Faraday Future Selling 900 Acres Of Land In Nevada For $40 Million

Faraday Future is looking to sell the 900 acres of land it purchased in Nevada as part of its bold plan to construct a $1 billion manufacturing facility.

For a brief period of time, it appeared as though Faraday Future was on track to establish itself as a legitimate rival to Tesla. However, a seemingly never-ending spate of internal problems has prevented the electric start-up from completing development of its first production model, the FF 91 SUV.

The company intended on constructing its $1 billion factory in Nevada to build the FF 91. The facility would have generated 13,000 direct and indirect jobs and generated roughly $760 million in tax revenue over 20 years. However, these plans were delayed in 2017 and the company is now looking to off-load the huge slab of land.

Also Read: Faraday Future Co-Founder Quits, Calls Company “Effectively Insolvent”

The South China Morning Post was the first publication to discover the sale, stumbling across an advertisement on Faraday Future’s WeChat account. The company is looking to sell the land for $40 million.

“The parcel is partially improved, and 700 acres have been fully graded for industry use. The sale is the result of the ongoing optimization of business strategies at FF,” the advertisement reads.

The last we heard from Faraday Future was at the end of December 2018. The news were that the company had reached an agreement with China’s Evergrande Health that allows it to look for new financing. It is thought that this agreement saved the company from imminent collapse, but it still needs to attract new investment to stay afloat. And that billion U.S. plant is, naturally, no longer in the picture.

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  • carsmofo

    Too bad this project did not go far. I’ve always loved the FF 91 futuristic design.

  • Mr. EP9

    How long is this saga going to be dragged out? I feel like this company should have died some time ago,

  • Patrick Bong

    At this point, who would buy this car even if it made it into production? No one would have any confidence in the brand. Pretty sure this company only exists now to funnel money out of China, launder money, and other shady money related things. I don’t think there are actual plans to produce anything anymore.

    • Mr. EP9

      Pretty much.

  • Nick Hebert

    More like Farewell Failure. They are too far behind at this point to climb out and rise above. The dinosaurs have started moving off of their laurels. They’ll be lucky if someone buys them for their IP.

  • kachuks

    Smoke and mirrors from the start.

  • Alduin

    Faraday Failure. Up in smoke,smoke and mirrors.

  • S3XY

    Faraway Future

    • Mike anonymous

      (lol) Ok S3XY, you get this one… +1

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