Faraday Future Nevada Factory Construction Delayed, 2017 EV Deliveries At Risk

Posted: Nov 28 2016, 12:21pm CST | by , Updated: Nov 30 2016, 8:23pm CST, in News | Cars & Vehicles

 

Faraday Future Nevada Factory Construction Delayed, 2017 EV Deliveries at Risk
  • Faraday Future’s Plan of Building EVs is struck for a While now
 

Financing issues put the development project to a halt.

The construction on the Faraday Future’s Nevada EV plant has stopped for a moment. Our resources have told us that the halt in development has occurred due to lack of financing that were needed to build the plant in first place.

The stopping of construction of the plant will directly put the delivery of Electric vehicles to become late as well. According to the Financial Times, this can be a big risk for the company. 

The Chinese company which is backed by LeEco is due to pay bills of millions of dollars to its main contractor Aecom. Till the bills are not cleared, Faraday Future will not be able to resume its work at the facilitation.

The company has released the word that the production at construction site will begin in year 2017 and vehicles will start building over there too. However the stoppage for a few weeks can drastically effect any business as well. 

The main contractor and builder Aecom did not confirm if Faraday Future has missed paying any kind of bills. The company announced earlier that they are committed to the project and resume working with Faraday Future in early 2017. This statement shows that things will be managed shortly and the problems is not really big. 

Faraday Future has a number of insane projects to showcase and have a great number of innovative ideas too. The company recently showcased the 1000bhp FFZero1.

However the vehicle will be extraordinarily expensive for sure due to its design and features. The important thing in that FF is building an EV that will be a competitor of Tesla EVs. The EV is supposed to be unveiled in year 2017 by company. 

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