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Faraday Future is selling its 900 acres of land in Nevada for $40 million

By Shawn Knight · 6 replies
Mar 14, 2019
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  1. The chances of Faraday Future’s FF 91 electric vehicle ever finding a home in your garage are looking less likely with each passing year.

    The struggling Chinese carmaker in 2015 purchased 900 acres of land in Nevada with the intent of building a $1 billion manufacturing facility. The company fell on hard times, however, and put those plans on ice in mid-2017. Now, it’s looking to sell the land.

    The South China Morning Post, citing an advertisement posted on Faraday Future’s WeChat account, notes that the automaker has put the land up for sale for $40 million. The tough decision reportedly comes as a result of Faraday Future’s intent to shift production of the FF 91 luxury vehicle to a manufacturing plant in Hanford, California.

    Faraday Future said 700 of the 900 acres have been fully graded for industry use.

    Faraday’s first wave of cars was expected last year but production hasn’t even started as lawsuits, unpaid debt and other disputes have hamstrung progress. Founder Jia Yueting was even reportedly placed on China’s blacklist of debt defaulters after failing to repay $113 million to two securities companies.

    Lead image courtesy Bloomberg

    Permalink to story.

  2. toooooot

    toooooot TS Evangelist Posts: 769   +377

    If you dont want huge gas giants to be your enemies, dont build cars that dont use gasoline, built cars that use lots of gasoline!
    This advice is free and faraday is allowed to take it.
  3. Wessell Urdata

    Wessell Urdata TS Booster Posts: 47   +67

    Excuse me what
  4. Theinsanegamer

    Theinsanegamer TS Evangelist Posts: 1,529   +1,739

    What is this conspiracy garbage?

    Let me give some PROPER advice:

    If you dont want your business to fail, pay your debts on time!
    Wessell Urdata likes this.
  5. captaincranky

    captaincranky TechSpot Addict Posts: 14,828   +3,921

    Hey, if Faraday didn't want its business to fail, they should have had it zoned as a spaceport. Hey, it's just a few clicks to Area 51, and they're a' comin' soon.

    We can send Elon Musk out to meet them. Perhaps he can convince any aliens landing at Faraday, to fund a hyperloop to Rosewell, New Mexico.

    In all seriousness, prima facia, this looks like it was another Chinese scam to suck money out of the American economy. Even if that wasn't the original plan, they sure accidentally made a bang up job of it.
    Last edited: Mar 15, 2019
  6. Faraday Future got into luxury EV scene way too late. They will eventually implode on themselves.

    Tesla still holds the crown for both performance and luxury EVs. No other manufacturer with a road-ready EV has anything close.
  7. toooooot

    toooooot TS Evangelist Posts: 769   +377

    Faraday looks cooler though. Were they both priced similarly and offered comparable mileage, I d probably pick fara.

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