Mar.15 (NBD) -- Electric car manufacturer Faraday Future (FF) is looking to sell a land of 900 acres in the Apex Industrial Park of north Las Vegas for about 40 million U.S. dollars, calling it a hard decision in FF's announcement released on official WeChat account Thursday.

According to the announcement, the listing is a result of operation optimizations in a bid to better integrate global resources. FF listed eight advantages of the property to attract buyers, including about 700 acres have been fully graded.

Buying the land in 2015, the electric vehicle (EV) maker originally planned to build a factory with an investment of 1 billion U.S. dollars for the mass production of FF 91.

NBD made a filed visit to the site in April 2017, two months after FF's announcement of the bidding process of the second session of phase I of the project in the Apex Industrial Park. But the reporter only saw a vacant land with eagles circling in whirling winds, showing no signs of construction.

Photo/Sun Yuting (NBD)

Three months later, FF moved the production site of its FF 91 to Hanford, California and suspended the construction on its Nevada site which was laid waste ever since.

Auto analyst Zhong Shi said that it is better to sell it in exchange for some money than allow it to lay waste, reported news outlet Beijing Business Today. After all, judging from the current situation, Jia has to make every penny count.

But currently, it hasn't secured a buyer. "It may be hard for FF to sell it because it is remotely located, reported news media Yicai citing an industry insider in Silicon Valley.

As the EV maker is struggling to insure the on-time delivery of the "revolutionary" FF 91, more people become concerned about how far Jia's car making dream will go.

It is noticed that FF announced large-scale layoff and pay cut last October. Moreover, it was reportedly sued by a handful of companies, including suppliers, contractors and even providers of broadband connection and automatic vending machines, for overdue debts.

Since October last year, the company was entangled in a battle for the controlling rights of FF with its major financial backer Evergrande Health. Although the two reached a truce in the end, hundreds of employees are still unable to return to their positions due to lacking of capital.

Besides, FF is losing valuable human resources. Silva Hiti, former senior employee of General Motors who participated in the production of FF's first electric car EV1, left the company. Other team members Young Doo and Steven Schulz even joined in FF's rival Rivian.

Worse still, Jia is the only one that remains in the founding team after the resignation of co-founders Peter Savagian and Nick Sampson.

According to media reports, FF has accumulatively invested 2 billion U.S. dollars. It is noticed that FF 91 is going through a series of testing and the second pre-production FF 91 has rolled off the production line.

However, car making has its own law, said an auto expert. The functions and figurations of off FF 91 are very advanced, making it harder to achieve mass production, added the expert.

Some people said even if the land is sold, 40 million U.S. dollars will be far from enough. Judging by the status quo, the car maker is still unable to deliver FF 91 to its customers on schedule.

Email: tanyuhan@nbd.com.cn