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Faraday Future Abandons Las Vegas but is it Faraday Fraud?

Once they had the press conference where the “self-driving” car was actually driven by a guy hiding behind the tint, we should have known it was over. Something never smelled right, and despite the warnings, the media and the local government got bit by a fever that there would be a huge electric car plant in Las Vegas. Instead, the Las Vegas Review-Journal reports Faraday Future plans to purchase an existing building, somewhere.

Although the company claims they have the majority of the equipment necessary to build the EV, but that it now needs a place to store the equipment and set up the line (one assumes they will also need some working capital to pay for parts and start-up costs, as its unlikely any suppliers will be extending them credit).

Faraday today states that they “…are in the process of identifying a manufacturing facility that presents a faster path to start-of-production and aligns with future strategic options”, but it also doesn’t actually say the words “FF 91” in that statement either.

Two years ago the Governor pushed the state legislature to pass a $335-million incentive package for Faraday, including $215 million in tax breaks.

Nevada state Treasurer Dan Schwartz, however, argued against the deal. “I’m afraid it will never be financed and implode in the middle” of the project, leaving Nevada taxpayers on the hook for millions in state incentives.

 

Pace Lattin
Pace Lattin has been doing online media and marketing for over 20 years and has has earned the reputation of having a high standard of ethics and being an expert in both brand and direct response. Follow me on Facebook
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