Former Tesla Motors employees and a number of automobile executives are currently building its hive with the intent of manufacturing its own line of luxury electric cars. The company, named Faraday Future, is looking to strike at Tesla Motor's hold in the electric car market, observers said.
The small startup currently has 400 employees, including former top Tesla officials like Nick Sampson, according to Forbes. Sampson once served as the lead chassis engineer for Tesla's Model S before parting ways with the company in 2012. Currently, he is the senior vice president of Faraday Future.
Dag Reckhorn, another high-ranking ex-Tesla employee assigned to the the company's marketing arm, is now part of Faraday Future's leadership team, the Los Angeles Times reports.
Battery engineer Porter Harris worked for SpaceX rocket company in Hawthorne before he was poached by Faraday Future. SpaceX is a firm owned by Elon Musk, who also owns Tesla Motors.
Faraday Future has made the former Nissan sales facility in Gardena, California its headquarters. The small startup, which launched 18 months ago, is now looking for possible production sites in California, Georgia, Nevada and Louisiana, CNET.com reports.
Backing Faraday Future's ambition is Chinese billionaire Jia Yueting, who is worth $7 billion and is China's 17th richest citizen. Jia's business empire includes his own line of smartphones and 70 percent stake in Yidao Yongche, a transportation service modeled after Uber. Jia will provide $1 billion to fund the project. The Chinese businessman has been very vocal with his desire to build cars that would rival Tesla's high-end models.
Auto industry expert and geography professor James Rubenstein said that with a $1 billion funding, Faraday Future has enough money to build a fully functional auto factory. Thilo Koslowski, another industry expert, commented that the situation is perfect for Faraday Future, as technologies in building electric cars are readily available.
"Unlike a combustion engine car, you don't need as much of a research and development and testing infrastructure," Koslowski said.
Faraday Future plans to roll out its first model in 2017.
