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Old 11-07-2016, 02:20 PM   #1 (permalink)
botsapper
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Faraday Future and LeEco draining quickly

A very ambitious autonomous electric vehicle company, Faraday Future's Le Eco, last year debut very futuristic designs at the 2016 CES. Looks like their grandiose plans doesn't have the financing to even bring out prototypes and vehicle production facilities. Their risky business model of using money from their Leshi company, China's version of Netflix, has already used over $1 billion/10 billion yuan in its early development but the fundraising has dried up to continue its expansion. The early promises of support from Nevada, a $335 million tax break for a billion dollar production facility is in jeopardy. They are already over 20 million dollars late in paying the construction companies and subcontractors. Ouch!

https://www.bloomberg.com/news/artic...runch-at-leeco

Ironic, Faraday Future's slogan, Can't Hear the Engine?

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