Faraday Future will build auto assembly plant in North Las Vegas, but smaller that originally planed. Electric luxury car startup Faraday Future, one of several Chinese-funded companies is downsizing plans to build vehicles in the United States, according to the company and public officials.
Faraday, an affiliate of Beijing-based Leshi Internet Information and Technology Corp., founded as direct competition to Tesla Motors, also has changed its planned lineup of automobiles from seven to two models. Confirmation is not official yet, but the news came from two different sources, both with direct insight to the plans of the car maker.
Faraday still plans to build the larger plant in future
Faraday still plans to build the larger plant in the future, company announced in a statement, but timetable or even a hint about the possible dates were not given.
Faraday informed the city of North Las Vegas that construction of more than 60.000 square meters factory will start this year. City Manager said that site of a plant is the same but it was originally planned to be nearly five times larger.
The downsizing follows an acknowledgment last fall by the company’s founder, Chinese tech entrepreneur Jia Yueting, that the company’s global operations were overextended. Several executives have leaved the company last year, but Faraday is still hiring contractors to begin building the factory. Still firm date for completion is unknown yet.
“We remain committed to the State of Nevada and are continuing our $1 billion (6.9 billion yuan) investment in the region over the next few years,” Faraday said in the statement.
Company planned last year a lineup of seven electric vehicles, ranging from an ultra-luxury flagship to a tiny commuter car, but now just two models FF 91 and crossover called the FF 81 are planned for production. Rumor says, FF81 is pendant of Tesla’s Model X, and Nevada plant will produce up to 10,000 cars a year, and it will be open in 2019.
Faraday stopped work on the Nevada plant last fall. Several Faraday suppliers, including seat maker Futuris, have sued the company for nonpayment.