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?
https://www.youtube.com/watch?v=MhJeYC8mhoQ

Just read that financial news on Gas 2. Surprising. I just got my 2nd Chinese scooter and I sure hope that company does not follow Faraday.

Faraday Future has no future
 

Billionaire Jia Yueting has no money for the Silicon Calley autonomous car startup Faraday Friday. Luckily the $335 million tax credits for a multi-billion dollar factory in North Las Vegas has not issued bonds on the Nevada taxpayers, but initial building contractors have not been paid.
Outlook bleak for LeEco's Nevada electric vehicle plant - Business - Chinadaily.com.cn

Confusing. I get ads and news on Facebook daily. No hint about trouble of any kind. Today's cheery news: On Jan. 3rd, 2017, we reveal our first production vehicle.

I don't know what to make of this!

Faraday Future and its supporters are still committed and hanging on.

Faraday Future, wannabe Tesla rival, gets a reprieve in Bay Area - San Francisco Chronicle

Model X rival.
https://www.youtube.com/watch?v=4Hnmkjfuscs

Well that is interesting. Last I herd about this company things were placed on 'hold'. I'm a bit surprised things have not gone so well for them. I thought a bunch of these super billionaire start ups would pop around :).

Still advertising on Facebook. So is Elio. Seems Farraday and Elio are having a race!

Happy New Year! Email today from a Los Angeles office. Curiouser and curiouser:

THE WAIT IS ALMOST OVER
Soon, you will be able to witness the global debut of our first-ever production vehicle live on January 3rd, 2017 at 6pm PST / 9pm EST. Experience our CES 2017 reveal in real time by tuning in to the official FF.com live stream, our Facebook page, or on our YouTube channel.

News today FWIW: Struggling LeEco gets $2.4 billion investment lifeline from Chinese real estate company
Other news is that China is selling more EVs than the rest of the world countries combined.

They desperately need the money to pay their $300 million debt to finish their $1 billion factory. They already have 60,000 $5K reservations, for their (previously estimated $100-$200K) now $300,000 FF-91s.

Tesla Motors Inc (TSLA): Faraday Future to Cost More Than Tesla Motors Model X