Faraday Future's own future is in question

The company had originally planned a 3 million square foot facility that was this year reduced to 650,000 square feet and now ultimately to zero.

@LanaJelic
Published Sat, Jul 15 2017 9:24 AM CDT   |   Updated Tue, Nov 3 2020 11:54 AM CST

According to the Las Vegas Review Journal, Faraday Future has said that they are walking away from their planned $1 billion electric car manufacturing facility in North Las Vegas. They will instead seek an existing building to build their vehicles in, instead.

Faraday Future's own future is in question | TweakTown.com

By starting production in an existing facility, the company can prove its own viability and now the company is looking for a place with 1 million square feet to build their cars in either California or Nevada.

Read also: Faraday Future unveils their first production vehicle

The company had originally planned a 3 million square foot facility that was this year reduced to 650,000 square feet and now ultimately to zero. This announcement came with mixed reactions as the State of Nevada approved a package of tax incentives to bring Faraday Future to Nevada.

The company will keep the land in the Apex Industrial Park, which it paid $29.4 million for which is 930 acres and will hopefully be used for future production. The company is still looking to raise additional money to start production, so it doesn't come as much of a surprise that they are giving up this $1 billion building project.

Read also: Faraday Future's FF 91 beats Tesla's P90D at Pikes Peak

The good thing is that Faraday Future already has most of the equipment they need to build the cars, but now they just need a place to put all that equipment and to set it up. We're sure that's not a small task, especially if you ask someone like Elon Musk who's likely dealing with that challenge right now with the Model 3.

NEWS SOURCE:reviewjournal.com

Lana has a passion for technology and science. She spends her time looking for the latest and most interesting technology and science news. Her passion is in gadgets, wearables, and other cool and interesting applications of technology or science. She also spends her free time gaming in MMOs like World of Warcraft. She has prior experience covering technology for publications and breaking news. If she’s not doing either, you might just find her exploring the metaverse in VR. Lana wants to expand TweakTown’s coverage of mobile, wearables and gadgets while also bringing her experience with science and general tech to TweakTown. Her area of coverage is around science, technology, smartphones, wearables, and general neat gadgets. She hopes to one day be able to drive around in her self-driving car while she schedules an appointment for a SpaceX trip to the moon on her smartwatch.

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