Faraday Future Continues Production, State Officials Invest $160 Million

Feb 21, 2017 06:30 PM EST | Leian N.

News surrounding the planned production of the Faraday Future had been positive and negative the next. In fact, executives have unveiled that the brand is experiencing financial troubles in the implementation of its production plant for the model. However, the local government seemed to be in favor of pushing the project through as they recently invested $160 million in its factory. Will the model see the light of day?

At first, the automakers of the Faraday Future experienced financial and legal troubles. These troubles were made known by the automakers during CES last month, while the announcement that the creation of the vehicle production factory delay was this month. Despite the major setbacks of the electric vehicle's creation, the local government of Nevada invested $140 million in the factory, reported Electrek.

According to the head of the governor's office of economic development, Steve Hill, the production process has been significantly changed since the investment. Instead of creating the overly large factory, the Faraday Future will be created in phases and will break ground this spring on a 650000 square foot factory. The said factory will be open by 2017 and can generate 12,000 units of the vehicle.

On top of which, The Verge reported that the automakers are soliciting five bids from the top US international contractors after they announced that the production was $21 million short. As announced by a spokesperson for the company, the manufacturing project is a huge feat that they would need to proceed with one step at a time. In fact, others speculate that the makers did not plan the process properly since they wished to hasten the production of the FF91.

At present, the Faraday Future is in its Phase 2 of the development process. In fact, the top investor in the project, Jia Yueting, already announced that everything is ready but the funding results. Will the added investments by the local government hasten the production process? Will the model be released in 2020?

See Now: OnePlus 6: How Different Will It Be From OnePlus 5?

© 2021 Auto World News, All rights reserved. Do not reproduce without permission.
Get the Most Popular Autoworld Stories in a Weekly Newsletter

Join the Conversation

Real Time Analytics