© faraday future Electronics Production | August 10, 2017
Faraday Future shows off new California manufacturing facility
Electric car company, Faraday Future, has signed a lease on its new manufacturing facility, and began the process of clean-up to prepare the new site for the move-in of manufacturing equipment.
The facility marks a step forward for the company in delivering its first production vehicle, FF 91, to market by the end of 2018 as the company pauses its plans of building a new facility in Nevada. Faraday Future recently announced that it was shifting its manufacturing focus to a turn-key facility that offers a faster path to production. The new production facility, located in Hanford, California, is located between the country’s two largest EV markets, Los Angeles and Silicon Valley. “We know there is a lot of work and risks ahead, but this event represents a major step forward for the company,” said Stefan Krause, COO/CFO, Faraday Future. “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.” Dag Reckhorn, Faraday Future’s VP of Global Manufacturing is spearheading all strategy and execution behind the new Hanford site. “Our new production facility is the latest demonstration of our commitment to getting 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.” 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 Sr. 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. This new production facility is a path forward for the company’s manufacturing plans, and focuses on building out the company’s network of investors to diversify FF’s funding strategy. Faraday Future will continue the process of site preparations, including planning, refurbishment, and permitting. Following the move-out of current tenants in late November, the company expects significant movement to ramp-up on site in early 2018. Faraday Future’s new manufacturing facility is 1 million square foot, and will employ up to 1’300 workers, over 3 shifts, over time. Images © Faraday Future
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