[NetEase Smart News, August 7] As many of us are aware, Jia Yueting has always harbored a deep-seated dream of creating a revolutionary automobile. Following his resignation as chairman of LeTV, he has been stationed in the U.S., actively engaging in the development plans of his investment-backed automotive company, Faraday Future.
It is known that Faraday Future (FF), the company founded by Jia Yueting, has seen him take on the role of Global Executive Committee Chairman. Additionally, they have recruited Ulrich Kranz, a former senior executive from BMW’s electric vehicle division, to serve as their Chief Technology Officer.
According to a recent Wall Street Journal report, they recently abandoned a $14 million “relief loan†after failing to secure a $1 billion fund for building a factory in Nevada. This amount could have covered part of the rental costs for their new facility, which was to be financed by a New York-based investment firm, with the Los Angeles headquarters serving as collateral.
It has been reported that Faraday Future's upcoming manufacturing site will be a 90,000-square-meter factory located in Hanford, California. The plant, which has remained largely vacant since 2001, is now part of the Hanford Business Park. Situated about 200 miles north of Faraday Future’s current Los Angeles headquarters, the property is owned by the U.S.-based real estate development and investment company, Industrial Realty Group. A representative from Faraday Future confirmed that following the activation of the lease agreement in early 2018, the company would relocate to Hanford Business Park. (Dingxi)
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