[Steverino]

“This is a Ponzi scheme,” Nevada State Treasurer Dan Schwartz said in an interview Tuesday. “You have a new company that has never built a car, building a new plant in the middle of the desert, financed by a mysterious Chinese billionaire. At some point, as with Bernie Madoff, the game ends.”

When they missed contractor payments earlier this month, I guess that was a CEL on the dash...


http://fortune.com/2016/11/15/faraday-future-factory-electric-car/

 

[llninja]

That's not good. I was getting excited about the thought of multiple different platforms coming out with the same basic parts. But I hate when the Chinese get involved.

 

[Steverino]

That's not good. I was getting excited about the thought of multiple different platforms coming out with the same basic parts. But I hate when the Chinese get involved.

They violated one of your rules, "If you don't have the money, don't buy it."

Also, they were not frugal. Something like 1.5 billion spent and all they have is some desert dirt? They should have spent the money on Tesla instead. Or a really awesome party.

 

[llninja]

They violated one of your rules, "If you don't have the money, don't buy it."

Also, they were not frugal. Something like 1.5 billion spent and all they have is some desert dirt? They should have spent the money on Tesla instead. Or a really awesome party.

True. I wonder how many EV CR companies will come and go. Let's see there's Fister Karma, Think, anybody else?

 

[Barry]

That's too bad, but I don't think that exotic supercar is really what anybody needs. Definitely not a car for the people.

 

[hvacman]

I wonder if Peter Savagian is having second thoughts on his jump:

Savagian jumps to Faraday Future

 

[llninja]

That's too bad, but I don't think that exotic supercar is really what anybody needs. Definitely not a car for the people.

You realize the exotic supercar was just to showcase their technology. The intent was to come out with a whole lineup of cars, first of which was probably an awd CUV/SUV that we've been begging GM to build.