Aecom has halted construction on Faraday Future’s Las Vegas electric car factory after the Chinese-backed firm reportedly missed several payments for the project.
A Faraday spokesman told Fortune that the company is “refocusing its resources” on preparing its first production vehicle for introduction at the Consumer Electronics Show in Las Vegas in January. The company is reportedly behind on tens of millions of dollars in payments for the last three months’ worth of construction.
Aecom has completed grading and foundation prep work on the Las Vegas factory site, but construction isn’t anticipated to resume until early 2017, said Aecom spokesman Brendan Ranson-Walsh.
Meanwhile, on Wednesday the firm’s parent company, Leshi Holdings reportedly raised $600 million from 10 Chinese companies. The company’s co-founder Jia Yueting earlier this month wrote a letter to shareholders acknowledging that the company was running out of cash.
Related Link: Electric Car Company Faraday Future’s Parent Pulls Back
Technology reporter Garrett Reim can be reached at firstname.lastname@example.org. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
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