Faraday Future And The State Of Nevada Have Officially Broken Up
It was a long time coming, but mercifully, it’s come to an endby Kirby, on
It was exciting at the start, but like every marriage that’s on the ropes, a tipping point happens that inevitably breaks it apart. That tipping point finally happened between Faraday Future and the state of Nevada after the automaker sent a letter to the Government’s Office of Economic Development to relinquish its status as a “qualified project” for the state. In simple terms, the relationship between the two, or whatever’s left of it, is officially over.
It is somewhat ironic that the letter sent by the Faraday Future accomplished more than the automaker’s actual project in the state. Not only did Faraday get to actually pay back the $16,200 incentive money it had received so far from the state, but it also prevented the government from wasting away the $620,000 it had put in a trust fund through tax funds to help fund the project. Essentially, the state of Nevada was able to cut its losses at no cost to its own coffers and that of all the local governments. Meanwhile, Faraday Future gets to move on from its disastrous ambitions and start over in California where its set up shop in an existing facility. It’s hard to reasonably come up with a happy ending to a story that’s littered with failed promises and broken ambition, but this split is probably the best thing that could have happened to the relationship between Faraday Future and Nevada. Now both entities can move forward without having to worry about what a waste this whole endeavor was.
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Best for all parties to move forward and not look back
Given how much of a mess Faraday Future was embroiled in, nobody would’ve been foolish enough to actually believe that it could still come through on its promise to build its proposed mega factory in Nevada. It was promising in the beginning, but a severe lack of cash flow turned the project on its head and it never got better from there. Construction stopped completely earlier this year, and the automaker packed its bags and went back to California.
It looks like this sad and disappointing partnership has reached its end
Fast forward to today and it looks like this sad and disappointing partnership has reached its end. Both the automaker and the state can move forward with their own businesses without having to worry about dealing with the headache that has become this project. Faraday can continue dreaming and hoping to build its cars from California while the state of Nevada can move on to other issues without losing so much as a dime from this failed venture.
I will say, though, that it is sad that it’s come to this. I never want to see an automaker face problems like the one Faraday is facing and will probably continue to face down the road. It’s a bad look for the business and it’s a waste of all the hard work put in by the people in the company. But things like this happen, especially when a company flies too close to the sun, thinking that it won’t get burned. That’s what happened by Faraday Future in its dealings with Nevada. It got too ambitious for its own good and its wings got burned even before it had a chance to unfurl them.
Lesson learned here, folks. Good thing that it’s finally and mercifully over.
Read our full review on the Faraday Future FF 91.