Last month, a number of media reports in the United States reported that Faraday's most important project in the future, Nevada's $1 billion construction of a new factory, has been temporarily suspended. There is even news that Leroy's electric vehicle project, Faraday Future, has suspended construction of the Nevada plant, and the Nevada finance minister said "this is a Ponzi scheme." In response, the statement said that the media misunderstanding caused misunderstanding of the Faraday Future Nevada factory project. Nevada’s finance minister, Dan Schwartz, said in an interview: “This is a Ponzi scheme. The new company has never been able to produce a car and build a new factory in the desert. And got the investment of the mysterious Chinese rich."
Half a month later, the second factory, which was proposed to be built by Vallejo in Vallejo, California, cast a shadow over its prospects.
According to the Vallejo City Council’s disclosure yesterday, according to the application of the Palladian, the local city council has decided to extend the negotiation period with the Faraday for three months. According to local government disclosures in June this year, Faraday plans to build its second electric vehicle factory on Mare Island, Vallejo, California, covering 63.5 hectares. The two sides had previously conducted exclusive negotiations for six months, but the exclusion period has ended.
Faraday proposes to invest in a second car factory in California
Vallejo, which is an hour's drive north of San Francisco, has been facing a serious financial crisis in recent years. In 2008, it applied for government bankruptcy. Therefore, the city has great enthusiasm for the investment project of Faraday, and hopes that this factory project will drive the local economic recovery. Driving an hour south from Vallejo is Tesla's car factory in Fremont.
However, compared with the situation at the end of May this year, due to problems with the financial situation of the investor Jia Yueting, the prospects of the factory project of the company have been significantly different.
At the end of last year, Faraday signed an agreement with the Nevada state government and the North Las Vegas municipal government to invest $1 billion to build an electric vehicle factory in the APEX industrial park in the desert area of ​​northern Las Vegas, creating more than 4,000 local creations. Jobs. In order to attract investment, the Nevada government promised to provide Faraday with $215 million in tax relief and $120 million in infrastructure funding.
However, with LeTV's public recognition last month that it was facing a shortage of funds, the company also succumbed to the arrears of the construction company AECOM, which caused the factory to stop working. It has been suspected that LeTV's lack of sufficient funds for the Nevada Finance Minister Dan Swachtz is open. Sniper LeTV is a Ponzi scheme, and it is questioned that Jia Yueting cannot simultaneously promote multi-billion dollar investment projects.
To this end, Nevada Governor Brian Sandoval and North Las Vegas Mayor John Lee even issued a joint statement denounced Schwarzer, saying that Faraday has invested 120 million for this. Dollar funds should not be blamed.
But in fact, Jia Yueting's car dream is not only LeEco LeSEE project and Faraday. According to the documents, he also invested in another Silicon Valley electric car startup Lucid Motors (formerly known as ATIeva). Jia Yueting also mentioned this company in an interview explaining his own car.
The company was founded by former Tesla elder Xie Jiapeng. Many employees also came from Tesla, but after LeTV Holdings, Xie Jiapeng left last year. The company announced a $700 million auto plant project with the Governor of Arizona last month. It plans to start construction in the second quarter of next year and start production by the end of 2018.
In China, LeTV also has two automobile park projects with a total investment of more than 60 billion yuan in Zhejiang Moganshan and Tianjin. Among them, the Moganshan project will be tendered on December 9th.
Jia Yueting revealed in October this year that LeTV's own LeSee Pro supercar prototype has been built, and the first production car of Palladium will be held at the Consumer Electronics Show in Las Vegas on January 3 next year. Officially released on CES). The Financial Times commented that the new car to be released in January will be crucial for the future of Palladian.
LeEco previously announced that it has raised $600 million from Jia Yueting's classmates at Cheung Kong Graduate School of Business for LeEco Global and LeCco's overseas projects. The first phase of $300 million will be in place this month.
The French public relations department said that it will reply to Sina Technology's related consultations tomorrow.
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