Faraday Future abandons plan to build $1 billion electric car factory in Nevada amid cash woes
Faraday Future, the troubled California startup that aimed to unseat Tesla as king of electric cars, is scrapping plans to build a $1 billion, 1-million-square-foot factory in Nevada — a casualty of the sprawling cash problems of its billionaire Chinese financier.
It was just five months ago that FF was claiming that it was finally restarting construction of its proposed factory in North Las Vegas, almost 11 months after construction was first halted amid the company’s ongoing financial woes. Now it looks like that factory will never be built, as FF is reportedly looking into pursuing less ambitious (re: cheaper) options.
The news, first reported by The Nevada Independent, broke less than a week after it was reported that a Chinese…
