Faraday Future gives up on its $1 billion EV factory, says it’s looking for something else - Sensationalist Headlines

[QUOTE]After months of financial difficulties stalling the project, electric vehicle startup Faraday Future issued a statement today announcing that they are abandoning their $1 billion EV factory in Nevada… for now. As you would expect, they are not actually saying that they are “abandoning” the factory but putting “a hold” on it – though it’s all the same when you read between the lines. [QUOTE]“We have decided to put a hold on our factory at the Apex site in North Las Vegas. We remain committed to the Apex site in Las Vegas for long-term vehicle manufacturing. We at Faraday Future are significantly shifting our business strategy to position the company as the leader in user-ship personal mobility — a vehicle usage model that reimagines the way users access mobility. As a result of this shift in direction, we are in the final stages of confirming a new manufacturing facility that presents a faster path to start-of-production and aligns with future strategic options.” [/QUOTE] [/QUOTE] [url]https://electrek.co/2017/07/10/faraday-future-ev-factory-2/[/url] A bit of a shame since FF seemed like an interesting company, but they seemed to burn through cash and screw up every PR event. The FF91 was an interesting car. Saw this coming for a long time.

FF seemed always to be vaporware especially since they keep limping between owners. their tech always seems too lofty and too bleeding edge. they build pretty cool concept cars though [editline]10th July 2017[/editline] [quote] We at Faraday Future are significantly shifting our business strategy to position the company as the leader in user-ship personal mobility — a vehicle usage model that reimagines the way users access mobility. As a result of this shift in direction, we are in the final stages of confirming a new manufacturing facility that presents a faster path to start-of-production and aligns with future strategic options.”[/quote] you make and sell cars, no matter how you spin it, today to make cars you have to sell them to somebody. reimagining user accessability is far in the future given current liability laws and the current way people use and own vehicles

FF was always nothing more than sketchy vaporware. If you want some other EV companies to pay attention to, watch Rimac and Lucid. (Lucid might also be vaporware, but less-so than FF ever was)

Why is it vaporwave?

[QUOTE=gokiyono;52455308]Why is it vaporwave?[/QUOTE] Questionable management, questionable funding, questionable business plan, outrageous promises, hilariously bad unveiling, etc, etc. Tesla became what it is because of a 3 step process. FF wanted to skip to step 3, and are failing at it. [editline]10th July 2017[/editline] IIRC Tesla bought it's first factory for 20-30 million dollars. A stroke of luck from the collapse of NUMMI. FF seems to have been shoving a lot of money into a lot of promises. They tried to go balls deep into being a fully operational car manufacturer when they should've started slowly. Look at Rimac. Rimac made 8 cars. 8 great cars. They are slowly building popularity (now thanks to Richard Hammond almost dying in one). They want to build more cars now. They're doing it right. Just because you can, doesn't mean you should. You sometimes need a slow ramp up. They should've used that money to make a compelling low-volume car like Tesla and Rimac did. [editline]10th July 2017[/editline] Actually, Tesla's first factory was probably cheaper than that if you consider the one they hand-built the Roadster in.

Is it weird that when I saw Faraday I though of ElectronVolts instead of Electric Cars?

[QUOTE=OvB;52454977]FF was always nothing more than sketchy vaporware. If you want some other EV companies to pay attention to, watch Rimac and Lucid. (Lucid might also be vaporware, but less-so than FF ever was)[/QUOTE] Wouldn't be surprised if it turned out that the test mule they demoed to the press was actually using a Tesla drivetrain.

I wouldn't be surprised if it was a scam and some stakeholders where embezzling.

[QUOTE=OvB;52454977]FF was always nothing more than sketchy vaporware. If you want some other EV companies to pay attention to, watch Rimac and Lucid. (Lucid might also be vaporware, but less-so than FF ever was)[/QUOTE] Lucid is also funded by LeEco but they seem to be utilizing the money better.