Electric car startup Faraday Future has
reaffirmed its intention to start deliveries in 2018 after having signed
a lease for a new assembly plant in California.
The company said its new facility will be in Hanford, California, roughly halfway between Los Angeles and Silicon Valley.
Faraday Future had previously said it would set up a factory in Las Vegas to build its vehicles, which are aimed at high-end Teslas.
"We know there is a lot of work and risks ahead, but this event represents a major step forward for the company," said Stefan Krause, the company's chief operating and chief financial officer.
"Investors invest in people, and our employees continue to be Faraday Future's strongest asset."
Faraday Future has revealed only scant details about its organization and financing.
However, the company said that the new facility in California offers "a faster path to production" and marks a step forward in plans to deliver its vehicles to market by the end of 2018.
In January, Faraday Future showed off a prototype of its FF91 electric car on the sidelines of the Consumer Electronics Show in Las Vegas, claiming it outperformed Tesla cars on key benchmarks.
Back then Faraday claimed that the FF91 would offer an estimated 604 kilometers of range before needed recharging, and would accelerate from zero to 60 mph (96km/h) in an eye-popping 2.39 seconds.