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Electric-Car Startup Faraday Future Building a $1 Billion Factory In California
Faraday Future, an electric car startup based in California, wants to take on Tesla. They're building a $1 billion factory in California. Business Insider reports: "The startup of about 400 employees has poached executive talent from Tesla and also draws its name from a luminary scientist — Michael Faraday — who helped harness for humanity the forces of nature. Even Faraday's public announcement that California, Georgia, Louisiana and Nevada are finalists for the factory mirrors the approach Tesla took to build a massive battery factory. Nevada won that bidding war among several states last year by offering up to $1.3 billion in tax breaks and other incentives. Faraday hopes to distinguish itself by branding the car less as transportation than a tool for the connected class."