North Las Vegas electric car maker Faraday puts brakes on Nevada plant. The popular Car Connection auto -blog released word of the Faraday Future North Las Vegas electric car plant being shelved for the time being, time travel not withstanding, no date was suggested for re-implementation of the Apex-site revival. While North Las Vegas Mayor John Lee puts on a great pro-business effort, he cannot over-come the financial woes of billionaire owner Jia Yeuting (aka: YT) or the protectionist rhetoric of the new administration. Albeit, the deal Nevada offered Faraday is in the spirit of employing 1000’s of Las Vegas residents, the results have not proved out beyond some dirt moving.
Was it geo-politics or cash flow that parked Faraday’s NLV plant?
While acres were cleared and permits discussed, the car maker slowed production and payments, eventually finding itself in a legal battle with an exposition design company hired to produce a CES-event in January. In the most recent Faraday article by Car Connection’s Richard Read, he sights a possibility of Bankruptcy on the $300 million debt. Could YT see an anti-electric auto agenda in the eyes of former Exxon CEO turned Secretary of State?
Is this be a wait and see chess match over currency values and international investment in the US?
Far from the geo-political spectrum, the auto enthusiast community has not been a twitter on Faraday’s designs. The original concept FFZERO1 was Batmobile exotic with promises of warp-speed 0-60 in 3 seconds on 1000 hp, and no price tag. The latest rendition ,shown at CES last month, looks like a squashed Chevy Volt.
With all the nervousness surround high-intensity lithium-ion batteries, perhaps Faraday is just taking a step back to avoid a SAMSUNG Note 7 release.
While we all wait for the next chapter in this saga… maybe Mayor Lee can offer Ford the now-level Apex lot, for the plant they had planned for Mexico.
Read more about Faraday Future’s future…
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