Faraday Future, the ambitious US electric car start-up backed by Chinese tech entrepreneur Jia Yueting, has given up on plans to build a $1bn factory in Nevada for its forthcoming FF91 vehicle as it races towards next year’s launch deadline.
The move to indefinitely postpone construction of its Las Vegas facility comes as Faraday hunts for new investors, after some of Mr Jia’s assets were frozen in China.
Faraday has pitched itself as a challenger to Tesla in electric vehicles, unveiling its first production vehicle, the FF91, at a glitzy event at January’s Consumer Electronics Show in Las Vegas.
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