Monday, July 10, 2017

Faraday Future Aborts Nevada Factory Plans

Troubled electric car maker Faraday Future has halted its plans to build a factory in Las Vegas, due to a cash crunch, according to a report from local Nevada news sources. According to the report, Faraday Future has decided to "put a hold on" its factory in Nevada, where it had planneds to spend $1 billion on creating a 3 million square foot megafactory that Faraday Future claimed would create more than 13,000 jobs in Nevada. Faraday Future had said it would also abort plans on building a factory in California in January. The cancelled effort in Nevada should be no surprise to followers of Faraday, which halted work in Las Vegas in November of last year when it failed to pay construction contractor AECOM for work on the factory. Image: Faraday Future's fancy vision of its Las Vegas megafactory.

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