Faraday Future sells land in Nevada for $40 million

Faraday Future sells land in Nevada for $40 million

March 22, 2019 0 By autotimesnews

The company is working to implement its bold plan for the construction of a production site, which will require $ 1 billion. He was offered back in 2017, but then the plan was constantly postponed due to financial problems. The plant is expected to 13,000 jobs. For 20 years, about 760 million tax deductions will be allocated.

In this regard, the company intends to sell 182 square meters. km of land in Nevada. The cost of the site is 40 million dollars. “The sale is the result of continuous optimization of the Faraday Future business strategy,” the company notes.

Faraday Future intends to compete with Tesla in the segment of all-electric models. However, internal problems prevent the launch of even the first production model – the FF 91 crossover.

The latest news from the Faraday Future came at the end of December 2018. Then it was reported that the company entered into an agreement with the Chinese company Evergrande Health, which will provide it with additional funding. It is believed that it saved the company from inevitable collapse, but it still needs new investments to stay afloat.