Electric carmaker Faraday Future halts work on Nevada plant

Faraday Future Plant Rendering

It was just five months ago that FF was claiming that it was finally restarting construction of its proposed factory in North Las Vegas, nearly 11 months after construction was first halted amid the company's ongoing financial woes.

But, North Las Vegas city leaders said they were confident that Faraday would eventually finish the facility.

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.

But construction had yet to begin when the company made its Monday announcement.

The Muppets: Steve Whitmire Departs After Nearly 40 Years
He was picked by Henson's son, Brian, to take over the character, according to the online magazine Kill Screen . Steve Whitmire, who has performed as Kermit the Frog since 1990, is no longer working with the Muppets .

"Faraday has played an important part by investing nearly $50 million in land improvements and critical design and engineering work at Apex Industrial Park".

Gov. Brian Sandoval and state lawmakers approved $215 million in tax breaks and $120 million in infrastructure upgrades for the project at a special session of the Legislature in December 2015. "We remain committed to the Apex site in Las Vegas for long-term vehicle manufacturing", Stefan Krause, who's been Faraday Future's chief financial officer for the past four months, said in a statement to the Independent.

"Faraday has played an important part by investing nearly $50 million in land improvements and critical design and engineering work at Apex Industrial Park, creating a momentum that has attracted multiple Fortune 500 companies hiring 7,000 Nevadans and investing more than $1 billion that has stabilized and transformed our community", Lee said. But plans to produce the auto in Nevada have been put on hold, the Los Angeles-based company said in a statement. Assets belonging to him and and his wide-ranging technology company, LeEco, have been frozen by courts in China and elsewhere in the face of unpaid loans.

Related News:

  • Dash cam footage of dramatic Live PD crash released

    Dash cam footage of dramatic Live PD crash released

    Deputies on scene said after the crash, Martin got out of the vehicle with the baby and tried to fight the responding deputy. Moments later, Mastrianni could be seen picking up the child to get the little one some attention. "It's disbelief.
    President Trump Asserts Commitment To NATO Defense Policy In Poland

    President Trump Asserts Commitment To NATO Defense Policy In Poland

    The U.S. leader's first face-to-face meeting Friday with his Russian counterpart, Vladimir Putin, is also highly anticipated. World leaders and protesters are in Hamburg, Germany, the site of this week's G-20 gathering.
    Marks & Spencer share price: United Kingdom  sales dip in Q1

    Marks & Spencer share price: United Kingdom sales dip in Q1

    Consistent with the plans we set out in November 2016, we have now closed 28 of 53 stores in the owned markets we are exiting. In the quarter, Clothing & Home revenues dropped 0.5 percent on a reported basis and 1.2 percent on a like-for-like basis.
  • Israeli Labour Party elects political newcomer Avi Gabbay

    Israeli Labour Party elects political newcomer Avi Gabbay

    Gabbay came to Labor after being among the founders of the Kulanu party led by Minster of Finance Moshe Kahlon. "Tomorrow, on Tuesday, the journey toward the election to change the Israeli government begins", he said.
    Saudi Aramco to invest $300B to oil production

    Saudi Aramco to invest $300B to oil production

    A shortage of new discoveries and paltry investment could combine to reduce the global oil supply, Saudi Aramco's chief executive said Monday, July 10.
    Leeds confirm deal agreed with Huesca for Samuel Saiz

    Leeds confirm deal agreed with Huesca for Samuel Saiz

    Leeds announced an agreement for Saiz in the afternoon and just 20 minutes later Huesca , after wishing the Spaniard well in England, moved for Gallar.
  • Man charged with 'execution-style' shooting of sleeping boy, 15

    Man charged with 'execution-style' shooting of sleeping boy, 15

    It was seen arriving in the area about 15 minutes before the shooting and left in a northwest direction shortly after. Conrad Craig, 26, was arrested by heavily armed police at an address in Seven Hills, New South Wales, Australia.

    Amazon Prime Day 2017

    Greetings, Arsians! The Dealmaster is here again to bring you the latest deals courtesy of our partners at TechBargains . If you buy at least 15-20 items per year on Amazon, it's likely worth it just for the free two-day shipping.
    Trump administration delays startup visa rules

    Trump administration delays startup visa rules

    A notice the department issued indicates that in the interim, the administration will propose rescinding the program. The program was scheduled to open next week, but the Trump administration will delay it until at least March 2018.
  • Reasons You Shouldn't Shop on Amazon Prime Day

    Reasons You Shouldn't Shop on Amazon Prime Day

    Amazon (NASDAQ: AMZN ) kicks off its annual Prime Day celebration at 9 PM EST tonight and will include some steep Echo discounts. Go to the app's settings menu, click notifications and toggle alerts on for "Your Watched and Waitlisted Deals".
    Restraining Order Slapped Against Rob Kardashian

    Restraining Order Slapped Against Rob Kardashian

    Rob Kardashian "regrets" his social media outburst in which he posted explicit photographs of his former flame Blac Chyna . She appeared with celebrity lawyer Lisa Bloom and discussed the amount of betrayal and embarrassment she felt.
    Trump discusses N. Korea 'menace' with Asian allies

    Trump discusses N. Korea 'menace' with Asian allies

    The explanation from Beijing showed no traces of the giddy mood from the US-China summit in April. Analysts said the test showed the missile could reach much of the USA state of Alaska.


Most liked

Rooney: Everton Is Not A Retirement Home To Me
I want to be part of it and hopefully part of a successful Everton team. I was excited this morning to go in and meet the lads and get going.

Michael Pachter Believes That The PlayStation 5 Isn't Too Far Off
The console-maker expects to sell 18 million PlayStation 4 units and bring the total install base to 78 million units. However, it's possible the 4K TV market will mature before 2019. "That is a 2019 or 2020 but probably 2019", he said.

255 people survived Grenfell Tower inferno, 80 died, say police
The number of people suspected to have died has steadily risen since the blaze gutted the 24-storey tower on June 14. Majority of the residents (255) successfully escaped the fire, according to the police.

Donald Trump defends Ivanka's role at G20 with tweet about Chelsea Clinton
Appearing on conservative talk show Fox and Friends in late June, Ms Trump appeared to give mixed messages about her role. She had been invited to attend by the president, said her spokeswoman, Stephanie Grisham.

Seattle income tax proposed by Seattle City Council
They did approve an income tax in 1932, but the state Supreme Court ruled the measure unconstitutional the following year. State law blocks a county or city from levying a tax on "net" income, although net income is not defined in the statute.

Trump keeps it friendly with Xi at G20
The Japanese leader said he wanted to "demonstrate the robust partnership as well as the bonds" between Japan and the U.S. on the issue.

Whole Foods Had A Chicken / Tuna Mix-Up & Jessica Simpson Was Fkn Ready
You know, 'cause a lot of people eat tuna, just like a lot of people eat chicken. "Oh...." Simpson replied. "Oh, I understand now. Fans of the singer - who, as it happens, is also celebrating her 37th birthday on Monday - are here for her coy comeback.

Madras HC's stay on Centre's notification on cattle sale to continue: SC
The Court recorded the submissions of the ASG and proceeded to dispose of the case. "In the above view, these petitions need not be retained on board".

Stark County officer shot responding to domestic call; arrest made
Probst fired several shots at officers, striking one officer, according to a press release from the Stark County Sheriff's Office. White underwent surgery and was in stable condition Monday, but he faces more procedures and a long road ahead, police said.

Gopalkrishna Gandhi to be nominee for VP
The term of present incumbent Hamid Ansari, who has held the post for two successive spells, comes to an end on August 10. The Opposition, however, expects that Gandhi's candidature might help in getting back Nitish Kumar's support.

'Jersey Shore' Cast Filming Around New Jersey: Gym, Tan, Reunion?
On social media, Sorrentino seemingly confirmed the news by sharing an article and telling fans, "We have a situation ". Yep, it's looking like Jersey Shore is getting a reunion... and we're actually quite excited about it.

Ubuntu is now available for download on the Windows Store
This year the surprise continued by extending its Linux love to SUSE and Fedora distributions as well. Restart your computer and welcome to this weird world where Microsoft and Linux work harmoniously.

Global Automotive Rear view mirror Market: NIPPON, Bayer AG and Kansai
The global Beach Bikes market report will provide significant and reliable information on the market clearly in structured format. The competitive landscape of the Heated Glass market profiles the key players participating in the global business space.

Google readies its UPI payment before Whatsapp
So far, private players have been partnering with single banks to offer UPI payments. But Google might be the first global company to launch a UPI-based payment system.

State of Origin: Billy Slater cleared to play Maroons in decider
But knowing Cameron and his defensive traits, I am sure he will be looking forward to that challenge", Walters said. Queensland will hope to keep their dynasty alive on Wednesday night and farewell Thurston on a winning note.