LeEco CEO Jia Yueting might be one of the most anxious Chinese businessmen. Domestically, bad news about LeEco keeps dominating headlines from time to time. Overseas, the Faraday Future factory he backed in a vast expanse of dusty desert land 10 miles north of the Vegas Strip is also said to be in shambles as cash runs low.

Nevada factory in a lonely desert

Last year, the local government agreed Faraday Future build a 1 billion U.S. Dollar plant in Nevada. But soon later, Jia admitted his technology empire is running out of cash. Construction Firm AECOM even warned Faraday Future that work could stop on the project if the debt remained unpaid. 

But its official website showed in February that the second phase of the Stage 1 manufacturing project at Faraday’s Apex site entered the competitive bidding process. Faraday officials said they have five proposals from U.S. and international contractors and will continue the bidding process.

But two months have passed, how's the project doing?

Faraday Future replied NBD that they are following the timeline and will enter the second phase soon.

Though the company is positive about the project, is it the real fact? Bearing this question in mind, our reporter decided to see it in person. 

As we get closer to our destination, factories grow fewer and fewer. In distance, all I can see is a vast desert except a few trucks. Following the road sign, we finally reached its Nevada factory. 

LeEco's financial matter in question

Even since the launch of Faraday Future's factory, Nevada's State Treasurer Dan Schwartz has been skeptical that LeEco can secure financing for the car plant. And he called this project as a Ponzi scheme on several occasions. However, in order to attract investment, Nevada Governor Brian Sandoval and Mayor of North Las Vegas John Lee attended the groundbreaking ceremony of the Faraday Future's factory and announced their strong support for this project when it was challenged.

On the personal homepage of Dan Schwartz, he said that he is not willing to see that Nevada taxpayers' money is used for a bad deal and a fraud. He doubts that Faraday Future can build an electric car plant in North Las Vegas. This month, Dan Schwartz reiterated his concerns on his Facebook page, saying "No big surprise that money trouble seems to be following Faraday Futures around. A closer look at their finances (over a year ago) could have prevented us from being tied up in this mess. "

NBD reporter tried to reach Dan Schwartz for comment, but no response was received at the time of writing. With regard to the progress for Faraday Future's factory, NBD reporter sent interview letters to Nevada Governor and Mayor of North Las Vegas. Goldberg, the public information officer for North Las Vegas responded that Faraday Future is best-placed to answer the question. No response has been received from the office of Nevada Governor.

In order to get to know whether Faraday Future has settled the outstanding payment for construction, NBD reporter contacted Faraday Future and the construction contractor AECOM. AECOM global replied, "Please contact Faraday Future for relevant questions". Faraday Future doesn't give a straight answer in the email but says that the relationship between Faraday Future and AECOM is strong.

Email: tanyuhan@nbd.com.cn