“Billion dollar car companies don’t pop up overnight,” Bryan Clark reports for TNW. “Well, except Apple Faraday.”
“It plans to release its first vehicle in 2017, and claims it’ll have 15 percent more range than the Tesla Model S. Bold,” Clark reports. “It’s also spending some serious loot.”
“According to a recent blog post, Apple Faraday plans to spend $1 billion to develop a manufacturing plant in California, Nevada, Georgia or Louisiana in order to ‘explore other aspects of the automotive and technology industries, including unique ownership and usage models, in-vehicle content and autonomous driving,'” Clark reports. “The well-funded startup currently employs 400 people and adds 10 new hires a week. Right now you’ll find them operating out of Nissan’s former California research facility.”
Clark writes, “Welcome to the auto world Apple Faraday.”
Read more in the full article here.
MacDailyNews Take: See: Chinese billionaire Jia Yueting linked to ‘Faraday Future’.
SEE ALSO:
Chinese billionaire Jia Yueting linked to ‘Faraday Future’ – November 7, 2015
Mysterious, billion-dollar company ‘Faraday Future’ looks to take on Tesla – November 6, 2015
Meanwhile, in totally unrelated news, Apple is buying half of Silicon Valley for “manufacturing”.
Faraday! Well, the name Tesla was already taken for a lesser one but would probably suit the upstart better?
I like Tesla cars, like it a lot!
Great man to honour with the name. The scientists and engineers working on the car must be very proud to have their work associated with this brilliant scientist. Great name, Apple!
It is hard to hide a car factory so best to do it in plain site under another name.
Except, the LA Times (according to Cult of Mac) is reporting this is a Chinese company, and this is China’s answer to Tesla.
Reverse engineering baby.
Gotta love the Chinese “legal system”
Georgia or Louisiana? There must be some serious tax advantage to locate there!
Not really. Apple wouldn’t create a fake company and put up a website for a future product they’re working on. Anyway the LA Times says this company is fronted by a Chinese billionaire.