Here at Inhabitat, it’s no secret that we love all things Tesla. What you might not realize is how excited we get over the prospect of a viable competitor rising up to challenge the elite electric car maker. It’s not because we want to see Tesla overtaken, but rather because we know competition inspires innovation, and we’re dying to know what will happen when Elon Musk’s crew feels the heat. That day could be on the horizon, as we’ve learned that the mysterious Faraday Future is on the hunt for a location to build a $1 billion manufacturing plant.
The luxury electric car market is not just small; it’s downright minuscule. But the technology and profit margins are not, so the addition of even one capable competitor could shake things up quite a bit. There aren’t many details available about Faraday Future at this point, in part because the company won’t say where its funding is coming from, although BI reports that its parent company is owned by a Chinese billionaire with a deep admiration of Steve Jobs.
What we do know is this: the company is obviously aiming to be the next to do what Tesla does. In addition to being named after another inspirational scientist from history, Michael Faraday, the company is connected to a cadre of auto execs who formerly worked for BMW, Tesla, GM, Ford, and Fiat.
Faraday Future has been looking far and wide for the right location to launch its next move. The company says it has narrowed the search down to four states and an announcement will be forthcoming within weeks. The company plans to roll out high-end all-electric luxury cars that would be a direct market competitor to Tesla’s offerings. We’ll be watching closely for Faraday’s announcement to find out which state among the finalists—California, Georgia, Louisiana, or Nevada—might become the birthplace of Tesla’s worst nightmare.
Via Business Insider
Images via Faraday Future and Steve Jurvetson/Flickr