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Faraday Future's future compromised?

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e-FTW

New electron smell
Aug 23, 2015
3,363
3,269
San Francisco, CA
http://jalopnik.com/nevada-official-claims-that-the-chinese-billionaire-beh-1789426896

'“It’s clear Mr. Jia doesn’t have any money,” Nevada State Treasurer Dan Schwarz recently said of Jia Yueting, the tech mogul behind the mysterious Silicon Valley car startup Faraday Future. This does not look good.
[...]
Schwartz said the factory construction stopped earlier last week and he believed the reason was no payment had been received from Faraday Future.'
 
Buy what exactly? There is no manufacturing plant, just a group of employees who likely are looking for jobs right now. And I doubt they have any valuable patents given how young the company is. FF appears to be vanishing into thin air...

One of the FF investors is LeEco. If it comes to it FF would likely be merged with their other ventures such as Lucid and LeSee. FF going away does not change a thing (other than perhaps less jobs in USA and more in China).
 
Faraway Future and Lurid Motors... throwing around some up-front cash to hire away talent from other automakers, issuing press releases, promising battery breakthroughs, and hand-building a prototype, by themselves, don't guarantee success. Even Elon admitted that making cars is very hard.
 
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Buy what exactly? There is no manufacturing plant, just a group of employees who likely are looking for jobs right now. And I doubt they have any valuable patents given how young the company is. FF appears to be vanishing into thin air...
The real estate, though admittedly there is no need to rush into any such transactions at this point when all the hard work lies ahead (plant buildout).