Home Electric Cars Faraday Future leases California factory

Faraday Future leases California factory

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Faraday Future, the competitor to Tesla, if you can truly call them that, is facing cash problems. But in order to keep their dreams alive, they are finding every cost saving measure that they can find. Firstly, they cancelled their plan to build a large factory, and secondly, they decided to lease a former Pirelli factory in California according to a report by The Verge.

The electric car company is finding difficulty in the area of cash when its main investor, LeEco, a Chinese technology firm is facing cash problems itself in China. That was why they cancelled their plans to build a factory in Nevada and opted to lease out space in California instead.

The Faraday Future team has begun prepping the factory ready on site to get things set before beginning anything. Hopefully, the good folks over at Faraday Future will be able to get themselves out of their cash problems and begin production.