Read full article at: Reuters »