Mysterious Faraday Future Announces $1 Billion Factory In Vegas

Los Angeles-based Faraday Future, the stealthy electric automobile company backed by a Chinese billionaire, broke ground on what it said will be a $1 billion facility in North Las Vegas on Wednesday, which it says it will use to build its yet-to-be-announced production vehicles. In an echo of Tesla Motors, the company said it will be using solar, wind, and geo-thermal energy to power its "environmentally conscious endeavor", and that it will use "sustainably sourced parts" to build its production electric vehicles at the location. Faraday Future quietly set up shop in Gardena back in November, saying it is looking to rival Tesla Motors. Image: Faraday Future's concept drawings of its factory.