It seems FF will not be able to keep its promise of having an EV by and of 2017. The Nevada factory doesn't start yet, and to finish a building that has capable to make tens thousands take more than a year the many months to install equipment. Then many more months to make any car. Until the manufacture plant was start, nothing will come out of this Faraday Future company.
Another weird thing is just few months ago this company talk to a city in No Cal about building second factory plant there.
Quote:
Faraday Future’s Nevada Factory Hits Roadblock
Faraday Future, the California start-up electric carmaker financed by Chinese billionaire Jia Yueting, has ambitions — really, really big ambitions.
First, it wants to beat Tesla Motors in electric cars, and second, to accomplish that, it wants to build a $1 billion auto plant in North Las Vegas, about 400 miles south of Tesla’s giant Nevada battery factory.
The secretive company’s route to this success so far includes hiring top people from Ferrari, BMW and others, unveiling a 1,000 horsepower electric race car concept and winning the backing of Nevada’s governor to build the factory.
Quote:
“You can see where this leads,” Schwartz said in a phone interview with Bloomberg News. “His Internet company is successful, but that doesn’t generate the billions of dollars he’d need. Where’s he going to get the money?’’
For Schwartz, Jia and Faraday Future need to explain clearly how they plan to provide stable financing to pay for the factory.
His concern is the state’s significant incentives consisting of $215 million in tax credits and abatements, and $120 million worth of publicly financed infrastructure improvements.
Only when Faraday Future provides accurate financial due diligence will Schwartz support a state debt sale to fund the plant’s infrastructure.
Until then, the roadblock is still in place.
Another weird thing is just few months ago this company talk to a city in No Cal about building second factory plant there.
Quote:
Faraday Future’s Nevada Factory Hits Roadblock
Faraday Future, the California start-up electric carmaker financed by Chinese billionaire Jia Yueting, has ambitions — really, really big ambitions.
First, it wants to beat Tesla Motors in electric cars, and second, to accomplish that, it wants to build a $1 billion auto plant in North Las Vegas, about 400 miles south of Tesla’s giant Nevada battery factory.
The secretive company’s route to this success so far includes hiring top people from Ferrari, BMW and others, unveiling a 1,000 horsepower electric race car concept and winning the backing of Nevada’s governor to build the factory.
Quote:
“You can see where this leads,” Schwartz said in a phone interview with Bloomberg News. “His Internet company is successful, but that doesn’t generate the billions of dollars he’d need. Where’s he going to get the money?’’
For Schwartz, Jia and Faraday Future need to explain clearly how they plan to provide stable financing to pay for the factory.
His concern is the state’s significant incentives consisting of $215 million in tax credits and abatements, and $120 million worth of publicly financed infrastructure improvements.
Only when Faraday Future provides accurate financial due diligence will Schwartz support a state debt sale to fund the plant’s infrastructure.
Until then, the roadblock is still in place.
