Jia Yueting Shows New Faraday Future Plant Video Online, Claims 'Future Is Unfolding'
Dou Shicong
/SOURCE : Yicai
Jia Yueting Shows New Faraday Future Plant Video Online, Claims 'Future Is Unfolding'

(Yicai Global) Aug. 17 -- Jia Yueting, former chairman of the cash-strapped Chinese conglomerate LeEco, a subsidiary of Leshi Internet Information and Technology Corp. [SHE:300104], recently published a video clip of the new plant of his electric car developer, Faraday Future, in California, the US, on China's popular microblogging site Weibo. Construction of the new factory is in full swing and the "future is unfolding," Jia claimed.

The video starts with an overview of the plant, and then a driver drives Faraday's inaugural model, FF 91, inside the workshop. It also shows staff painting the FF logo on the wall. It ends with a group photo of all members of the FF team.

The clip indicates exterior decoration has already started at the plant, and the workshop has been cleaned up, but no equipment has been installed.

Jia confirmed on Aug. 7 that Faraday Future would build its new plant at the Sequoia National Park, California, the US. The 92,900-square-meter plant is built on the site of a tire production base. The site was left idle since 2001.

The electric car startup hopes that it will be able to produce 10,000 cars and create 1,300 jobs by 2019.

The firm was founded in Gardner, California, in 2015, and Jia is one of its major investors. Its inaugural vehicle, FF 91, debuted at the Consumer Electronics Show (CES) early this year.

Originally, the model was slated for mass production next year. However, Jia Yueting went to the US last month to oversee its development after LeEco and other Leshi subsidiaries run into financial troubles. The cash crunch also led to FF aborting its USD1 billion Nevada factory plan on July 11.

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Keywords: Jia Yueting , US , Electric Vehicle , Supercar , LEECO