Faraday Future leases new manufacturing facility in California

Faraday Future (FF) has signed a lease for its new manufacturing facility in California. FF plans to begin the process of clean-up to prepare the new site for the move-in of manufacturing equipment.

Tesla rival Faraday Future, which showcased its first production vehicle FF 91, has been struggling to find its feet in the manufacturing space. The new lease is a significant step forward for the company in delivering the FF 91 to its buyers by the end of 2018.

The new manufacturing facility in Hanford, California covers a million square feet and will employ up to 1,300 workers, over three shifts, over time.  

The company had recently announced that it was shifting its manufacturing focus to a turnkey facility that would enable faster production, with the new facility which is strategically located between USA’s two largest EV markets – Los Angeles and Silicon Valley.

"Investors invest in people, and our employees continue to be Faraday Future's strongest asset. As we begin this next phase in our company's history, our efforts to build out strong corporate leadership will bring a new focus to Faraday Future and deliver on our commitments to employees, investors, suppliers, and future users, who have shown exceptional patience and resilience through the company's difficult times," said Stefan Krause, COO and CFO, Faraday Future.

Dag Reckhorn, Faraday Future's VP of Global Manufacturing, will be spearheading all strategy and execution behind the new Hanford site. "Our new production facility is the latest demonstration of our commitment to getting the FF 91 on the road by the end of 2018," said Reckhorn. "Despite significant head winds on the path ahead of us, we are laser-focused on that one key milestone."

The company under Faraday Future's new leadership team, helmed by Krause (former CFO and board member of Deutsche Bank and BMW Global CFO) and Ulrich Kranz (former senior vice- president at BMW, responsible for the successful launch of i8, i3, Z3, and X5) in their roles as COO/CFO and CTO, respectively, the company is driving strategic changes to get Faraday Future investible.

Also read: Will Faraday Future take Tesla's electric crown?