Faraday Future stops building Nevada factory

Stefan Krause, Faraday Future's CFO, quoted in an article by the Nevada Independent:

“We have decided to put a hold on our factory at the Apex site in North Las Vegas. We remain committed to the Apex site in Las Vegas for long-term vehicle manufacturing.

We at Faraday Future are significantly shifting our business strategy to position the company as the leader in user-ship personal mobility — a vehicle usage model that reimagines the way users access mobility. As a result of this shift in direction, we are in the final stages of confirming a new manufacturing facility that presents a faster path to start-of-production and aligns with future strategic options.”

Krause's statement is full of vague buzzwords such as 'user-ship personal mobility' with no substance behind them, and the firm's commitment to 'long-term vehicle manufacturing' is a nice euphemism for the minuscule chance that it will ever put a vehicle into mass production. The death knell is sounding for this vapourware peddling company.