Go Back   EcoModder Forum > EcoModding > Fossil Fuel Free
Register Now
 Register Now
 

Reply  Post New Thread
 
Submit Tools LinkBack Thread Tools
Old 11-07-2016, 02:20 PM   #1 (permalink)
PSmodder lurker
 
Join Date: Jan 2009
Location: Chino
Posts: 1,568
Thanks: 24
Thanked 861 Times in 496 Posts
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?

  Reply With Quote
Alt Today
Popular topics

Other popular topics in this forum...

   
Old 11-07-2016, 11:07 PM   #2 (permalink)
Master EcoModder
 
Christopher Jordan's Avatar
 
Join Date: Jan 2008
Location: Santa Cruz, CA.
Posts: 861

White Whale - '03 Chrysler Town & Country mini van all white
Thanks: 58
Thanked 43 Times in 38 Posts
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.
  Reply With Quote
Old 11-28-2016, 01:05 PM   #3 (permalink)
PSmodder lurker
 
Join Date: Jan 2009
Location: Chino
Posts: 1,568
Thanks: 24
Thanked 861 Times in 496 Posts
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

Last edited by botsapper; 11-28-2016 at 05:23 PM..
  Reply With Quote
Old 12-07-2016, 12:09 AM   #4 (permalink)
Master EcoModder
 
Christopher Jordan's Avatar
 
Join Date: Jan 2008
Location: Santa Cruz, CA.
Posts: 861

White Whale - '03 Chrysler Town & Country mini van all white
Thanks: 58
Thanked 43 Times in 38 Posts
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!
  Reply With Quote
Old 12-08-2016, 02:43 AM   #5 (permalink)
PSmodder lurker
 
Join Date: Jan 2009
Location: Chino
Posts: 1,568
Thanks: 24
Thanked 861 Times in 496 Posts
Quote:
Originally Posted by Christopher Jordan View Post
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.
  Reply With Quote
Old 12-10-2016, 04:08 AM   #6 (permalink)
Tesla Inside
 
RAV4 EV's Avatar
 
Join Date: Nov 2016
Location: Los Angeles
Posts: 19
Thanks: 3
Thanked 2 Times in 2 Posts
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 .
__________________
0.30 Cd
  Reply With Quote
Old 12-21-2016, 05:16 PM   #7 (permalink)
Master EcoModder
 
Christopher Jordan's Avatar
 
Join Date: Jan 2008
Location: Santa Cruz, CA.
Posts: 861

White Whale - '03 Chrysler Town & Country mini van all white
Thanks: 58
Thanked 43 Times in 38 Posts
Still advertising on Facebook. So is Elio. Seems Farraday and Elio are having a race!
  Reply With Quote
Old 01-01-2017, 11:05 PM   #8 (permalink)
Master EcoModder
 
Christopher Jordan's Avatar
 
Join Date: Jan 2008
Location: Santa Cruz, CA.
Posts: 861

White Whale - '03 Chrysler Town & Country mini van all white
Thanks: 58
Thanked 43 Times in 38 Posts
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.
  Reply With Quote
Old 01-14-2017, 07:09 PM   #9 (permalink)
Master EcoModder
 
Christopher Jordan's Avatar
 
Join Date: Jan 2008
Location: Santa Cruz, CA.
Posts: 861

White Whale - '03 Chrysler Town & Country mini van all white
Thanks: 58
Thanked 43 Times in 38 Posts
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.
  Reply With Quote
Old 01-14-2017, 11:08 PM   #10 (permalink)
PSmodder lurker
 
Join Date: Jan 2009
Location: Chino
Posts: 1,568
Thanks: 24
Thanked 861 Times in 496 Posts
Quote:
Originally Posted by Christopher Jordan View Post
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

  Reply With Quote
The Following User Says Thank You to botsapper For This Useful Post:
Christopher Jordan (01-15-2017)
Reply  Post New Thread


Thread Tools




Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2020, vBulletin Solutions Inc.
Content Relevant URLs by vBSEO 3.5.2
All content copyright EcoModder.com