Plans for the $1 billion electric car plant to be built at the Apex Industrial site were scrapped by Faraday Future Monday. According to their CFO Stefan Krause, the decision was made due to a “shift in business strategy.”
Heidi spoke with Nevada State Treasurer Dan Schwartz, who consistently opposed the “corporate welfare” program that Governor Sandoval allowed Faraday to use in order for Faraday to select Las Vegas as their future site. Schwartz claims that with the withdraw, the state will stand to lose approximately $70 million to $175 million from all investments to date.
Of course, Heidi points out that since Faraday still has not even built a production car, how could they even be considered a credible company?