Faraday Future wants to put electric vehicle factory on a former naval shipyard [Updated]
Electric vehicle startup Faraday Future doesn’t have a production-ready car yet, but it has said it wants to get to that milestone within two years. The company just broke ground on a $1 billion (£0.7 billion), 3 million-square-foot factory in North Las Vegas in April, and now it wants another factory on Mare Island, a former naval shipyard located in Vallejo, a city north of San Francisco.
On Tuesday evening, the Vallejo City Council unanimously approved a six-month exclusive negotiating contract with FF LLC, a special-purpose subsidiary of Faraday Future, according to the Los Angeles Times.
Over the next six months, the company will solidify its proposal for the 157-acre site and present it to third-party lawyers and consultants representing the city. Faraday Future has agreed that it will pay the city’s legal and consulting fees as well as a $200,000 non-refundable negotiation fee, the Times says.