National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Faraday Future Resumes Nevada Factory – Kind Of
The on-again, off-again issues with Faraday Future’s Nevada plant seem to be on again, but on a smaller scale. Rather than moving forward on its $1 billion, 3-million-square-foot factory, the company is, instead, focused on downsizing to what it calls “Phase 2 of Stage 1,” and building a smaller facility to begin production of its first electric vehicle as soon as possible. Stage 2 will involve construction of 3 million square feet, but there is no Stage 2 timetable.
However, as reported earlier, some Nevada officials are skeptical of the company’s promises. In recent reports, FF’s main investor, Jia Yueting, seemed to imply that financing is not yet in place to begin the factory, as well as the car, the FF91. Additionally, construction was halted on the plant in North Las Vegas, due to general contractor AECOM’s notice of intent to stop work, because of FF falling behind on payments.
Subscribe to Connect Daily National
For comments, questions or concerns, please contact Amy Sorter
