Tuesday, October 25, 2016

Faraday Future Misses Payments To AECOM

Los Angeles-based Faraday Future, the mysterious electric automobile developer backed by a Chinese entrepreneur, has apparently missed a $21M payment to construction contractor AECOM, involving a deposit to cover materials and subcontractors. According to a report from AutoNews, a letter was sent by AECOM over the missed payment, which it says may put work on the company's $1 billion plant in Nevada to a "grinding halt". Faraday Future--which has yet to unveil its vehicles--announced plans for its billion dollar Vegas plant in April.

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