Tesla’s main competitor decided not to build a plant in the US

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In 2015, Faraday Future, which for a long time was considered the main competitor of Tesla Ilona Mask, planned to invest more than a billion dollars in building a plant in the US – for this, the company bought 364 hectares of land in the Las Vegas area. After almost four years, the Chinese car manufacturer put this site up for sale, although it planned to use it for a new plant.

The site is estimated at 40 million dollars, according to the South China Morning Post. The works on it were curtailed in 2017: then Faraday Future suspended construction due to financial problems of the company LeEco, which is the main investor of the car manufacturer. Nevertheless, a solution was found – now Faraday Future is based on the closed tire factory Pirelli in California.

It was at the American plant that the Chinese corporation planned to produce its first electric car FF91. Initially, the manufacturer wanted to make the first batch in 2018, but something went wrong – more precisely, numerous trials and debts of the founder of Faraday Future were to blame. At the same time, the company attracted the last round of investments last year – it agreed with the Chinese holding Evergrande Health. But even here everything did not go smoothly: after the Faraday Future received $ 800 million from 2 billion investments, she immediately asked for the remaining amount, although under the contract she had to receive money within two years. As a result, the investor terminated the deal, and the manufacturer of electric vehicles was left without raised funds.

When Faraday Future did not have serious financing problems, many suggested that the company would be able to compete with Tesla. A few years ago, the employees of Ilona Mask gladly transferred to the Faraday Future, but now engineers who recently worked at FF go to work at Tesla.

zavvod-576596906 Auto  Tesla's main competitor decided not to build a plant in the US

It seems that the Faraday Future electric car will not be available, which is a pity, because the car shown by the company at CES could have become a good competitor to Tesla. Even in spite of the fact that the presentation didn’t go completely smoothly, the car’s characteristics significantly exceeded the capabilities of the new Tesla products. If you have something to say about this news – feel free to write in the comments.

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