Finance

The company that showed us its 1,000-horsepower electric supercar is buying up land for its massive factory in Nevada

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Faraday Future
The Faraday Future FFZERO1 Concept, a high-performance electric vehicle built upon FF's Variable Platform Architecture (VPA).  Alex Wong/Getty Images

Faraday Future, the electric-car company that debuted a 1,000-horsepower electric concept car at the Consumer Electronics Show in Las Vegas earlier this year, is starting to make some earnest moves to get its manufacturing operation off the ground.

The company has been buying up land at the site of its proposed 900-acre factory in North Las Vegas.

According to the Las Vegas Review-Journal, Faraday snapped up several parcels — about 14 acres' worth so far — at the Apex Industrial Park.

Public documents show that a limited-liability company named Robin Prop Holdco is the buyer. "In care of Faraday & Future" is noted along with the company's address.

The address is the same as Faraday Future's headquarters in Southern California, according to the Las Vegas Business Press.

Two of the parcels that were bought belonged to medical-marijuana companies, the Review-Journal noted, citing records from the Clark County Assessor's office.

A real-estate company sold a third parcel to Faraday Future, bringing the total purchases on Faraday's behalf to about $1.65 million.

"We are in the final stages of closing on the last parcels of land," Faraday Future spokesperson Stacy Morris told the Review-Journal. "We are moving extremely quickly for a project of this size and expect to start the heavy construction as soon as possible," she said.

Faraday Future factory concept
A concept rendering of Faraday Future's Nevada production facility.  Faraday Future

The Faraday Future plant is expected to create about 4,500 jobs in an area of Nevada that was nearly insolvent just a couple years ago.

Morris told Business Insider last month that Faraday Future's vehicle technology was undergoing cold-weather testing in the Midwest earlier this year.

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Bryan was a former senior editor on the West Coast news team who joined Insider in January 2015. He built the West Coast news division from a staff of one to a team of 12, expanding its footprint from San Francisco to Los Angeles and Sydney, Australia, from 2015 to 2018. In 2019, Bryan took over leadership duties on Insider's transportation desk, successfully growing the team from four full-time journalists to a group of eight reporters, two correspondents, and an associate editor in less than a year. Under his leadership, the transportation team broke stories on Tesla, NASA, and United Airlines. It produced extensive coverage of the SpaceX Demo-2 launch, profiled Ford CEO Jim Hackett on the future of the legacy automaker, and launched a quarterly series spotlighting the next phases in the world of mobility. Bryan was also part of the inaugural team that launched Insider's revamped IGNITION conference, hosting the titans of the transportation, tech, and mobility industries in San Francisco. In 2020, Bryan rejoined Insider's news desk to oversee the expansion the West Coast bureau, which includes reporters in Hawaii and an office in Singapore.  Bryan is an LA native who began his career in talk radio and also anchored weekend news coverage for an NPR affiliate in San Diego.