Report – Faraday Future investor has ambitious plans for own plant and auto company image

First of all, we have to connect the dots – the backer of the California-based Faraday Future is LeEco CEO and founder, Chinese billionaire Jia Yueting – and he allegedly wants the company’s new $1.8 billion factory to deliver 400,000 EVs per year.

LeEco has already outed an interesting concept dubbed ‘LeSEE’ earlier this year that serves as the appetizer for a production series all-electric sedan – wink wink Tesla Model S. The two companies are tied through the major investor but LeEco will actually have its own products catering for the Chinese market, so we’re not actually here to discuss the plans of Faraday Future. Instead, we found some details about LeEco’s automotive plans – which include an assembly facility in the Zhejiang province of China through an investment of 12 billion yuan (about $1.8 billion). The facility should be running its full course by 2018 when it could deliver up to 400,000 autos per year.

Local media is also reporting the new plant will be an integral element of an Eco Experience Park which is going to consume up to 20 billion yuan ($3 billion). We’re a bit skeptical on the timing since we’re already half past 2016 and the firm is just commencing the groundwork for the plant. Meanwhile Faraday Future is diligently working on its first production model , which is rumored to take on the Tesla Model X crossover and also feature a vast array of autonomous technologies.

Via scmp.com