Summary: Work at Faraday Future's factory construction site has reportedly stopped
Development on Faraday Future's Nevada factory location seems to have ground to a halt. According to earlier reports, the electric vehicle startup has recently been severely behind on construction payments, risking the work stopping if payments were not brought up to date. In late October, Faraday Future's Ezekiel Wheeler told AutoblogGreen that "The business relationship between Faraday Future and (construction company) AECOM is strong and we remain committed to building our factory of the future in North Las Vegas", Now, according to Jalopnik and confirmed by AECOM, construction work has stopped at the 900-acre location for the billion-dollar factory.
As AECOM stated to Jalopnik: "At this time, Faraday Future is temporarily adjusting their construction schedule with plans to resume in early 2017. We remain fully committed to our client and our employees working on this project, and we look forward to the facility's successful delivery." AECOM says grading and foundation preparation work has been completed at the site. There is not yet an official statement from Faraday Future; the latest information from the company is in the form of video depicting the still-covered electric crossover on the move.
In last December, Faraday Future was given around $215 million in incentives from the state of Nevada. FF is partially backed by the Chinese investor Jia Yueting, whose own financials have suffered; as a result, FF's own financial stability has been questioned by Nevada treasurer Dan Schwartz.