Tesla Rival Faraday Future Plans Factory, Concept Car
The Nevada factory will create 4,500 new jobs.
Carmaker Faraday Future announced Thursday plans to build a $1 billion factory in North Las Vegas, pending approval from the state legislature.
News of the proposed three-million-square-foot facility, to be located in Clark County’s APEX Industrial Park, comes after months of speculation about the secretive carmaker based in Gardena, Calif., which previously said it plans to build an advanced, all-electric car.
The new factory will create 4,500 new jobs, according to the carmaker.
Faraday Future is staffed with former executives from Tesla, BMW and other prestigious auto brands.
Earlier this year, Tesla broke ground on its $6 billion Gigafactory near Reno, which will manufacture lithium-ion batteries to power Tesla's Model S, Model X and forthcoming Model 3 electric vehicles.
The announcement that Faraday Future secured a factory site fanned rumors that the company is a front for Apple's mysterious Project Titan, which is staffed in part by former Tesla executives and is widely believed to be developing an Apple-branded electric car.
In September, the Wall Street Journal reported that Apple had authorized Project Titan to hire an additional 1,200 employees and planned to ship its first car in 2019. Faraday Future has said it will launch its first car in 2017.
The public will get a first glimpse of Faraday's plans on Jan. 4 when it reveals a concept car ahead of the 2016 CES show in Las Vegas.