Yes, this announcement is very true. A representative from Faraday Future recently stated that they have halted the construction of their production factory in Nevada. Faraday Future is a startup company that procured Jia Yueting as it financer who is currently in substantial financial trouble; this fueled the speculation that Faraday Futures still have prevailing troubles.

Although a spokesmen stated that Jia Yueting’s financial woes will not impact the day to day activities of Faraday Future but they will still halt the construction of their apex production site in Nevada.

The reason behind this decision is the fact that their main financier is currently facing a financial predicament—they want to focus their resources in order to produce their flagship vehicle. This news has been greeted with a great deal of disappointment as the factory site would have spurred over 13,000 employment opportunities for the locals.

The factory itself would also help stabilize the economy by improving Nevada’s GDP and NNP. However, now it seems that this will not be possible as this project has been halted. Even though this project has been halted, it will not affect the Nevada’s public money as no infrastructure projects have been initiated till now.

Why exactly has Faraday Future decided to halt construction?

The driving force behind Faraday’s decision is the fact that their main financier is currently facing a financial crisis and because the company has decided to implement different strategic decisions.

These strategies are tailor-made to help cement Faraday Future as a leading a leader in user-ship personal mobility. User ship personal mobility is a term coined by a representative from Faraday Future, therefore people can only speculate whether is targeting a ride-sharing service.

This shift in strategy has raised many eyebrows as Faraday Future was poised to be the next generation of automobile vehicles but it seems that Faraday Future might have something else in store for everyone. At the same time, the long-term goals of Faraday Future were further questioned after Jia announced a reduction in their U.S operations.  According to solid sources, the Chinese courts have seized over $182 million of Jia’s assets, this means that Jia has lost a substantial amount of his finances which might have been used to finance the Faraday project.

The automobile industry is already one of the most competitive and lucrative industries in the market today and new startups can help set a new standard for the coming generation of automobiles. Even though Faraday Future’s history has been plagued with financial troubles, there is no doubt that their impeccable dedication will help them create a new perspective on the word mobility.

To learn more about the latest trends and news in the market simply call 800-903-4430 to get in touch with a representative from Engine World. We at Engine World take great pride in offering an array of services, some of these services include car engine replacement, replacement engines, used Japanese motors, Japanese replacement engines, low mileage Japanese engines, used Japanese motors, used transmissions for sale, used truck motors, replacement auto engines and much more!