The company had earlier said it would build its cars in Nevada, but cancelled those plans about a month ago.
After pulling out of their plans to build a factory in North Las Vegas, electric vehicle company Faraday Future has already found a new home.in California. Faraday recently secured a $14 million rescue loan from NY investment firm Innovatus Capital Partners, putting up its own headquarters as collateral. The company was looking for an existing space to quickly begin production, and officials say Hanford was a flawless location.
"Investors invest in people, and our employees continue to be Faraday Future's strongest asset".
The warehouse being leased was originally a tire factory, first built by Armstrong Rubber Co.in 1962 and purchased by Italian tire maker Pirelli in 1985.
This weekend, the electric vehicle manufacturer invited its employees out to the site.
Still, there are signs that Faraday is in a very tenuous spot at the moment, and the new production plant lease looks like an attempt to demonstrate some kind of stability and path to shipping amid that chaos.
The company cited the turn-key nature of the Hanford factory, which does seem like a better fit for Faraday Future than previous plans to build all-new facilities.
In early 2018, the company will move its operations into a 55-year-old factory in Hanford, California, known as Hanford Business Park, which was previously used by Italian tire manufacturer Pirelli and is now owned by Industrial Realty Group, a real estate development and investment firm.
The new manufacturing facility has some 1 million sq. feet (90,000 sq. meters) and will employ up to 1,300 workers once production is ramped up.