A car company is in the early stages of building one of the largest structures the world has ever seen. The structure will have a base that encompasses more than 700 acres, contain more than 3 million square feet, and will require moving enough dirt to fill an entire NFL football stadium.
The building will house a factory capable of producing an untold number of vehicles every year to satisfy demand for… wait… demand for what?
The company building this mega-structure isn’t Tesla. It isn’t Toyota or General Motors or Volkswagen. The company behind this massive project is Faraday Future, which, in its entire existence, has sold a grand total of zero vehicles.
Yesterday Faraday posted a link to a blog post bragging about the site-prep that is happening now in the Nevada desert. That prep is to make way for the foundation of what the company says will be one of the world’s largest structures by volume.
This, of course, raises some interesting questions:
- How many cars does Faraday believe it will sell?
- How can it be so confident when it doesn’t even have a real concept or any pre-orders?
- How is the company paying the massive bill associated with a project like this?
The only question that even has any semblance of an answer is number 3. The company is backed by a Chinese company called LaEco, which is owned by Jia Yueting, a businessman with an estimated net worth of $6 billion.
That could explain where the money is coming from, but who invests so much money into a business that doesn’t have a proven product or even a track record of sales?
The company has been shrouded in mystery since day one so maybe there’s more to the story that we just don’t know.
Starting a car company, though, is probably the toughest of ventures and one that has resulted in far more failures than successes. Which side Faraday Future ends up on will be decided in the coming years, when one of the biggest buildings in the world will become either a thriving factory or an empty shell.
Do you think Faraday Future has a fighting chance at success?