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Faraday Future Abandons $1 Bil Nevada Plant Project

EV start-up now planning to find alternative production site.

by on Jul.11, 2017

Officials dug in at the May 2016 groundbreaking ceremony for what was to be a $1b plant.

Financially struggling battery-electric automaker Faraday Future will cancel plans to build a $1 billion assembly complex in the Nevada desert near Las Vegas, raising further questions about the start-up’s long-term future – and costing about 4,500 planned U.S. jobs.

Construction work at the plant has been on hold since last November and the company has been hit by legal claims from vendors who say they have not been paid. The latest setback comes days after a court in Shanghai reportedly froze some of the assets of Jia Yueting. The tech billionaire has been a key backer of both Faraday and another EV start-up, LeEco.

Come Along for the Ride!

But Faraday officials insist their company will move forward on plans to produce a long-range, high-performance electric vehicle, the FF91, which was unveiled at a splashy news conference in Las Vegas during the Consumer Electronics Show last January.

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Faraday Future Set to Reveal First Car at CES

LeEco’s autonomous debut short-circuited when its car wouldn’t run.

by on Oct.20, 2016

The LeEco LeSee concept.

Tesla Motors isn’t the only automotive upstart attempting to make news about electric and autonomous vehicles. Several potential competitors have their own, futuristic models to reveal – though, as Chinese-owned LeEco demonstrated Wednesday, there are plenty of pitfalls along the path.

With billionaire investor Jia Yueting on hand for a public unveiling in San Francisco, LeEco’s event went off the rails when the LeSee, its prototype autonomous electric vehicle, couldn’t drive down the runway, forcing Jia to run down the ramp on his own.

Plug In!

Jia, who made a fortune in the Chinese electronics industry, is clearly hoping to do better with a second automotive start-up he is funding, California-based Faraday Future. That company made its debut last January at the Consumer Electronics Show in Las Vegas, and will be back at the 2017 CES in less than three months to unveil its first production model.

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Chinese-Funded Faraday Future Breaks Ground on $1 Bil Las Vegas Plant

Project set to be ready within two years.

by on Apr.14, 2016

Officials dig in at the groundbreaking ceremony for the new Faraday Future plant near Las Vegas.

The Chinese-backed battery-car start-up Faraday Future has broken ground for a $1 billion assembly plant set to rise in the Las Vegas suburbs.

The factory, which will eventually employ 4,500, is expected to produce a series of new electric vehicles, though the California-based company has provided only a faint glimmer of what it has in store once production begins in 2018.

Electrifying!

“Our aim is to complete a program that would normally take four years and do it in half the time, while still doing it right,” Dag Reckhorn, the head of global manufacturing for Faraday Future, said during a groundbreaking ceremony on a desert field in the Sin City suburb of North Las Vegas.

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Faraday Future Sketches Out Plans for Tomorrow

But start-up leaves plenty of questions unanswered during debut event.

by on Jan.05, 2016

The Faraday Future FF Zero1 concept.

A revolution on wheels? That’s what officials from Faraday Future laid out for an audience at the Consumer Electronics Show late Monday as the mysterious, Chinese-funded start-up carmaker finally came out from the shadows.

Launched just 18 months ago, largely with the backing of Chinese billionaire Jia Yueting, Faraday plans to set up a $1 billion assembly plant in North Las Vegas, with the first car set to roll down the line sometime in 2018, R&D chief Nick Sampson confirmed during a high-energy presentation. But the CES debut left plenty of questions unanswered.

The Future is Now!

Among them, what will Faraday build? The California-based carmaker rolled out the FF Zero1, something that lead designer Richard Kim called “a concept of cars,” but it is admittedly nothing more than an “electric dream car,” Kim stressed, rather than something likely to go into production.

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Start-Up Faraday Future Picks Nevada for New EV Plant

Chinese-backed firm to invest $1 bil in plant near Las Vegas.

by on Dec.11, 2015

Nevada Gov. Brian Sandoval expects Faraday Future to generate 13,000 new jobs.

Secretive start-up carmaker Faraday Future has announced plans to invest $1 billion in a new assembly plant that it will erect in suburban Las Vegas.

Backed by the Chinese billionaire Jia Yueting, Faraday is promising to build a pure battery-electric vehicle that will target, among other rivals, the products of California’s Tesla Motors. Coincidentally, Tesla earlier this year began setting up a $5 billion battery plant, the so-called Gigafactory, near Reno, Nevada.

The Last Word!

As with the Gigafactory, Faraday was lured to the gambling mecca by a large tax incentive – this one reportedly worth $250 million. In return , the North Las Vegas factory is expected to generate 4,500 jobs and should even boost tourism by offering plant tours and “other engaging experiences,” the budding carmaker promised.

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Mysterious New EV Start-Up Plans $1 Bil Plant

Faraday Future plans to “create something the world has never seen before.”

by on Nov.09, 2015

The home page of mysterious auto start-up Faraday Future hints at its planned products.

Who or what is Faraday?

Like Nikola Tesla, the patron saint of battery-carmaker Tesla Motors, Michael Faraday was a pioneer in the fields of magnetism and electricity, and his name is now being used by another mysterious electric vehicle start-up, Faraday Future.

Emerging out of the blue, the company has set up shop in California and says it is looking to put up a new, $1 billion manufacturing plant But exactly where its money is coming from and what sort of cars it plans to build are far from clear.

Stay on Top of Fast Changes!

“When creating our vehicles, we began with four wheels but we are re-envisioning everything else,” Faraday Future declares in a newly launched website. “With backgrounds in automotive, aerospace, biomedical, consumer electronics, and others, our rapidly growing engineering team brings a uniquely diverse approach to the future of mobility.”

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