Electric Carmaker Faraday Future Halts Work on Nevada Plant
- Company puts $1 billion North Las Vegas factory on hold
- LeEco’s Jia Yueting faces cash shortage, asset freeze
Faraday Gunning for Tesla With FF91 Supercar
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Faraday Future, the electric-vehicle startup backed by LeEco founder Jia Yueting, halted plans to build a $1 billion factory in Nevada as the troubled tycoon fights for the survival of his Chinese car business.
The plant in North Las Vegas that was due to build Faraday’s 1,050-horsepower FF 91 has been put on hold, according to an emailed statement. Faraday earlier this year claimed the FF 91 would be the world’s fastest electric car, beating souped-up versions of Tesla Inc.’s Model S sedan.