Los Angeles-based Faraday Future, a private electric car startup, is close to locking in an exclusive negotiating agreement with the City of Vallejo to buy a 157-acre site to build a production facility and showroom. The potential deal would be a huge economic boost for Vallejo, which emerged from bankruptcy five years ago.
City officials plan to vote on the agreement on May 31. The agreement would give the company six months to firm up its proposal to build a 1 million-square-foot facility in North Mare Island.
“We view this exciting venture as a partnership with the City of Vallejo, through which we can jointly achieve and exceed the economic development goals for the property,” said Dag Reckhorn, the company’s vice president for manufacturing, in a letter to city officials. “We anticipate creating hundreds of construction-related, ongoing business and manufacturing jobs as a result of our continued plans to meet projected consumer demands for electric vehicles.”
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