Billion dollar car companies don’t pop up overnight.
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.
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.”