Electric vehicle hopeful has been reneging on factories it hasn’t yet built [Updated]

Enlarge / Faraday’s FF91 design is somewhat derivative, echoing the Jaguar F-Pace and evoking a latter-day Saab SUV, had the company not died before designing its own proper one.
(credit: Jim Resnick)

In early 2016, electric vehicle company Faraday Future celebrated a deal with the state of Nevada—in exchange for building a $ 1 billion factory that would eventually employ up to 4,500 people, the company would get $ 335 million in tax cuts from the state.

Later that year, Faraday Future negotiated another deal on a former Navy shipyard in Vallejo, California. There, the electric vehicle company would build a second factory and a “customer experience center.”

Now, neither of those two projects is happening as planned. In March, Faraday Future said it would not move forward with the Vallejo site and told investors that it would be cutting its billion-dollar Nevada site down considerably, from a three-million-square-foot facility to a 650,000-square-foot facility. Earlier this month, the Le Eco-backed startup said it wouldn’t be building on the Nevada site at all, opting to put a base at a smaller site in either California or Nevada. It will, however, hold the property it bought at the site for “long-term vehicle manufacturing,” according to the Nevada Independent.

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Ars Technica

Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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